Continental Chartering Bulletin, July 2012
1
News Flash
Maersk Line plans to re-establish its
direct China- New Zealand link. The new
service will be called “Asia Star”. It will
employ seven vessels between 1,700 and
1,800 TEU.
The Namibian port authority (Namport)
countered media reports stating that the
planed container terminal at Walvis Bay
would threaten to fail. The authority
announced that there were many financ-
ing inquiries and it is expected that
financing will soon come to a close. After
the completion the terminal will have
two over 350 meter long piers with a
depth of 14 meters. A concrete date of
finalization has not been named yet, but
it has to be expected that the whole
project will be delayed. Currently the
inception of the terminal´s commercial
operation is believed to be in 2016.
Spanish carrierer Marguisa and Delmas
have founded a Ro-Ro-Service between
the Mediterranean and West Africa.
Trend continuation at charter market
While fright rates gave in slightly, charter market development
remained similar to June´s.
Freight rates still stay on a
reasonable level, though since
June rates gave in. The rate
decrease could be partly
caused by the fallen bunker
prices, as a SeaIntel Analyst
argues. Forward freight rates
currently don´t supply us
with a clear signal of the mar-
kets´ future direction. Market
participants seem to wait
whether liner operators´ an-
nounced rate increase for Au-
gust will be successful. Bun-
ker prices have increased
quite a bit in July. The price
for bunker oil with a viscosity
of 180 mm2/sec is slightly
above the 650-US-Dollar
threshold. The price of bunker
with 360 mm2/sec oscillates
below 650 USD.
At the charter market rate
levels dropped slightly. Exist-
ing trends remained con-
sistent. Charter rates for ves-
sels of 4,250 TEU upwards are
situated on a bearable,
those for even bigger ves-
sels on a passable level. By
contrast, smaller container
vessel segments do suffer.
The size range of sub-
4,000-TEU, especially those
below 3,000 TEU, is under
pressure. Among others
this is displayed by the
change of the idle fleet,
which increased in the
smaller segments. Between
2,000 and 2,999 TEU the
amount of idle vessels in-
creased especially steeply.
One factor influencing this
development is the effi-
ciency compulsion liner
operators are exposed to.
Slow steaming potentials
are mostly exhausted.
Hence, considering the still
high bunker prices, the
major remaining lever to
minimize cost per TEU is
the realization of scale ef-
Continental Chartering Bulletin, July 2012
2
fects by the employment of
bigger vessels. Where it is
physically possible and just
economically reasonable,
smaller vessels are replaced
by bigger ones.
Nevertheless the rate decrease
could reach a temporary end:
After the ConTex published
by Hamburger Schiffsmakler
und Schiffsagenten (VHSS)
had dropped at the beginning
of the month it slightly stabi-
lised at the month´s end. Tak-
ing an optimistic interpreta-
tion, this could be viewed as a
sign for an approaching
summer gap´s end and a sta-
bilizing charter market.
The sales & purchase market
for container vessels wit-
nessed brisk activity, which
was limited to the regional
and interregional feeder seg-
ment. Thus in July ten S&P
transactions of container ves-
sels were registered.
After the scrapping activity
had slowed down in June, in
July more container vessels
were sold for scrapping, even
though prices paid per light
displacement tonnage were
far underneath those which
could have been realized three
months ago.
The new building market re-
mained relatively calm. The
ten 14,000 TEU vessels des-
tined for Evergreen finally go
for the benefit of Lemos.
Apart from that there was no
further activity besides the
order of four 2,900 TEU Con-
tainer-Ro-Ro vessels by an
Italian owner.
The global business cycle is
cooling down. Worldwide
central banks are lowering
interest rates, which shows
that action has already been
undertaken to counteract the
downturn. In the medium run
the decreasing key interest
rates could have a stimulating
effect on the economic situa-
tion. Beside the scheduled
delivery of Ultra Large Con-
tainer Ships (ULCS), the busi-
ness cycle “downside-risk”
seems currently one factor
that threatens a charter mar-
ket upswing. On the other
hand it should be recorded
that in recent months only
little new building orders
have been done indeed,
though at invincible prices.
History teaches us that those
historically cheap deals often
can mark a turning point. Mi-
nor new building activity and
increasing number of scrap-
ings, as well as scores of S&P
transactions in the feeder
segment lead to one conclu-
sion: Even though the road to
the market equilibrium may
be longer than some expected,
it is visible that we slowly
move towards it.
Continental Chartering Bulletin, July 2012
3
Continental Chartering Bulletin, July 2012
4
NEW BUILDINGS CONTAINER - Deliveries – July 2012
NAME TEU ORDERED SHIPYARD ORDERING PARTY
Hamburg Express 13.169 02/2008 Hyundai H.I. Hapag-Lloyd CMA CGM Margrit 13.092 07/2007 Hyundai H.I. Blue Star Holding
Maersk Lins 8.700 06/2008 Daewoo (DSME) APM
Ever Lambent 8.452 07/2010 Samsung Evergreen
Tirua 8.004 07/2012 Samsung CSAV
Santa Ines 7.800 05/2007 Daewoo (DSME) Hamburg Süd
Xin Lan Zhou 4.738 06/2008 Jiangnan Changxing CSCL
Wan Hai 512 4.532 05/2007 China SB Wan Hai
Maersk Colombo 4.496 06/2008 Hyundai H.I. APM
Hansa Europe 3.646 06/2007 Shanghai Chengxi Leonhardt & Blumberg
Martha Schulte 3.635 05/2007 Shanghai Chengxi Thomas Schulte
Cape Marin 2.758 04/2008 Gunagzhou Wenchong Schoeller Holdings
Rio Anna 2.554 01/2008 Jiangsu Yangzijang MPC
Hansa Duburg 1.732 07/2012 Guangzhou Wenchong Leonhardt & Blumberg
SITC Moji 1.100 07/2012 Zhejiang Yangfan SITC
SITC Lianyungang 1.100 07/2012 Zhejiang Yangfan SITC
SITC Shenzhen 1.100 07/2012 Zhejiang Yangfan SITC
Chattanooga 1.042 07/2012 Kouan Shipyard Norse Management
Maasholm 1.036 07/2012 Jiang Dong Shipyard Brise Schiffahrt
Lindaunis 1.036 07/2012 Jiang Dong Shipyard Brise Schiffahrt
Condor 889 05/2006 Mawei Shipyard Gebrüder Winter
2nd-HAND SALES CONTAINER – December 2011
NEW BUILDINGS CONTAINER - New Orders – July 2012
QUANTITY/NAME TEU DELIVERY SHIPYARD ORDERING PARTY
4 x Con Ro 2.900 2014 STX Linea Messina
Continental Chartering Bulletin, July 2012
5
2nd-HAND SALES CONTAINER – July 2012
Name TEU BUILT YARD GEAR PURCHASR PRICE COMMENT
Pembroke 2.442 1997 Germany GD Greece $7.000.000,-
R. Partner 1.354 1994 Poland GD Dubai $2.700.000,-
Hyundai Concord 1.032 2002 Japan GL Korea $9.100.000,- Special Survey due
Bunga Teratai Dua 1.725 1998 Korea GL SEA $6.000.000,-
Avonmoor 779 1998 China GD Malta $1.050.000,- Auction
Magellan Comet 735 2002 Germany GL $5.000.000,- Incl. finance
Pioneer Buzzard 735 2002 Germany GL $5.000.000,- Incl. finance
Acacia 504 1993 Japan GD China $2.000.000,-
Elation 538 1994 Germany GL Greece €1.000.000,- Creditor forced
Elevation 538 1994 Germany GL Lebanon €1.000.000,- Creditor forced
DEMOLITION SALES CONTAINER – July 2012
Name TEU BUILT LDT SCRAP LOCATION USD/LTD
Nordstrand 2.280 1993 13.697 Turkey 325
MSC Ukraine 1.939 1989 13,190 India 422 (incl. Bunker)
Sp5. Eric G. Gibson 1.914 1984 13.281 Undisclosed 370
Fresena 1.651 1997 7.406 Turkey 295
Tiger 1.210 1989 6.964 India 410 (incl. Bunker)
Seaboard Costa Rica 742 1984 Undisclosed 265
Continental Chartering Bulletin, July 2012
6
Source: Alphaliner/ Maersk Broker
0
100
200
300
400
500
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
con
tain
er
vess
els
year
New building orders by year and size group
7,000+ TEU
5,200-6,999 TEU
3,950-5,199 TEU
3,000-3,949 TEU
2,000-2,999 TEU
1,300-2,000 TEU
900-1,299 TEU
14,000,000
15,000,000
16,000,000
17,000,000
18,000,000
19,000,000
20,000,000
2010 2011 2012 2013 2014 2015
Capacity of the world container fleet (TEU)
Continental Chartering Bulletin, July 2012
7
Source: Alphaliner
-10%
0%
10%
20%
30%
40%
50%
2012 2013 2014 2015
4.0% 1.1% 0.3% 0.0% 0.9%
4.9% 0.3% 0.0%
-2.5%
3.7% 0.4% 0.0%
2.4%
9.4%
0.0% 0.0%
tonnage growth according to size group
1000-1499 1500-1999 2000-2999 3000-3999
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
2012 2013 2014 2015
6.8% 7.9%
0.4% 0.0%
4.3% 4.5% 0.9% 0.0%
10.8%
17.0%
6.8%
1.7%
50.0%
31.6%
13.8%
9.0%
tonnage growth according to size group
4000-5099 5100-7499 7500-9999 10000-18000
Continental Chartering Bulletin, July 2012
8
Shanghai Containerized Freight Index (SCFI)
weight 2012-06-21 2012-06-29 change
SCFI (total)
100% 1327.45 1327.08 -0.37
Europe (Base port) USD/TEU 20.0% 1667 1728 61
Mediterranean (Base port) USD/TEU 10.0% 1651 1649 -2
USWC (Base port) USD/FEU 20.0% 2389 2368 -21
USEC (Base port) USD/FEU 7.5% 3559 3513 -46
Persian Gulf and Red Sea (Dubai) USD/TEU 7.5% 875 853 -22
Austrlian/New Zealand (Melbourne) USD/TEU 5.0% 827 790 -37
East/West Africa (Lagos) USD/TEU 2.5% 2197 2190 -7
South Africa (Durban) USD/TEU 2.5% 1052 1040 -12
South America (Santos) USD/TEU 2.5% 2073 2034 -39
West Japan (Base port) USD/TEU 5.0% 342 343 1
East Japan (Base port) USD/TEU 5.0% 342 342 0
Southeast Asia (Singapore) USD/TEU 5.0% 267 264 -3
Korea (Pusan) USD/TEU 2.5% 191 187 -4
Taiwan (Kaohsiung) USD/TEU 2.5% 247 256 9
Hong Kong (Hong Kong) USD/TEU 2.5% 127 125 -2
Source : Shanghai Shipping Exchange
Continental Chartering Bulletin, July 2012
9
Source: Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V.
$4,000
$9,000
$14,000
$19,000
$24,000
$29,000
Okt. 10 Jan. 11 Apr. 11 Jul. 11 Okt. 11 Jan. 12 Apr. 12 Jul. 12
ConTex for different vessel types
Type 1100
Type 1700
Type 2500
Type 2700
Type 3500
Type 4250
350
400
450
500
550
600
650
700
750
Sep. 10 Nov. 10 Jan. 11 Mrz. 11 Mai. 11 Jul. 11 Sep. 11 Nov. 11 Jan. 12 Mrz. 12 Mai. 12 Jul. 12
ConTex
Continental Chartering Bulletin, July 2012
10
Representative Fixtures – July 2012
NAME TEU BUILT REEFER GD/GL DURATION CHARTERER REPORTED RATE
Hanjin Rotterdam 8,586 2011 700 GL 8 months MSC 2012-07-18 $33,500
Apl Ningbo 8,540 2010 630
GL 12 months APL 2012-07-05 $37,500
Ilse Wulff 6,969 2009 714
GL 12 months MAERSK 2012-07-26 $31,000
Ym Maturity 6,572 2010 500 GL 12 months MSC 2012-07-06 $28,250
E.R. Dallas 5,043 2004 1,100 GL 2-3 months MAERSK 2012-07-22 $11,575
Hyundai Federal 4,651 1994 350 GL 2-3 months NORASIA 2012-07-27 $11,500
Rhl Concordia 4,620 2012 600 GL 12 months CCNI 2012-07-13 $18,500
Northern Prelude 4,616 2009 470 GL 3-4 months HAMBURG SÜD 2012-07-27 $11,975
Hansa Atlantic 4,565 1996 300
GL 12 months MSC 2012-07-12 $9,000
Stx Maliakos 4,398 2012 450 GL 7-9 months KMTC 2012-07-27 $11,000
Cscl Dalian 4,253 2002 400 GL 5 months HMM 2012-07-10 $11,500
Bavaria 4,253 2003 400 GL 1 month MAERSK 2012-07-09 $10,500
Zim Shekou 4,250 2007 400 GL 6 months OOCL EUROPE LTD 2012-07-20 $12,000
Santa Romana 4,112 2002 1,300 GL 4-6 months HMM 2012-07-20 $12,475
Ville D'orion 3,961 1997 150 GL 8 months CMA CGM 2012-07-24 $9,960
Martha Schulte 3,635 2012 550 GD 6 months CMA CGM 2012-07-22 $8,200
Hugo Schulte 3,635 2010 550 GD 9-11 months HAMBURG SÜD 2012-07-13 $8,500
HS Bach 3,586 2007 500 GL 4-5 months CMA CGM 2012-07-12 $7,750
Karmen 3,352 1991 121 GL 2-3 months SEACON 2012-07-27 $7,150
Apl Amman 3,323 2002 440 GL 6 months RCL FEEDER 2012-07-27 $8,700
Jenaz 2,824 2006 586 GL 3-6 months 2012-07-16 $6,500
Sarah Schulte 2,824 2005 586 GL 12 months HAMBURG SÜD 2012-07-13 $7,200
Northern Valour 2,808 1996 400 GL 2-3 months UASC 2012-07-27 $7,000
Aldebaran 2,785 2008 432 GD 1-2 months CMA CGM 2012-07-13 $7,500
Stadt Dresden 2,742 2006 400 GL 1-2 months CMA CGM 2012-07-12 $6,500
Alexandra P 2,732 2000 450 GL 2-3 months WAN HAI 2012-07-27 $6,900
King Adrian 2,702 2004 400 GL 2-3 months WAN HAI 2012-07-26 $6,900
Welle 2,572 2005 600 GD 2-23 months CMA CGM 2012-07-13 $6,850
Rio Taku 2,556 2004 600 GD 10 months APL 2012-07-13 $7,750
E. R. Elsfleth 2,496 2003 344 GD 10-13 months CMA CGM 2012-07-20 $7,300
E. R. Helgoland 2,496 2002 342 GD 10 months CMA CGM 2012-07-22 $7,500
Frisia Hannover 2,478 2006 400 GD 6 months HAPAG 2012-07-18 $7,200
Anafi 2,420 1994 300 GD 3-5 months MSC 2012-07-22 $6,100
Continental Chartering Bulletin, July 2012
11
Representative Fixtures – July 2012
NAME TEU BUILT REEFER GD/GL DURATION CHARTERER REPORTED RATE
Nordfalcon 2,105 1997 200 GD 11-13 months PIL 2012-07-12 $6,900
OM Agarum 2,015 2008 510 GD 6 months SEA CONSORTIUM 2012-07-03 $7,500
Kamala 2,011 1999 164 GD 3 months KMTC 2012-07-13 $6,900
Frisia Nuernberg 1,970 2010 442 GL 2-4 months WAN HAI 2012-07-27 $6,500
Valdivia 1,875 2006 385 GD 3-8 months MCC 2012-07-26 $6,300
Pluto 1,837 1999 350 GD 8-10 months CMA CGM 2012-07-13 $6,600
Belgian Express 1,794 2010 319 GD 7-11 months CMA CGM 2012-07-20 $6,500
BF Ipanema 1,794 2009 319 GD 7-10 months CMA CGM 2012-07-03 $6,800
Nefeli 1,740 2011 300 GD 4-8 months MARIANAS EXPRESS 2012-07-18 $6,650
Catena 1,740 2009 300 GD 3-4 months MARIANAS EXPRESS 2012-07-06 $6,750
Hansa Regensburg 1,740 2008 300 GD 9 months CMA CGM 2012-07-19 $6,650
Maximilian Schulte 1,740 2005 300 GD 7 months MAERSK 2012-07-13 $6,775
Dorothea Rickmers 1,730 1998 200 GD 7-9 months MAERSK 2012-07-27 $6,100
Deike Rickmers 1,730 1996 200 GD 9 months CMA CGM 2012-07-16 $6,500
Rickmer Rickmers 1,730 1995 200 GD 6 months MAERSK 2012-07-13 $6,800
Tasman Strait 1,713 2008 388 GL 5-7 months MOL 2012-07-27 $7,500
Ocean Arrow 1,713 2007 377 GD 6-8 months MCC 2012-07-22 $6,750
Queen of Luck 1,684 1995 152 GD 1-2 months CMA CGM 2012-07-27 $6,500
Hansa Centurion 1,645 1998 128 GD 12 months HEUNG A 2012-07-18 $7,000
Ranee 1,613 1995 206 GD 6-9 months EVERGREEN 2012-07-13 $6,600
Arisara 1,461 1992 200 GL 3-5 months MCC 2012-07-13 $6,100
Cape Forby 1,440 2006 174 GL 3-5 months RCL FEEDER 2012-07-20 $5,300
Cape Ferrol 1,440 2008 174 GL 9-10 months STX PANOCEAN 2012-07-20 $6,675
Indep. Concept 1,432 2007 250 GL 3-4 months UFS 2012-07-26 $6,700
Concord 1,388 1994 150 GD 6-12 months IACC
2012-07-13 $6,850
Novia 1,388 1995 209 GD 3 months PORTLINE 2012-07-06 $6,500
Warnow Dolphin 1,284 2007 390 GD 3-6 months SINOKOR 2012-07-06 $6,650
Stadt Gotha 1,284 2008 390 GD 1 month GOLD STAR LINE 2012-07-25 $6,600
Warnow Whale 1,284 2007 390 GD 6 months SEABOARD MARINE 2012-07-06 $6,800
Varamo 1,284 2007 390 GD 1-3 months MAERSK 2012-07-27 $6,700
Acapulco 1,162 1996 100 GD 11-12 months MSC 2012-07-30 $5,150
Murat K 1,147 2007 240 GL 3-5 months ZIM 2012-07-09 $5,900
Akari 1,133
1999 100 GD 3 months YANG MING 2012-07-13
$6,225
Continental Chartering Bulletin, July 2012
12
Container Vessel Market Overview
Source: Hansa International Maritime Journal/ Clarkson Research
Continental Chartering Bulletin, July 2012
13
Container Vessel Market Overview
Source: Hansa International Maritime Journal/ Clarkson Research
Continental Chartering Bulletin, July 2012
14
The Continental Chartering Bulletin is a regularly released newsletter
concerning container shipping markets and other relevant economic
topics
Continental Chartering GmbH & Co. KG
Ballindamm 14-15
20095 Hamburg
Germany
Tel. + 49 - 40 - 32337070
Fax + 49 - 40 - 32337079
www.continental-chartering.de
editorial: Andreas Mietzner
Continental Chartering GmbH & Co. KG, Hamburg
eingetragen beim
Amtsgericht Hamburg, HRA 93683
vertreten durch
den Geschäftsführer, Peter Tamm
persönlich haftende Gesellschafterin:
Continental Chartering Verwaltungsgesellschaft
eingetragen beim
Amtsgericht Hamburg HRB 73050
Ust.Id.Nr.:
DE 204144047
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