Weekly Container Briefing

Weekly Container Briefing
March 17, 2015
Time Charter
Sale and Purchase
Vessel (TEU/HOM)
Index
+/-
700/440TEU (GL) 17.5 k
3.76
► 0.00
1,043/660TEU (GL) 18 K Eco
5.31
► 0.00
1,100/715TEU (G) 19 k
8.67
► 0.00
1,700/1,125TEU (G) 19.5 k
8.63
► 0.00
1,740/1,300TEU (G) 20.5 k
8.75
► 0.00
1,714/1,250TEU (G) 19k Bkk Max
6.51
► 0.00
2,500/1,900TEU (G) 22 k
4.11
► 0.00
2,800/2,000TEU (GL) 22 k
4.25
► 0.00
3,500/2,500TEU (GL) 23 k
2.22
► 0.00
4,250/2,800TEU (GL) 24 k
4.70
▲ 0.03
5,500/4,200TEU (GL) 25 k
3.17
▲ 0.42
8,500/6,600 (GL) 25 k
4.06
► 0.00
64.13
▲ 0.45
BOXi Total
A busy week for the container market this week with 11 sales recorded
and a number of sales candidates on the market. To this end 3 x 2010
Chinese built 5,000TEU vessels came onto the market, although not the
ideal specification, with a shortage of Panamax candidates on the market
we expect there to be notable interest in these vessels and it will be
interesting to see what prices they achieve.
In addition rumours that German sellers have committed the Cape Maas
and Cape Madrid (2,747TEU built 2011 Wenchong) at $16Mn each have
also circulated. In the smaller sizes it is rumoured that a B170 (1,730TEU
built Szczechin 2001) has been committed at a price in excess of $5Mn
and another 1997 built sister has been sold to a liner operator for
$3.75Mn. Finally, two 2003 built CV1100 types were sold by an insolvency
administrator to Asian buyers for an en-bloc price of $8Mn, one of the
vessels has a short term time charter attached.
Braemar ACM’s Demometer - Container Ship Deliveries
Sales Last 30 days
Total Demolished 2015YTD
Total in Same Period 2014
Total Demolished 2014
Total NBs Delivered 2015YTD
13,000TEU (7 Vessels)
57,000 TEU (28 Vessels)
133,500TEU (45 Vessels)
398,500 (164 Vessels)
251,000TEU (37 Vessels)
Vessel Deliveries Wk11 TEU
Shipyard
Ow ner
Deployment
Comment
Hanjin Bosal
10,000
Jiangsu Yangzijiang
Seaspan
Asia-USWC-Asia
11/25 Hanjin CHKYE PSX Service
Dali
9,669
Hyundai H.I.
Oceanbulk Group
Asia-ECSA-Asia
2/8 Maersk Line SEAS1
SITC Fujian
1,805
CSBC (Taiw an)
SITC
Intra-Asia
3/12 Japan-Vietnam
Total TEU
21,474
Macroeconomics
Headlines
EUROPEAN Commission President Jean-Claude Juncker has criticised the slow pace of progress in talks over Greece's debt, since last
month's interim deal. At a meeting with Greek Prime Minister Alexis
Tsipras in Brussels, Mr Juncker said he was "not satisfied". Mr Tsipras
needs EU support for reforms to unlock vital funds, avoid possible
bankruptcy and a eurozone exit.
CMA CGM set to order 20,000TEUs. World number three shipping line
CMA CGM is reportedly looking to join the 20,000TEU club with market
reports suggesting the French line has signed a letter of intent for ships of
this size. Brokers are reporting that the shipping line has gone to Hanjin
Heavy Industries for three ships of 20,000TEU at the shipbuilder’s Subic
facility with delivery set for 2017.(LL)
RUSSIA’S central bank has cut its key interest rate by one percentage
point to 14per cent, as concerns over inflation recede as Russia's
economy falters. The move, which was widely expected, comes as the
rouble stabilises following its radical 46per cent decline in 2014. That
drop prompted the bank to increase rates up to 17per cent in an effort
to halt the plunge. The rate rise strengthened the rouble against the
dollar.
SEASPAN chief executive Gerry Wang has said he does not foresee
commercially viable solutions for containerships fully fuelled on liquefied
natural gas, mainly due to costs and supply issues. With tightening environmental regulations and low gas price, some yards have offered interested owners the option to enable their ships to fuel on LNG and received
positive feedbacks. (LL)
The EURO has fallen to its lowest level against the US dollar in 12
years after the European Central Bank (ECB) began its government
bond buying programme. It fell as low as $1.0560, before recovering a
little. But many traders expect it may soon be worth the same as a
dollar.
The US economy added 295,000 jobs in February, while the unemployment rate fell to 5.5 per cent from 5.7 per cent, according to Labor
Department figures. It was the 12th month running that the economy
added more than 200,000 jobs, the longest such run since 1994.
CHINA economic data shows more signs of weakness. Industrial
output, fixed investments, property sales and retail sales miss forecasts in January and February Industrial production, which is seen as
a proxy for the country’s economic growth, grew 6.8 per cent in the
first two months, its lowest level since the 2008 financial crisis.
FREIGHT rates on the main east-west trades continued to decline last
week and are still below last year’s level. The latest Shanghai Containerised Freight Index figures show that prices on services from Shanghai to
Northern Europe declined by $108/TEU on a week earlier to reach $708/
TEU.(LL)
HYUNDAI HEAVY INDUSTRIES (HHI) has revealed new orders fell 50
per cent in the first two months of 2015. It said fresh business totalled
$2.1Bn in January and February. The company had already revealed a 28
per cent decline in orders during 2014, but marine business fell by only
7.66 per cent at $6Bn. Seoul-listed HHI has said it is aiming for new contracts worth $22.95Bn in 2015. (TW)
Indicators
S ha ngha i C o nt a ine ris e d F re ight Inde x
F T S E 10 0 Inde x
D o w J o ne s Indus t ria l A v e ra ge Inde x
B re nt C rude O il P ric e $ / bbl
S inga po re B unk e r P ric e 3 8 0 $ / t o nne
888 ▼
6,804▼
17,945▼
52.80 ▼
325▼
Braemar ACM Shipbroking - London - Singapore - Shanghai
Email: [email protected]
London Office: Tel: + (0) 203 142 4250 Singapore Office: Tel: + 65 65 169588
Every effort as been made to ensure the information contained within this report is accurate, Braemar ACM Shipbroking cannot accept responsibility for error, omission or consequence therefrom