The ConTex (Container Ship Time Charter Assessment Index) has been published by the Hamburg Shipbrokers’ Association (VHSS) since October 2007. In May 2010 the Index has been expanded and renamed to New ConTex.
The New ConTex is a company-independent Index of time charter rates for container ships. It is based on assessments of the current day charter rates of six selected container ship types, which are representative of their size categories:
- Type 1.100 TEU and Type 1.700 TEU with a charter period of one year, and
- Types 2.500, 2.700, 3.500 and 4.250 TEU all with a charter period of two years.
Further details for all types are published on the Association´s webpage: www.vhss.de.
New ConTex value
The positive development in the New ConTex value continued this week with another 1 pct agained and 4 pct month on month, however still around 14 pct less compared to about a year.
It continues to be driven by the larger segments where the lack of general post panamax tonnage force operators to look for smaller and often non-suitable tonnage driving up demand for in particular panamax tonnage which basically has been absorbed for the coming 4-6 months.
In fact the market appear, for once, to move in a rapid pace and the forecasted guidance is actually already below what is being concluded today.
Smaller Tonnage Momentum
Obviously there is a momentum to drive up demand for the smaller tonnage of 2700 and 3500 TEU, however sofar with very limited success and alternative tonnage options seems to be readily available and thus only a gradual marginal improvement has been seen during the last month and mainly in the AG area whereas other areas has been stable.
Smaller tonnage around 11-1700 TEU seems at best as drifting sideways and in particular the atlantic side lack a proper demand with prospects being somewhat negative.
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Source: VHSS
