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 1100 TEU and Type 1700 TEU with a charter period of one year, and
- Types 2500, 2700, 3500 and 4250 TEU all with a charter period of two years.
Further details for all types are published on the Association´s webpage: www.vhss.de.
Increase in New ConTex value
This week’s commentary was issued on 19.09.2019. The commentary shows New ConTex increased by 2 to 445 index points reflecting the ongoing positive trend for the segments above 2,000 TEU.
Owners of tonnage in the segments below this mark still have to accept the persistent stagnation.
Unbalanced supply & demand situation
Rates in the 1,100 & 1,700 TEU segments moved sideways once again as the supply & demand situation remains unbalanced.
Backed by a solid number of fixtures recorded in the last weeks, the 2,500 TEU & 2,700 TEU segments registered a further improvement, increasing by 0,9% and resp. 1,5% w-o-w (12 m evaluation).
In comparison, the recent fixture volume for the segments above 3,000 TEU is scarce. Taking into account the shortage of supply, this comes at no surprise.
Scrubber retrofits Wave
Nevertheless, the upward momentum for the 3,500 & 4,250 TEU segments remain alive. Tramp ship owners in the segments above 3,000 TEU are still benefiting from additional demand related to the wave of scrubber retrofits, which reached a new peak this week.
According to Alphaliner, a capacity of 465,000 TEU is currently out of service while undergoing scrubber installation at various shipyards.
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Source: VHSS
