(21.08.2020) The Container Market trajectory remains clearly upwards and, unlike the slowing in pace experienced last week, the market's recovery has actually gathered pace this week, with the New ConTex Index gaining an impressive 24 points rise on last week. The Index is now standing at 392; still low historically and still behind where it was this time last year, but a significant inprovement nonetheless.
The shortage of post-panamax tonnage means any large size available can easily achieve a higher rate than last done and, with demand cascading down the sizes, this means growing demand for classical 4250 TEU panamaxes and increasingly the intermediate 3500 TEUs and 2700 TEUs.So it was not surprising to see the 4250 TEUs score the greatest gains with this size being marked up 12.9% (basis 12 months) on last week, ahead of the 9.1% and 9.5% gains being achieved by the 5700 TEUs and 6500 TEUs respectively.
Of particular note this week is the gain being made by the 2700 TEUs and 3500 TEUs, being marked up 6.9% and 8.9% respectively on last week (both basis 12 months). Although rates for all sizes are recovering the smaller feeder sizs are struggling to recover in comparison although, relative to their ealier losses, they have less ground to make up.