New ConTex: revision of the index composition
(27.01.2020) Starting on February 15th, 2020 the VHBS will publish a reviewed New ConTex. Due to the fact that most of the fixtures are concluded shorter than 12 months, the index shall include short periods only. As from the effective date the New ConTex will be based on assessments of charter rates of six selected container ship types 1,100 TEU and Type 1,700 TEU (with a charter period of 6 months) and the Types 2,500, 2700, 3,500 and 4,250 TEU (all with a charter period of 12 months).
Nevertheless, following assessments will be published as additional information: Types 1,100 and 1,700 TEU (both 12 months) and the Types 2,500, 2700, 3,500 and 4,250 TEU (all with a charter period of 24 months). The data will not be part of the index calculation.
Apart from this, the panel brokers of the New ConTex decided to expand the Index environment by adding two further types, 5,700 and 6,500 teu. These data will be published as additional information. The panel brokers believe that these types represent each in itself important segments of the market and their addition to the index will broaden the overall coverage of the Index and thus opening the New ConTex as a tool to a larger number of owners, charterers and brokers.
The new types will be evaluated on a fixture period of 12 months. A trial period has shown that there is sufficient fixture activity.
The purpose of this wider coverage is to give an even more accurate picture of market development.
The New ConTex (Container Ship Time Charter Assessment Index) has been published by the Hamburg and Bremen Shipbrokers’ Association since October 2007. Compared with other indices, the New ConTex is the only global, company-independent index for containership chartering. The current panel comprises 15 recognized shipbrokers in Hamburg, Copenhagen, London, Paris and Singapore. Further details for all types are published on the Association´s webpage: www.vhbs.de.