New ConTex still in summer slack season
(6.8.2018) The New ConTex reflects another weaker week in the summer slack season with a decrease of the Index through all sizes.
The smaller segments still facing problems in securing new business, which obviously is leading to a weaker market. Lead by the 2700's down by 2,2 %, followed by the 2500's and 1100's down by 2,1%. This is due to low demand and activity, which obviously puts Charterer's in a favourable position to try to set new benchmarks.
The 1700's are at least a bit more steady with only losing 0,9% week-on-week, which is a result of only a smaller amount of available ships. The activity within the 3500 Teu segment is very low, which is no surprise in view of limited availability. As a result the New ConTex is showing only a slight decrease down by 1,2%.
Like in the previous weeks we noticed a higher activity within the Panamax segment. The rate gap between the fixtures is wider though, which is a result of certain difficult positions and some vessel's being under pressure to do something. As a consequence the New ConTex for this segment is down by 1,5%, but looking forward this might change again soon as the number of requirements seem to be increasing.