ConTex at 426 (+1)
(23.08.2019) 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.
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 sideaways and in particular the atlantic side lack a proper demand with prospects being somewhat negative.