New ConTex on cource

(20.09.2019) This week's 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. 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. 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 market sources, a capacity of 465,000 TEU is currently out of service while undergoing scrubber installation at various shipyards.