NewConTex vs COVID-Blues

(20.5.2020) As no index will be published on Thursday owing to the public holiday, we have only one set of figures on which to comment this week. The Container Market continues its steady decline with the New ConTex Index shedding a further 4 points yesterday to stand at 336 (10 points lower than at this point last week). The short term challenges for the industry are plain tosee with all the component rates being marked down, some significantly so. The larger ships are experiencing the heaviest falls which continues the trend of recent weeks. Notably the 4250 TEUs dropping 6% (basis 12 months employment) over the week and the 6500 TEUs falling by an even larger 6.9%.