(07.08.15) The New ConTex index shed a further 7 points over the week, passing throughwhat some may view as a "psychological barrier" of 500 and now stands at 496.However the developments during this week have not been entirelydisappointing with a rally apparent in the 3500 TEU sector; basis 12 months'employment this sector was marked up a healthy 1.3% compared to last week.And it would also be fair to point out that the 4250 TEU panamax sector isholding up well compared to many others.However, for Owners of the smaller geared ships and 2700-2800 TEU gearlessships, there is no escaping the fact that the gains made up until only ashort while ago are being steadily eroded with week-on-week percentage lossesin the 2s.