New ConTex: Keep the fingers crossed

(24.5.2019) The New ConTex level was this week unchanged from the previous week indicating a market which is basically drifting sideways and with charter rates for the governing segments overall being stable at a level which is roughly about 25 pct less than seen at the same time last year. Only tonnage of 5500 TEU and above are able to see a demand level justifying increases in charter rates and in reality also the segments where longer term charters are possible.The question is when the demand will filter through to the smaller segments benefitting the 4250 TEU segment. Based on the current activity level it may take a while. Still it is the only segment which has experienced a month-on-month increase albeit modest at below 4 pct.The remaining feeder segments were faced with fairly low demand and in principle it was the relatively low supply of tonnage in the Atlantic which kind of kept the market stable in the feeder segments between 1100 to 1700 TEU. Although not reflected sofar there was some improvement in activity in the 2500-2800 TEU sector but rate increases were insignificant.