Container Weekly

4th – 10th February 2023

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circumstances, as well as general uncertainty could cause the market to develop differently. We take general reservation for misprints. Maersk Broker is not responsible or liable
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 © 2023 Maersk Broker K/S. All rights reserved.

Charter Market Maersk Broker Container Index (MBCI) & Fixture Length Average Charter Rates
Index, Jan 95 = 1,000 (lhs), months (rhs) USD/day
The market continued to be relatively active. The Atlantic remains the
most firm region for now, where tonnage continues to thin out and Average fixture length, (rhs) MBCI 2021 2022 2022 2022 2022 2023
rates have seen somewhat of a firming, primarily in the smaller feeder Size (TEU)
3,500 42 FY Q1 Q2 Q3 Q4 Q1*
segments. In Asia, rates are generally stable however in some segments
demand is quite clearly lacking, thus we could perhaps see softer terms 900-1,200 16,404 26,188 27,035 29,875 13,333 11,313
than last done offered in order to secure onward employment. We have 3,000 36
however seen activity registered across all regions and most segments,
with periods remaining short, maximum 12 months 2,500 30 1,600-1,800 24,673 41,638 48,600 41,125 16,079 14,750

In the post Panamax segment, we saw a pickup in the number of firm 2,000 24 2,400-2,700 30,691 51,531 74,667 57,000 19,450 17,750
negotiations. One vessel was fixed to Tailwind for a period of 12
months at a rate in the region of USD25k, whilst a sister vessel was 1,500 18 2,700-2,900 31,276 41,183 46,250 42,000 21,650 18,000
failed on subs by the same operator. Plenty of other potential takers
were sill sitting on the fence, pondering their next move. 1,000 12 4,000-5,400 39,697 48,921 78,333 46,083 22,200 20,000

A couple of further Panamax vessels were rumoured to have fixed, with 500 6
5,500-7,000 39,520 N/A N/A 56,563 45,000 31,167
CMA CGM now the confirmed taker of one scrubber fitted unit for a
period of 7 to 9 months at USD 25,000, whilst other standard units 0 0 Source: Maersk Broker Insights
were recently concluded at lower levels. * As per 10th February

Once again there was very little happening in the 2000 - 3000 TEU
segment this week, with nothing reported fixed. In Asia, despite the lack
of prompt tonnage, the market still appears under slight pressure as
prompt business is clearly lacking. It would not, however, take much of Monthly Comparison Feb-19 Feb-20 Feb-21 Feb-22 Latest
a pickup in demand to absorb the available tonnage. TC rate assessment
MBCI 417 432 835 2,888 900 USD/day
The 2,000 TEU and below segment had another eventful week with
several fixtures reported. The Atlantic market continues to be the 'hot' Source: Maersk Broker Insights Standard Sizes
area for feeders, thus we saw another newbuilding 1,800 TEU 'CAPE Weekly estimate, Up to 12 months Trend
(TEU)
BEN' fixing ex yard China for a trip to Europe, with RIF Line. In the
Caribs, CMA CGM covered their dry-dock replacement with the Imabari 1,100 11,500 "
1700 'MAERSK WILMINGTON', concluding USD 13,500 for 3-4 months.
1,700 13,500 "
Representative Fixtures
USD/day 2,500 16,000 (

Vessel Year TEU 14 T.H. Plugs Design Gear Period Region Charterer Rate 2,700 17,000 (

Chicago 2003 6,078 4,172 500 Hanjin 5300 II Gearless 12 Months Far East Tailwind Private 3,500 18,000 (

Cape Ben 2023 1,900 1,290 230 Wenchong 1900 Gearless 25-40 Days Mediterranean RIF 17,000 4,250 19,000 (

As Rafaela 2007 1,440 1,050 174 PW 1500 Gearless 6 Months Far East GFS Private 5,500 26,000 "
Source: Maersk Broker Insights
6,500 33,000 "
Preliminary assessed by Maersk Broker
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Container Weekly
 © 2023 Maersk Broker K/S. All rights reserved.

Newbuilding Market 2ndHand Market

This week there were no firm container newbuilding orders to report.
We gather that some yards have notified delays for container projects
to buyers, especially among Korean yards. This is mainly due to an
increasing workforce shortage as we have previously reported, to such
an extent that yards are in the process of hiring additional foreign sub-
contractors and workers. We gather this is also an issue in China, but
not yet close to the extent seen in Korea.
As for contracts in the pipeline, HMM are expected to sign for 9 x 8,500
methanol DF vessels next week, split among HHI (7) and HJ (2) at an
estimated USD 127 mill per vessel basis delivery 2026 and we expect
to see a few other projects materialise in the coming weeks including
Yang Ming's for 5 x 15,000 TEU LNG DF
Newbuilding Orders
Number of vessels
In the past week, the increase in activity that we had seen in the last
few weeks, continued. We are definitely seeing more Chinese buyers
entering the market and they are looking at both smaller and larger
feeder sizes. Understand that several negotiations are ongoing and
expect more to surface in the coming weeks.
2nd
Hand
Weekly Market
Spotlight
Very surprisingly the US economy added 517,000 jobs in 2023, which
is well above 2022 average. This is a clear indication of a continued
robust labour market, despite recent lay-offs in the tech industry.
Majority of the jobs were added in leisure and hospitality, business
services and health care. However, manufacturing sectors such as
construction also increased. While still below 50 (which represents an
expansion compared to the previous month), US manufacturing PMI
increased in January. The unemployment rate dropped from 3.5 % to
3.4 %.
While the strong job report defies recession forecasts, it adds pressure
on the US Fed to continue hiking interest rates to keep inflation in
check. Latest forecast from both IMF and World Bank also assume no
recession in 2023, but growth rates remain quite low.

Newbuilding Price Assessments 2nd

Second-hand
Hand Price Assessments
Activity US
2ndNon-farm
Hand Price
Payrolls
Assessments
USD Mn USD
Number
Mn of sales Thousands
USD Mn

Size (TEU) Gear Price Korea Trend Price China Trend Size (TEU) Gear 10-year-old Trend 15-year-old Trend Nonfarm Payroll Employment 2022 Average
1,200
1,700 Y 31 " 28 " 1,700 Y 13.5 " 9.5 "
1,000
2,700 Y 40 " 36 " 2,700 Y 19.0 " 14.0 "
800
5,400 N 66 " 60 " 4,250 N 27.0 " 20.0 "
600
11,000 N 125 " 115 " 5,500 N 36.5 " 25.0 "
400
15,000 N 154 " 145 " 7,500 N 56.5 " 40.5 "
Preliminary assessed by Maersk Broker 200
8,500 N 63.5 " 47.5 "

Preliminary assessed by Maersk Broker 0

Source U.S. Bureau of Labor Statistics :

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Container Weekly