Caribbean Maritime, issue 44 – Increasing freight rates. Maritime carbon emissions

Page 48

RUSSBROKER CARIBBEAN MARKET REVIEW

largest operators has now bought over 100 ships in the last 12 months. After prices followed the simple formula of: profit during initial charter plus scrap value for most of 2021, prices regularly broke that barrier in August. A 15-year-old standard CV 1,100 vessel last year sold for about US$1.5 million only at the bottom of the market where a sister of the same age got US$15 million in August 2021. A high reefer 1,800 TEU vessel at 13 years of age achieved a strong price of over US$30 million for its sale to a US carrier. Of the about 20 Americas trading vessels that were sold during the last four months over 80% went to end users. The transactions were fairly evenly spread with about the same numbers of 1,100, 1,700 and 2,500 TEU having been sold. After the last 700 TEU geared vessels were all sold to European based buyers, one recently went to an US operator during the summer. A Turkey-based cargo owner who used to charter vessels up to 3,000 TEU for trips from Turkey to Venezuela with food aid cargo also bought a 700 TEU ship as most owners at the moment do not feel like fixing such “difficult” employment. Generally, interest in newbuildings has been very high. About 80 ships between 1,000 and 3,500 TEU were ordered in 2021 so far. Two thirds of those vessels are however for the accounts of Asian operators, one quarter for tramp owners and the rest for global operators. But even the 20 ships that will be for charter, if not already backed by a long-term charter, are not really suitable for Caribbean trade as most lack reefer plugs, speed and gear. Of course, prices for new vessels have also moved strongly upwards with yards quoting up to US$40 million for high specification 1,800 TEU ships. Despite this increase, newbuildings still appear cheap as the red-hot charter market has caused second-hand prices of 10 to 15 year old, readily available ships to exceed order prices for similar-sized tonnage. Delivery dates are now clearly into 2024 and for some yards even 2025. A few last spots for 2023 can only be had for standard, repeat designs with Tier II engines.

46 Caribbean Maritime | October- January 2022

SELECTED CONTAINER FIXTURES SUB 1,000 TEU - CELLED May 21

Ingrid 698 TEU / 437@14 / 18on30 / 120rp

1 year US$ 11100 p/d gearless

Jun 21

Contship Max 966 TEU / 604@14 / 18on35 / 252rp

2 years US$ 15000 p/d

Jul 21

Vega Hercules 957 TEU / 604@14 / 18on43 / 252rp

5 months US$ 21000 p/d

Jul 21

Delphinus 603 TEU / 327@14 / 16on23 / 150rp

2 years

US$ 14000 p/d

1,100 TEU - GEARED, CELLED May 21

Vega Sachsen 1118 TEU / 712@14 / 20on42 / 220rp

2 years US$ 15000 p/d

Jul 21

Tampa Trader 1102 TEU / 705@14 / 18on22 / 220rp

3 years US$ 19000 p/d modern eco ship

Jul 21

New York Trader 1 year US$ 35000 p/d 1083 TEU / 650@14 / 20on43 / 200rp

Aug 21

Contship Leo 1118 TEU / 712@14 / 20on42 / 220rp

3 years US$ 21500 p/d

1,300 TEU - GEARED, CELLED Jun 21

AS Filippa 3 years US$ 18250 p/d 1338 TEU / 918@14 / 19on52 / 449rp

Jul 21

Contship Ice 3 years US$ 25000 p/d 1345 TEU / 925@14 / 20on52 / 449rp

Aug 21

Varamo 1296 TEU / 957@14 / 20on47 / 390rp

2 years

US$ 30250 p/d

1,700 TEU - GEARED, CELLED May 21

Hansa Horneburg 1732 TEU / 1275@14 / 20on58 / 379rp

3 years US$ 16400 p/d

May 21

San Adriano 1841 TEU / 1293@14 / 21 / 462rp

2 years US$ 19500 p/d high reefer trade

2,500 TEU - GEARED, CELLED May 21

Max Schulte 2345 TEU / 1780@14 / 12on13 / 500rp

3 years US$ 25000 p/d med - Canada trade

Jun 21

Haris 2194 TEU / 1546@14 / 19on47 / 490rp

2 years US$ 29000 p/d modern eco ship

Jun 21

Mandalay 2345 TEU / 1780@14 / 19on48 / 500rp

5 years US$ 25000 p/d modern eco ship

Jul 21

HSL Sheffield 2556 TEU / 1864@14 / 21on80 / 600rp

3 years US$ 27150 p/d forward fixture as of early 2022

Jul 21

Caucedo Express 2592 TEU / 1834@14 / 22on82 / 600rp

3 years US$ 36000 p/d cont - Caribs trade