Good morning, | |||||||||||||||||||||
SCFI | Spot Price | Monthly Average | |||||||||||||||||||
NWE/TEU (20ft) | $1,242 | $1,242 | |||||||||||||||||||
USWC/FEU (40ft) | $1,808 | $1,808 | |||||||||||||||||||
Opening FFA Prices | World Container Index | SCFI | |||||||||||||||||||
NWE $/TEU | USWC $/FEU | | World Container Index (as of 3rd Apr) | | SCFI (as of 4th Apr) | | |||||||||||||||
Period | Bid | Offer | Bid | Offer | | (40ft) | | (20ft or 40ft) | | ||||||||||||
Apr-14 | 1060 | 1160 | 1850 | 1975 | | Shanghai - Rotterdam | +650 | $2,398 | (FEU) | | NWE | +28 | $1,242 | (TEU) | | ||||||
May-14 | 950 | 1100 | 1800 | 1925 | | Shanghai - Los Angeles | -96 | $1,773 | (FEU) | | MED | -54 | $1,347 | (TEU) | | ||||||
Jun-14 | 900 | 1025 | 1775 | 1925 | | Rotterdam - Shanghai | +19 | $860 | (FEU) | | USWC | -16 | $1,808 | (FEU) | | ||||||
April-Dec | 1075 | 1180 | 1905 | 2050 | | Genoa - Shanghai | +0 | $697 | (FEU) | | USEC | -16 | $3,262 | (FEU) | | ||||||
Q2-14 | 970 | 1095 | 1810 | 1940 | | Los Angeles - Shanghai | -77 | $792 | (FEU) | | | ||||||||||
Q3-14 | 1200 | 1325 | 1950 | 2100 | | Los Angeles - Rotterdam | +34 | $2,931 | (FEU) | | | ||||||||||
Q4-14 | 1050 | 1125 | 1900 | 2050 | | New York - Rotterdam | +29 | $1,397 | (FEU) | | | ||||||||||
Q1-15 | 1100 | 1250 | 1950 | 2100 | | | | ||||||||||||||
Q2-15 | 1125 | 1350 | 2050 | 2200 | | | | ||||||||||||||
Cal 15 | 1100 | 1300 | 1900 | 2100 | | | | ||||||||||||||
Latest Container FFA Interests (Asia-NWE):
· April is at $1,060/1,160
· May is being priced at $950/$1100
· Q4 is being worked at $1,050/1,125
Today’s container news
· FIS will be holding a workshop at the end of May for those wishing to gain experience and further understanding of container freight hedging and index linked contracts. Please see the attached flyer for further details.
· Maersk Line has joined Hapag-Lloyd in announcing a GRI on the Asia-North Europe and Asia-Med service. The increase will come into force from the 1st of May and will consist of USD 550 per TEU.
· K Line has predicted that 13,000-14,000 TEU vessels will become the workhorses of the Asia-Europe trade, of which the CKYHE alliance is likely to deploy at least 70 ships of this size in the years to come. Reports indicate that alliance members have 26 vessels in operation between this size range, whilst a further 34 are due for delivery up until 2017. K Line’s view is that the larger containerships with new types of fuel efficient technology will help carriers to improve cost competitiveness and reduce bunker consumption, which is a necessity to stay in the game in today’s age of persistent oversupply.
· PR News Service has revealed that CMA CGM is ending its Asia-Europe joint service as a vessel deployer on the China Shipping/UASC service, in preparation of the upcoming P3 Network. CMA CGM has marketed the service as its FAL 2, deploying just one 12,552 TEU vessel. As from July the service will continue to operate as the CSCL – AEX7 / UASC – AEC8, but will deploy six 14,000 TEU CSCL vessels backed up by a further five 13,000-13,500 TEU vessels from UASC.
· Singapore, the world’s busiest container port, has been readying itself for the age of alliances and megaships according to the port operator. PSA International chief executive Ran Chong Meng has said the port is seeking to meet demand from carriers by adjusting operations, upgrading facilities and consolidating its activities at a mega hub. Mr Tan said that for them it is about attending to carriers as individuals because they also have non-alliance cargoes, but at the same time recognising alliance requirements.
Sources: Lloyds List, PR News Service, Shanghai Shipping Exchange, World Container Index.
Container Derivatives
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