Good morning, | |||||||||||||||||||||
SCFI | Spot Price | Monthly Average | |||||||||||||||||||
NWE/TEU (20ft) | $1,305 | $1,305 | |||||||||||||||||||
USWC/FEU (40ft) | $1,913 | $1,913 | |||||||||||||||||||
Opening FFA Prices | World Container Index | SCFI | |||||||||||||||||||
NWE $/TEU | USWC $/FEU | | World Container Index (as of 1st May) | | SCFI (as of 30th Apr) | | |||||||||||||||
Period | Bid | Offer | Bid | Offer | | (40ft) | | (20ft or 40ft) | | ||||||||||||
May-14 | 1275 | 1400 | 1800 | 1925 | | Shanghai - Rotterdam | +21 | $2,124 | (FEU) | | NWE | +221 | $1,305 | (TEU) | | ||||||
Jun-14 | 1175 | 1300 | 1800 | 1900 | | Shanghai - Los Angeles | -58 | $1,839 | (FEU) | | MED | +214 | $1,458 | (TEU) | | ||||||
Jul-14 | 1050 | 1200 | 1775 | 1875 | | Rotterdam - Shanghai | +0 | $823 | (FEU) | | USWC | -9 | $1,913 | (FEU) | | ||||||
May-Dec | 1165 | 1275 | 1965 | 2115 | | Genoa - Shanghai | +0 | $718 | (FEU) | | USEC | +0 | $3,328 | (FEU) | | ||||||
Q3-14 | 1200 | 1325 | 1950 | 2100 | | Los Angeles - Shanghai | +0 | $780 | (FEU) | | | ||||||||||
Q4-14 | 1125 | 1225 | 1900 | 2050 | | Los Angeles - Rotterdam | -1 | $2,928 | (FEU) | | | ||||||||||
Q1-15 | 1100 | 1200 | 1950 | 2100 | | New York - Rotterdam | -10 | $1,346 | (FEU) | | | ||||||||||
Q2-15 | 1125 | 1300 | 2050 | 2200 | | | | ||||||||||||||
Q3-15 | 1150 | 1350 | 2075 | 2250 | | | | ||||||||||||||
Cal 15 | 1100 | 1300 | 1900 | 2100 | | | | ||||||||||||||
Latest Container FFA Interests (Asia-NWE):
· Recent GRI announcements continue to push May higher to $1275/$1400
· June has now also increased to $1175/$1300
· Q4 is being worked at $1,125/1,225 and there is interest in this period for 2015 also.
Today’s container news
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· Container lines in the Transpacific Stabilisation Agreement have recommended a guideline increase of USD 700 per FEU for reefer cargos containing so called protein cargoes, which have fallen to their lowest levels in more than five years. According to executive administrator Brian Conrad, the increase is being announced early to provide adequate notice for shippers who typically export sales in this cargo type 60-90 days in advance. The increase is due to come into effect from the 1st of July.
· PR News Service has revealed that OOCL has announced a general rate increase on eastbound cargo moving from North Europe and the Mediterranean to Asia of USD 200 per TEU and USD 300 per FEU. The increase will come into force from the 1st of June.
· Rickmers Maritime has reported an 8 percent decline in net profits to USD 9.9m in the first quarter compared to the year before. Charter revenue declined 4 percent to USD 33.9m in the first quarter and was attributed to the redelivery of two of Rickmers Maritime’s fleet. Over the period operating expenses increased 13 percent to USD 9.9m, however this was partially offset by a 22 percent reduction in finance costs.
· RBS has reduced its shipping portfolio by GBP 1.5bn during the past 12 months, with the size of its book now reduced to GBP 6.2bn, a fall of 19 percent when compared to the same period a year earlier. The company’s latest report also shows signs of vessel values stabilising with RBS recording a positive impairment of GBP 3m for shipping, compared to the GBP 310m hit it took in the final quarter of last year. The bank has historically enjoyed a strong position in lending to Greek shipowners, however because the bank is 81 percent state-owned following a government bailout in 2008, RBS is under pressure to concentrate on UK companies.
Sources: Lloyds List, PR News Service, Shanghai Shipping Exchange, World Container Index.
Container Derivatives
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