Key boxship time charter index loses ground for the first time this year

Key boxship time charter index loses ground for the first time this year

The influential New ConTex Index provided by the Hamburg Shipbrokers’ Association has lost ground for the first time this year, shedding three points to stand at 407. The index tracks boxship time charter rates.

“Whilst not unexpected because of the current weakness in the old panamax 4,250 teu class, it nevertheless comes as a small shock to those hoping the market would continue its upward trend even at a much slower pace that witnessed recently,” the association noted in its weekly report published today.

Although the 4,250 teu ships have experienced the largest losses, being marked down 2.4% and 3.0% (24 months and 12 months respectively) since last week, all the sizes tracked by New ConTex have been marked lower.

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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