New Dry-Freight Box Prices on the Rise

MarineLink.com
Monday, April 14, 2014
File image CCL3

Prices for new dry freight containers increased in the opening months of 2014 for the first time in two years, observes Drewry's latest 'Container Leasing and Container Census'.

Standard box prices declined gradually throughout 2013, falling by late in the year to their lowest point since 2009, and they have so far barely managed to recover 10% by April 2014. They presently stand at much the same level as one year ago.



“It is too early to say whether the equipment pricing trend as truly reversed, as the box equipment market remains volatile,” said Andrew Foxcroft, consultant with Drewry Maritime Research.


Drewry notes that new container box prices, are still not showing any signs of increases.

 Last year’s relative absence of any peak season pick-up in the summer months depressed dry freight container production for another year, with the annual total for 2013 falling short of 2012, and well short of 2011. 


The outlook for container manufacturers in 2014 is not expected to be very different to last year, and thus remains relatively downbeat. Container demand is not forecast to recover much, even if the uptake in the usually busy 2Q/3Q period may yet prove stronger than in 2013.

Global container equipment fleet growth is again predicted to fall short of 5% for 2014, with the box lease industry almost certain to account for most expansion and container carriers ordering a minority share of new containers. This has already dominated during the opening quarter, with box lessors taking the majority of new dry freight containers and an even bigger share of new reefer boxes.



Similarly, charter owners, rather than container carriers, are behind most of the recent orders for containerships. 

Nevertheless, as in 2013, dry freight/reefer lease rate are likely to remain under pressure, with little likelihood of any recovery in the initial cash returns generated from new equipment rental. Just as new pricing is expected to stay depressed and volatile, so will rental per diems continue with their struggle to remain at parity.


Source: Drewry’s Container Leasing and Container Census

http://www.drewrysupplychains.com/

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Diana Extends Containership Time Charters

Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato   Diana Containerships Inc., a global

BMT Supports Samalaju Port Development

BMT subsidiaries in the Asia-Pacific region have been awarded a contract to provide design expertise for an advanced bulk-material handling system for the emerging port of Samalaju in East Malaysia.

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Finance

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Container Ships

Diana Extends Containership Time Charters

Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato   Diana Containerships Inc., a global

CMA CGM Acquires OPDR

The CMA CGM Group has acquired the German shipping company Oldenburg-Portugiesische Dampfschiffs-Rhederei GmbH & Co. KG (OPDR), CMA CGM founder, chairman and CEO Jacques R.

Matson Raises 2015 Westbound Hawaii Box Rates

Matson, Inc., a U.S. carrier in the Pacific, announced that Matson Navigation Company, Inc. (Matson) will raise its rates for the company's Hawaii service by $225

Marine Equipment

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

A Classic Repower

The tug Falcon was built by Modern Marine Inc. in 1978. In the intervening years, companies that employed her have changed hands a number of times until 2013 when Vane Line Bunkering of Baltimore,

Rolls-Royce Wins US Marine Corps Contract

Rolls-Royce has been awarded a new, two-year contract to provide aftermarket engine support for the US Marine Corps and Air Force V-22 fleets, which provides

Consulting

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

BMT Supports Samalaju Port Development

BMT subsidiaries in the Asia-Pacific region have been awarded a contract to provide design expertise for an advanced bulk-material handling system for the emerging port of Samalaju in East Malaysia.

UniMarine Opens Office in Pireaus

UniMarine announced the opening of its new office UniMarine South Europe & Mediterranean. Located in Piraeus (Greece), the office will be servicing the Southern

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2565 sec (4 req/sec)