Good morning, | |||||||||||||||||||||
SCFI | Spot Price | Monthly Average | |||||||||||||||||||
NWE/TEU (20ft) | $1,214 | $983 | |||||||||||||||||||
USWC/FEU (40ft) | $1,824 | $1,851 | |||||||||||||||||||
Opening FFA Prices | World Container Index | SCFI | |||||||||||||||||||
NWE $/TEU | USWC $/FEU | | World Container Index (as of 27th Mar) | | SCFI (as of 28th Mar) | | |||||||||||||||
Period | Bid | Offer | Bid | Offer | | (40ft) | | (20ft or 40ft) | | ||||||||||||
Apr-14 | 1025 | 1125 | 1825 | 1900 | | Shanghai - Rotterdam | -236 | $1,748 | (FEU) | | NWE | +371 | $1,214 | (TEU) | | ||||||
May-14 | 925 | 1075 | 1750 | 1850 | | Shanghai - Los Angeles | -61 | $1,869 | (FEU) | | MED | +508 | $1,401 | (TEU) | | ||||||
Jun-14 | 900 | 1025 | 1650 | 1800 | | Rotterdam - Shanghai | -12 | $841 | (FEU) | | USWC | -41 | $1,824 | (FEU) | | ||||||
April-Dec | 1060 | 1190 | 1900 | 2040 | | Genoa - Shanghai | +0 | $697 | (FEU) | | USEC | -15 | $3,278 | (FEU) | | ||||||
Q2-14 | 950 | 1075 | 1740 | 1850 | | Los Angeles - Shanghai | +0 | $869 | (FEU) | | | ||||||||||
Q3-14 | 1175 | 1300 | 1950 | 2100 | | Los Angeles - Rotterdam | +0 | $2,897 | (FEU) | | | ||||||||||
Q4-14 | 1050 | 1200 | 1900 | 2050 | | New York - Rotterdam | +0 | $1,368 | (FEU) | | | ||||||||||
Q1-15 | 1100 | 1250 | 2000 | 2150 | | | | ||||||||||||||
Q2-15 | 1125 | 1350 | 2050 | 2200 | | | | ||||||||||||||
Cal 15 | 1100 | 1300 | 1900 | 2100 | | | | ||||||||||||||
Latest Container FFA Interests (Asia-NWE):
· April is slightly lower due to declines on the index $1,025/1,125
· May is being priced at $925/$1075
Today’s container news
· China Cosco Holdings is planning to order five 14,000 TEU vessels as it looks to deepen its ties with China Shipping Group in the container sector. The announcement appears to have been made in an attempt to follow the path led by Maersk. Chairman Ma Zehua said that “we will humbly learn from Maersk Line and learn how to better control costs”. When comparing the company’s losses to Maersk Line’s profits, the Chairman said “as a bellwether in the container market, Maersk is an excellent enterprise, while we are a soon to be excellent enterprise. It was also recognised that further alliances offer scale, but scale alone cannot solve the industries problems. However what it will allow for is for better optimisation of resources and therefore greater cost control.
· Wan Hai has posted a TWD 2.1bn (USD 68.9m) from its continuing operations, up 16 percent from the previous year, despite a 5 percent decline in revenues to USD 59.7bn. The company however did cut its operating costs by 5 percent. The intra-Asia specialist also reported a TWD 792m in other unspecified non-operating income, helping to boost income attributable to the company’s owners to TWD 2.7bn, up around 68 percent over the previous year.
· The Polish port of Gdansk will open its books to potential investors and outline the process of privatising one of its subsidiary companies, port of Gdansk Cargo Logistics, which it has put up for sale. The port of Gdansk Authority wishes to sell the whole block of shares in PGCL to an investor that will become involved in building the company’s strategy.
· Factory output in Japan declined 2.3 percent in February adding to concerns about a slowdown the world’s third largest economy. The February figure was the first decrease in three month and the 2.3 percent decline took many by surprise especially after posting an expansion in January of 3.8 percent.
Sources: Bloomberg, Lloyds List, The LoadStar, Shanghai Shipping Exchange, World Container Index.
Container Derivatives
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