April 11, 2005

New index shows containership charter rates are accelerating

Ship broker Harper Petersen & Co., based in Hamburg and London, is offering a new type of containership charter rate index--and it is currently showing "renewed acceleration of the high that has prevailed in the charter markets since 2002."

The overall index is based on a data pool that includes records going back as far as 1986.

A total of 8 individual indices are provided for container ship categories from 750 to 5,200 TEU.

For each class of vessel, all time charter parties with a defined minimum or maximum term are included in the index.

The reporting period in each case is one calendar week.

Unlike other indices, the HARPEX re-determines weightings each year on the basis of the size of the fleet and cost-covering rates. This means iy includes only the tonnage available in the charter market.

"It gives the larger classes more weighting, and shows the market more realistically," explains Jens Mahnke, Managing Director of Harper Petersen & Co.

Developed in cooperation with leading academics, economists and shipping experts, the HARPEX is updated weekly and is transparent to all.

The current HARPEX Report of April 7 2005 shows renewed acceleration of the high that has prevailed in the charter markets since 2002. The rating scale for container ships rose in the first Quarter by a further 13 percent to 2,183 points. This follows on from "exceptionally good development" in 2004.

"The dynamism in the container market is remarkable," says Jens Mahnke, "with unbroken progress over the past three years. The charter rates were up by an average of 33 percent in 2002, 60 percent in 2003 and 80 percent in 2004. And in 2005 we are expecting consolidation of the market at a high level."

Established in London in 1943, Harper Petersen is the exclusive broker for a fleet of 151 all-container ships in the size segments 1,000 to 8,200 TEU and a total capacity of around 530,000 TEU.

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