Thanks to the internet your ability to source rates and quotes is extremely transparent. I signed up for a commercial service at Searates.com. Essentially it's an open tender service that allows you to get basic quotes from multiple sources allowing you to check pricing across the globe. It's free, though I reckon it's probably worth the 100 bucks a year for research purposes.
This is the "CTEXIDEX" or ConTex is a Container Ship Time Charter Assessment Index. It is a company-independent index. The index is compiled by a group of international operating brokers and is updated twice a week.
Mangement couldn't be any clearer:
“Right now container rates are at a level where we’re at break-even,” Chief Executive Officer Nils Smedegaard Andersen said in a phone interview. “Rates obviously need to go higher if we’re to be at break-even for the full year as we had a loss in the first quarter. But I do think that this could happen.”
I don't trade the stock, so I don't have to spend hours looking into the reputation of company officials by reading annual reports and press releases. All I know is that something has got to give and this is a space and an index worth watching. If fuel prices start to move down as I suspect they will then will freight rates remain steady or will the over capacity in the sector cause a new freight war to break out?
I'm packing today for Italy. Mrs. Investment Banker Cyclist has given me the OK to go to Italy to be measured for a new bike. I'm off to the little town of Piasco to Cicli Mattio which is located at the start of the Colle dell'Agnello. I'm packing the Pinarello with the Easton clinchers and the big 11-27 rear cassette. This is the Colle dell'Agnello:
Yikes . . . maybe I'm not brave enough. We'll see? Perhaps I'll stick on the roads around Barbaresco.
Awesome . . . Ciao!