Time charter rates in the multipurpose shipping sector have dropped over the last month, according to shipbroker Toepfer Transport.
The average daily time charter rate for a 12,500 dwt/F-type heavy lift vessel stands at USD7,393 for January 2020. In December 2019, the rate was USD7,554.
Despite this drop, maritime consultancy Drewry is optimistic about the outlook for multipurpose shipping during 2020. In its latest report, the analyst said that it expects average vessel time charter rates to rise 6 percent in 2020, on the back of stronger demand across the entire dry cargo sector.
Increases will vary by vessel size, added Drewry, with those below 15,000 dwt attaining marginal improvements while larger ships are expected to achieve gains approaching double-digit percentage increases.