Latest news from Heavy Lift & Project Forwarding International Magazine

Multipurpose charter rates rise

Time charter rates in the multipurpose shipping sector have improved slightly over the last month, according to the latest data from shipbroker Toepfer Transport.

According to Toepfer, the average daily time charter rate for a 12,500 dwt/F-type heavy lift vessel was USD7,547 in August 2019. In July 2019, the rate stood at USD7,426.

This represents an increase of USD253 on the August 2018 figures, which averaged out at USD7,294.

In the lead up to January 1, 2020 – the deadline for compliance with the IMO’s sulphur cap – it is anticipated that freight rates for the multipurpose sector will rise significantly, particularly in the third quarter of 2019.

Carriers are faced with two options: installing exhaust gas cleaning systems (scrubbers), or making the switch from heavy fuel oil (HFO) to low sulphur fuel. The majority of multipurpose shipping lines have chosen to burn compliant fuel and the preparations for this have already started.

As part of the switch from HFO to low sulphur fuel, companies have to prepare the fuel tanks, piping systems and engines of its vessels ready for compliance. As a result, significant costs will incur before the official enforcement of the regulation.

According to industry executives, these increased freight rates will serve to only cover these costs.

www.toepfer-transport.com

Heavy Lift | News

Challenges facing towage and offshore operators thumbnail image

Challenges facing towage and offshore operators

September 20 - Sandro Lipani, director chartering and operations for Malta-based Augustea Maritime Transportation, discusses some of the challenges of operating in the towage and offshore support sector.
Views: 439
Allseas wins decommissioning work thumbnail image

Allseas wins decommissioning work

September 20 - Allseas has been awarded a contract for the removal, transfer, load in and disposal of the Gyda platform in the Norwegian part of the North Sea.
Views: 326
Innovation overhauled thumbnail image

Innovation overhauled

September 20 - DEME’s offshore installation vessel Innovation has undergone a major refit at Damen’s Verolme shipyard in Rotterdam.
Views: 373
Sun shines with Chipolbrok thumbnail image

Sun shines with Chipolbrok

September 20 - Chipolbrok has delivered a range of heavy and oversized components using its vessel Chipolbrok Sun, including 56 wind turbine tower sections in Piteå, Sweden.
Views: 322

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.