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Time charter rates on the up

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

The average daily time charter rate for a 12,500 dwt/F-type heavy lift vessel was USD7,515 in October 2019, said Toepfer. In September 2019, the rate stood at USD7,490.

This represents an increase of USD16 on the October 2018 figures, which averaged out at USD7,499.

In its latest multipurpose shipping report, Toepfer pointed to the various macroeconomic forecasts that indicate a slowdown in growth as well as an uncertain outlook for the multipurpose market.

The TMI is oscillating around USD7,500 and Toepfer anticipates that this will continue to be the case for some time.

www.toepfer-transport.com

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