Latest news from Heavy Lift & Project Forwarding International Magazine

Multipurpose charter rates dip

Time charter rates in the multipurpose shipping sector have declined 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 USD7,524 in May 2019, a fall of USD86 in comparison April 2019.

The rate, however, is still an increase on the May 2018 figures, which averaged out at USD7,247.

Operators in the multipurpose and heavy lift shipping sector are, in general, decidedly more positive this year in comparison to last. Maritime consultancy Drewry is also bullish about the prospects for the year ahead and forecasts improving rates through 2019, fuelled by rising volumes of project cargo traffic.

Still, the rates remain on the low side. John Pittalis, marketing and communications manager at Singapore-headquartered AAL, explained: “A historic oversupply of tonnage, declining demand for project cargo and competition from other sectors such as bulkers, ro-ro and container carriers, have all led to freight rates far below breakeven levels and this has still been the case so far in 2019.”

However, he added that the sector is now seeing the green shoots of recovery. One area that is bolstering this uptick is the renewable energy sector. This, combined with an increase in oil and gas offshore project work over the next few years, could see the multipurpose and heavy lift sector pick up, as the two sectors compete for tonnage availability.

Toepfer's monthly TMI index is based on six to 12-month time charter rates and is compiled using data obtained from operators, owners and brokers.

www.toepfer-transport.com

Heavy Lift | News

Seville ships Haliade towers thumbnail image

Seville ships Haliade towers

June 14 - Tower sections that will make up General Electric’s (GE) Haliade-X offshore wind turbine have been loaded onto the multipurpose vessel Palmerton at the port of Sevilla, Spain.
Views: 499
Jumbo lands Yunlin contract thumbnail image

Jumbo lands Yunlin contract

June 13 - Jumbo has been awarded the contract to transport and install wind turbine structures for the Yunlin offshore wind farm in Taiwan.
Views: 671
SAL flies high with jib extension thumbnail image

SAL flies high with jib extension

June 12 - SAL Heavy Lift has acquired a fly jib crane extension that can be installed on its Type 183 vessels, Lone and Svenja.
Views: 709

Heavy Lift Across The World

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