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Multipurpose charter rates remain stable

Time charter rates in the multipurpose shipping sector have remained stable 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 USD7,529 in June 2019. In May 2019, the rate stood at USD7,524.

However, it is an increase of USD204 on the June 2018 figures, which averaged out at USD7,325.

Speaking with HLPFI earlier this year, Björn Hollnagel and Eckhard Donner from BOCS Bremen Overseas Chartering and Shipping, explained that, despite the relatively stable condition of the market, “rates have not moved noticeably”. They added: “Unless special conditions apply for shipments, they remain under pressure.”

It is hoped that the second half of this year brings more transport requirements, compared to the first two quarters, which the multipurpose shipping line described as “uncharacteristically slow”.

It is important to note that BOCS specialises on West African trade lanes. The company recently added the multipurpose vessel BOCS Vision to its services between Europe and West Africa. The ship entered service in February and can handle heavy cargoes weighing up to 160 tonnes.

While rates remain under pressure for multipurpose operators, the Netherlands-headquartered Jumbo believes that the recovery is more apparent in the super-heavy lift segment. “Compared with previous years, clients are now open to discussions on long-term forward bookings, which was rarely the case for the previous years,” said Jumbo.

Earlier this week, the shipping line announced that it has been awarded the contract to transport and install wind turbine structures for the Yunlin offshore wind farm in Taiwan.

Jumbo’s project scope includes the transportation of 40 monopiles, 120 monopile sections and 40 transition pieces, as well as the offshore installation of 80 transition pieces. Preparation and planning works have already begun, with the first delivery scheduled to start in the fourth quarter of 2019; equipment installation will begin in mid-2020.

www.toepfer-transport.com

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