Time charter rates in the multipurpose shipping sector slipped further 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 USD6,441 for May 2020, a drop of USD395 compared to April 2020’s rate of USD6,836.

For a year-on-year comparison, rates in May 2019 stood at USD7,524.