Time charter rates in the multipurpose shipping sector have continued to increase 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 stands at USD11,225 for July 2021. This is an increase of USD940 compared to June 2021’s figure of USD10,285.

Toepfer’s average time charter rate in July 2020 stood at USD6,391; the rates have been rising at an increasing rate since.

Toepfer commented that the ageing fleet, a historically low orderbook and the upcoming regulatory and environmental requirements have imposed high pressure on both the supply and the demand side of the multipurpose shipping sector, and this will be the guiding theme of the coming months.

The shipbroker added that it believes the high charter rates and the correspondent asset prices will persist for a few more months.