Toepfer Transport: short sea charter rates remain flat in May

Income of the European short sea fleet has remained flat with results depending on the vessel’s trading areas and positions these days, the Hamburg-based shipbroker Toepfer Transport said in its recent report. 

According to the shipbroker’s report, the average rates for 3,200-3,800 dwt vessels stood at €6171, while 4,800-5,600 dwt vessels were chartered for an average day rate of €7566, during the month of May, 2022.

May 2022 rates for the 3,200-3,800 dwt vessels edged up 0.9 percent from the previous month’s levels. TCE equivalent for 4,800-5,600 dwt vessels edged down 0.7 percent from the previous month. Compared to May 2021, day rates for 3,200-3,800 dwt vessels were up 60.74 percent while day rates for 4,800-5,600 dwt vessels operating in the European short sea market have increased 60.64 percent.

“Coaster voyage results are very much depending on the vessel’s trading areas and positions these days. The short sea fleet is so far still successfully navigating in a two-tier market where unprecedented premium freight levels can be achieved for shipments ex Russian ports – which only a small number of owners are willing to accept – and unusual weak demand for tonnage in the Baltic. The Mediterranean is stronger than usual with cargo volumes ex Turkey dominating, attracting ships to stay in the region,” the report reads.