Toepfer Transport: seasonal slowdown reflected in short sea fleet earnings

Toepfer Transport: seasonal slowdown reflected in short sea fleet earnings

Photo source: MSC

European short sea fleet is sailing into the seasonal slowdown which is reflected in a slight drop in earnings, 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 €6108, while 4,800-5,600 dwt vessels were chartered for an average day rate of €7264, during the month of June, 2022.

June 2022 rates for the 3,200-3,800 dwt vessels edged down 1 percent percent from the previous month’s levels. TCE equivalent for 4,800-5,600 dwt vessels slipped 3.99 percent from the previous month. Compared to June 2021, day rates for 3,200-3,800 dwt vessels were up 61.25 percent while day rates for 4,800-5,600 dwt vessels operating in the European short sea market have increased 50.92 percent.

Toepfer Transport: seasonal slowdown reflected in short sea fleet earnings
Photo source; Toepfer Transport

Along with rising temperatures the holiday mood is increasingly spreading, making people leave for summer vacation and have business activities decelerate. We are back to a more ordinary seasonal slowdown scenario in the short sea sector with TCE’s only marginally sliding on the back of lower but still stable demand. Vessel earnings keep a solid level of more than 50 % above those achieved 12 months ago.

Author: Adnan Bajic

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