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.

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.