The summer season is in full swing which is clearly visible in the earnings of the European short sea fleet. The Hamburg-based analyst and shipbroker, Toepfer Transport notes the short sea earning have taken another small hit. 

According to the shipbroker’s report, the average rates for 3,200-3,800 dwt vessels stood at €5,661, while 4,800-5,600 dwt vessels were chartered for an average day rate of €6,839, during the month of July, 2022.

July 2022 rates for the 3,200-3,800 dwt vessels edged down 7.3 percent percent from the previous month’s levels. TCE equivalent for 4,800-5,600 dwt vessels slipped 5.9 percent from the previous month. Compared to July 2021, day rates for 3,200-3,800 dwt vessels were up 43,9 percent while day rates for 4,800-5,600 dwt vessels operating in the European short sea market have increased 39.7 percent.

The drop in earnings, according to Toepfer Transport, could be due to the seasonal summer dip, however, overall, the time charter equivalents remain on a quite strong level.