The European shortsea fleet earnings have disrupted the downward trajectory from the recent months, moving almost sideways in September, the latest monthly reports by Toepfer Transports reveals. 

According to the Hamburg-based shipbroker, the average rates for 3,200-3,800 dwt vessels stood at €5,340, while 4,800-5,600 dwt vessels were chartered for an average day rate of €6,436, during the month of September 2022.

September 2022 rates for the 3,200-3,800 dwt vessels actually ticked up 1.6 percent percent from the previous month’s levels. TCE equivalent for 4,800-5,600 dwt vessels rose 3.7 percent from the previous month. Compared to September 2021, day rates for 3,200-3,800 dwt vessels were still up 23.2 percent while day rates for 4,800-5,600 dwt vessels operating in the European short sea market are up 14.4 percent.

“In September, earnings have moved almost sideways indicating an end to the dropping rates of the earlier months. TCEs are not quite as high compared to the beginning of the year but still remain around 20 percent higher year on year.”