The European shortsea fleet earnings have continued to bounce back, rising again for the third month in a row, according to the latest monthly report by Toepfer Transport.

According to the Hamburg-based shipbroker, time charter equivalents for 3,200-3,800 dwt vessels stood at €5,871, while 4,800-5,600 dwt vessels time charter equivalents reached a figure of €6,910, during the month of November 2022.

November 2022 TCEs for the 3,200-3,800 dwt vessels actually ticked up 5.4 percent percent from the previous month’s levels. TCE equivalent for 4,800-5,600 dwt vessels rose 4.4 percent from the previous month. Looking further back, November TCEs for the 3,200-3,800 dwt vessels were 3.4 percent bellow the November 2021 figures. TCEs for the 4,800-5,600 dwt vessels operating in the European shortsea market were down 17.1 percent below the figures reported in November 2021.

Commenting on the market, Toepfer Transport’s analysts said, “The time charter equivalents in the European shortsea market have again climbed with the TSI-35 gaining 5,4 percent m-o-m and the TSI-52 performing 4,4 percent better than last month. In the winter season, generally more cargo gets shipped and more tonnage is tied up in weather caused port congestion.”