Activity seems to be returning to the shortsea market, as reflected in the Toepfer Transport’s Shortsea Index which has been growing for the past couple of months.

In its latest monthly review of the shortsea sector, the Hamburg-based shipbroker said that TSI had made a clear improvement. The activity had picked up in September already, however, cargo flow in all major regions picked up significantly in October.

The time charter equivalents for 3,200-3,800 dwt vessels (TSI-35) stood at €4,192, while 4,800-5,600 dwt vessels (TSI-52) time charter equivalents reached a figure of €5,723, during October 2023. This was a 7.7 per cent jump from the September figures for the TSI-35, and a 5.5 per cent jump for TSI-52.

“Finally, the short sea market is showing clear signs of improvement, and the cargo flow in all major regions has picked up significantly. The Baltic is offering nice opportunities and a firm environment with a good mix of different commodities ready to be shipped,” Teopfer Transport’s analysts said.

“These days, many cargo enquiries are available for one open ship position, so owners are once more enjoying having a choice to make in the spot market, in contrast to a few weeks ago, when they were happy if there was even just one shipment they had the chance to fight for, if there was no own contract cargo they could call upon,” the analyst said.