ShippingWatch

Multipurpose rates down USD 1,000 per day since February

The effects of the coronavirus outbreak have only just started to affect the multipurpose and heavy lift markets in earnest, at a time when operators are already looking into an offshore market that all but vanished overnight. All eyes are on one market in particular.

Photo: PR / AAL

Stakeholders in the multipurpose industry knew the first half of 2020 would be difficult and that the coronavirus pandemic would undoubtedly have a negative impact on the market.

At least that was what the managing director of the world's fourth-largest multipurpose cargo shipping company AAL Shipping, Kyriacos Panayides, said when ShippingWatch interviewed him in mid-March.

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