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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