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Red-hot container market pushes multipurpose rates to pre-Covid levels

Multipurpose carriers currently benefit from the fact that several customers from the red-hot container market have opted to use multipurpose vessels to transport their cargoes, shows report.

Photo: AAL Shipping

The earnings party within container shipping, in which sky-high demand has sucked all available capacity and empty containers out of the market for nearly a year, has now started rubbing off on rates in the multipurpose segment, MPP.

Since time charter rates in the segment bottomed out in June last year, they have only known one way and that is up, reveals a new MPP report from German multipurpose specialist Toepfer, which also publishes the TMI index.

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