Multipurpose rate revival too late for some

Rates in the multipurpose (MPP) sector are rising again but the recovery might have come too late for a handful of smaller European owners.

Time charter rates for MPP/heavylift vessels have risen every month since hitting their nadir in March.

Rates for charters of six months to 12 months have risen to about $6,314 per day after barely scraping above $6,000 per day in March, according to Toepfer Transport’s Multipurpose Index (TMI).