Three of shippings less high-profile sectors are enjoying their time in the sun courtesy of the red-hot containership market.
Earnings for ro-ros, reefers and multipurpose (MPP) vessels have increased by between 45% and 200% year on year as of the end of October, according to Clarksons.
They have been the major beneficiaries of the knock-on effects of repeated record highs in container freight rates and charter rates, surging asset values as well as major port congestion and disruption to supply chains.
Reefers, long considered a dying breed of ship, are enjoying a revival as shippers of perishable foods find themselves unable to get their products onto containerships.
"Acute shortages of available containers and soaring box freight rates have led to a robust increase in demand for specialised reefer vessels," Clarksons said. "The featured reefer spot rate reached $1.18 per cubic foot [cbf] in October, up over 200% year on year."
Elsewhere, the ro-ro sector has seen a significant improvement in market conditions with the 3,000 to 4,000-lane-metre one-year time charter rate up 45% year on year.
"Ro-ro freight volumes have picked up firmly following the severe negative impacts of Covid-19 on demand in 2020 but 'spillover' has again had an impact, with ro-ro operators reporting increased shipments of 'unboxed' cargoes," Clarksons said.
Record container markets have also generated major impetus in the multipurpose sector, with shippers unable to find reliable or cost-effective boxship capacity instead chartering MPPs or "unboxing" cargoes to be shipped as breakbulk.
"With additional support from rebounding breakbulk trade and positive bulker markets, the one-year charter rate assessment for a 17,000-dwt/950-teu MPP for liner business stood at $30,000 per day at the end of October, the highest level on record and up 230% year-on-year," the shipbroker said.
The bulk carrier sector, particularly at the smaller end, has also seen additional "spillover" demand from the "unboxing" of container cargoes.
"This has added further impetus to already firmly improving markets; handysize trip earnings, for example, were up around 200% year on year at end October," Clarksons said.
