Ro-ro shipping specialist Höegh Autoliners said that tight capacity is the key element holding back its activities. Rates remain at record-high levels while high and heavy/breakbulk cargo comprised 25 percent of shipments in May 2024.
In its latest trading update Andreas Enger, ceo of Höegh Autoliners, said: “I am pleased to report another month with stable and solid performance. Capacity is still the limiting factor, and we continue to serve and prioritise long-term strategic customers. The share of cargo transported under contract has increased to above 75 percent. Volumes increased somewhat from April and rates are stable at record high levels. High and heavy and breakbulk cargo accounted for 25 percent of shipments in May.”
In May 2024, Höegh Autoliners said that it transported 1.2 million cu m of cargo on prorated basis. Between March and May, volume totalled 3.6 million cu m.
Average prorated gross freight rate in May 2024 was USD97.2 per cu m, down 1.2 percent compared to average gross rate in Q1 2024. Average prorated gross freight rate in the last three months was USD97.6 per cu m. Average prorated net freight rate in May 2024 was USD83 per cu m, down 0.6 percent compared to average net rate in Q1 2024. Average prorated net freight rate last three months was USD83.6 per cu m. High-heavy/breakbulk’s share of prorated volumes carried in May was 25 percent. In the last three months the prorated share was 23 percent.
