The Drewry Multipurpose Time Charter Index tracks one-year period charter rates across a basket of vessel types and sizes and forecasts the market movement over the coming month. The vessel types include breakbulk and project cargo ships.
The Drewry Multipurpose Time Charter Index is above our forecasted value for April of $8,850 pd, and it is now at $9,048 pd. The past month gave better than expected performance for larger MPVs leading to the larger increase.
Source: Drewry Multipurpose Forecaster
We believe this increase is due to the additional tonne miles required as a result of the issues with both major canals. The expectation is for the index remain around this newly increased level in May, with the possibility of a small increase. Drewry’s Multipurpose Time Charter Index is expected to increase by 0.1% in May, reaching $9,054pd. This would be 0.7% above the April 2023 figure.
Drewry’s Multipurpose Time Charter Index is a (fleet) weighted average of the dayrates of three vessel size bands: 5-7.5 k dwt, 10-15 k dwt and 15-20 k dwt
For access to the latest charter rates and forecasts across a range of multipurpose vessel types subscribe to Drewry’s Multipurpose Forecaster. Published quarterly it provides 5-year forecasts and market updates for the global Breakbulk and Heavy Lift shipping markets, together with supplementary monthly updates of the latest market developments, including charter rates and asset values.
Market sectors covered
Countries with subscribing Maritime Research clients.
Leading industry publications feature content from our Maritime Research reports each month (2023 monthly average)
New reports and title updates released in the 12 months before December 2023
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