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.
Drewry’s latest assessment (including May forecast)
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 $9,048pd. This would be 0.7% above the April 2023 figure.
Source: Drewry
