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.
Drewry reports that the Drewry Multipurpose Time Charter Index is slightly above its forecasted value for July of $9,201 pd, and it is now at $9,212 pd. The seasonal dip for smaller vessels dampened the index increase, but demand for larger MPVs was enough to give an overall index increase for July.
Drewry’s latest assessment (including August forecast)
The Drewry’s Multipurpose Time Charter index is expected to continue this increasing path, with a 0.4% in increase in August, reaching $9,245pd. This would be 7,7% above the August 2023 figure.
About Multipurpose Time Charter Index
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.
Source: Drewry – Drewry Multipurpose Forecaster
