The Drewry Multipurpose Time Charter Index is above our forecasted value for September of $8,511 pd, and is now at $8,607 pd. The slight increase is due to an uptick for smaller MPV vessels, our expectation is now for slight increase in rates.
Source: Drewry Multipurpose Forecaster
The seasonal downturn in utilisation has ended and in combination with the continued support by the Project market means rates are expected to have a small increase in October. Drewry’s Multipurpose Time Charter Index is expected to increase by 0.3% in September, reaching $8,634pd. This would result in a decline of 13.8% since October 2022.
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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.
