Drewry: Multipurpose Time Charter Index expected to increase further in July

LONDON : 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 June of $9,094 pd, and it is now at $9,165 pd. Smaller vessels remained stable with some vessels seeing a small seasonal decrease, while larger MPVs continued to increase over June.

Drewry’s latest assessment (including July forecast)

It is our expectation for the index to continue to increase. Drewry’s Multipurpose Time Charter Index is expected to increase by 0.4% in July, reaching $9,201pd. This would be 5,9% above the July 2023 figure..