Drewry: Multipurpose Time Charter Index Expected to Increase Further in September

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 again slightly above our forecasted value for August of $9,245 pd, and it is now at $9,259 pd. Larger MPVs continued to increase throughout the month while smaller vessels reduce slightly as the seasonal dip continued.

Drewry’s latest assessment (including September forecast)
The index is expected to continue this increasing path. Drewry’s Multipurpose Time Charter Index is expected to increase by 0.4% in September, reaching $9,301pd. This would be 8,1% above the September 2023 figure.
Source: Drewry