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

Drewry’s latest assessment (including October forecast)

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.