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 October of $8,634 pd, and it is now at $8,640 pd. Our overall expectation is for no large changes to take place, however some segments are seeing seasonal up ticks, helping to increase the index slightly.

Drewry’s latest assessment (including November forecast)
Entering the final months of 2023, some charterers are waiting to commit, which is likely to add to a rush in some segments again leading to another small increase in the index. Drewry’s Multipurpose Time Charter Index is expected to increase by 0.3% in November, reaching $8,669pd. This would result in a decline of 15.7% since November 2022.

Source: Drewry