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 $8,669 pd, and it is now at $8,701 pd. Our overall expectation is for the index to remain around this level with slight changes occurring as the year comes to a close.

Drewry’s latest assessment (including December forecast)
Now in the final month of 2023, a slight increase is expected as charterers aim to cover the holiday period for some MPV categories. Drewry’s Multipurpose Time Charter Index is expected to increase by 0.4% in December, reaching $8,734pd. This would result in a decline of 15.7% since December 2022.

Source: Drewry