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 May of $9,054 pd, and it is now at $9,094 pd. Larger MPVs continued to increase over May while the smaller vessels remained stable but did not decrease.

Drewry’s latest assessment (including June forecast)
We expect the index to continue this rate of increase in June, with Drewry’s Multipurpose Time Charter Index rising by 0.5% to reach $9,136pd. This would be 2.5% above the June 2023 figure.

Drewry’s Multipurpose Time Charter Index is a (fleet) weighted average of the dayrates of three vessel size bands: 5-7.5 k dwt,
10-15 k dwt and 15-20 k dwt.

Source: Drewry