Drewry introduces new Breakbulk Sea Transport Indices and incorporates within its multipurpose forecaster service

October 4, 2024

To better reflect the nuances of the multipurpose sector, Drewry has introduced Breakbulk Sea Transport Indices for both Project and General Cargo vessel segments, replacing the previous Multipurpose Time Charter Index.

Beyond the overall strength of the wider MPV sector, the new indices highlight the relative strength of Project Cargo, with carriers in this niche vessel segment experiencing a stronger market than General Cargo since the Covid boom. “With further increases in project cargo volumes anticipated in the second half of this decade, we expect the current divergence in market dynamics to continue,” said Dr Ferenc Pasztor, Head of Ports and Specialised Shipping Research. “To better present the status of the discreet sub categories within the overall multipurpose shipping sector, we have introduced these new Breakbulk Sea Transport Indices, which will be updated and published monthly on the Drewry website.”

Drewry Breakbulk Sea Transport Indices – Latest month September

Source: Multipurpose Shipping Forecaster, Breakbulk Sea Transport Indices

This long-planned update also presented the opportunity to look beyond the vessel charter market and create indicators which provide guidance for the freight market.

“While we recognise these new indices are by no means a perfect representation of the seaborne breakbulk freight market,” continued Dr Pasztor, “the inclusion of various sectors (MPV, dry bulk, containerships, RoRo) and vessel capacity categories provide a robust market assessment in a sector where freight rates cannot be standardised in the way shipping containers facilitate standardisation.

About Multipurpose Shipping Forecaster

For the latest charter rates and forecasts across a range of multipurpose vessel types subscribe to Drewry’s Multipurpose Shipping Forecaster. 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.