MPP Index shows first sign of normalisation

For the first time in months, the monthly Toepfer MPP Index has shown a sign of normalisation as it remained pretty much level for September. Toepfer Transport said in its latest monthly report that the Index value dipped 0.36 per cent from the previous month. 

TMI level for September 2024, landed at $13,088 per day, with no “spectacular news or events” happening in the period to cause major shifts. Despite the current dip, Toepfer Transport expects the TMI value to move up by 2.71 per cent in the following six months, and 4.24 per cent in September 2025.

“We monitor a normalisation of the market with charter rates moving sideways at healthy levels and now spectacular news or events,” Toepfer Transport analysts said.

The shipbroker also reports minimal movement in prices for newbuild as well as second-hand tonnage. “Second-hand prices for modern MPP vessels also remain on high levels, particularly in the large MPP ship size segment where availability of sales candidates remains scarce,” the analysts said.

Toepfer Transport said in its latest monthly report that the prices for 9,000 dwt, 12,500 dwt second-hand MPPs remained on the August levels at $10.75 and $15.50 million, respectively. The 30,000 dwt vessels’ price ticked up to $19 million, up from $18.75 million during the previous month.

Newbuilding vessel prices were $22 million, $31.5 million for the 9,000 dwt, and 12,500 dwt vessels. The only change was reported in the 30,000 dwt vessel size with the prices increasing from $52.25 million to $52.5 million.