For the second month in a row, Toepfer Transport’s Toepfer MPP Index has slipped, with September figures showing the effects of the European summer slump. According to Toepfer Transport’s latest monthly report, the Index slipped 5.86 percent from the previous month. 

The Hamburg-based shipbroker reported a TMI value of $21,608 for the month of September 2022, which compares with $22.954 in the previous month. This is still 53.43 percent above the figures posted by Toepfer Transport in September 2021.

Looking ahead six months, Toepfer expects the Index to edge downwards  a further 5.73 percent while it is expected to slip 9.44 percent over the following 12-month period.

Commenting on the September figures, the broker said, “The still high charter rates are slightly dropping. This is only partially caused by the current political and economic uncertainties and the return of the European summer slump.”

The report goes further on to say that the almost overheated market faces the inevitable market correction while the demand indicators show that the average charter rates will remain at high levels. As a result, the duration of new charter fixtures gets shorter.

Would you like to hear more about the state of the MPP market, charter rates current levels and forward predictions? Then join us at the Project Cargo Summit where Yorck Niclas Prehm, head of research at Toepfer Transport will share his thoughts. Register for free here and join us on September 28-30.