Time charter rates in the multipurpose (MPP) vessel sector, reflected in the Toepfer’s Multipurpose Index (TMI), are experiencing the full effect of the summer vacations. The Hamburg-based shipbroker noted the outlook remains optimistic.

In its latest report, Toepfer Transport noted that TMI for the month of August landed at $13,545 per day, 4 per cent down compared to the previous month. Toepfer Transport expects the rates over the following six months to regain some 2.4 per cent. For the following twelve months, the shipbroker foresees an index rise of 5.17 per cent.

Compared to August 2022, when TMI stood at $22,954/day, June 2023 figures are 41 per cent down.

“It is summer vacation season in Europe and after a few years with only low effect, the absence of quite some people from their desks takes its toll. The summer doldrums are back and in a market which was steadily weakening over the past months this caused our index further to decline,” Teopfer’s researchers say. “The TMI is still well above its 5-year average which currently is at USD 11,921.”

The Orderbook

Toepfer Transport said in its latest monthly report that the prices for 9,000 dwt, 12,500 dwt and 30,000 dwt newbuilds as well as the vessels in the secondhand market showed no change.

To remind, newbuilding vessel prices were $20 million, $30.5 million and $51 million across the board in July. In the second hand market prices stayed at $11.00 million for the 9,000 dwt vessels, while the prices for vessels in the 12,500 dwt and 30,000 dwt bracket remained at $15.25 million and $19.25 million, respectively.

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