Toepfer Transport’s MPP Index is continuing on its upward trajectory as unrest in the Middle East continues boosting fleet utilization. It is the third month in a row that the Index has shown an uptick. 

According to the Hamburg-based shipbroker Toepfer Transport, its MPP Index for April 2024 has gone up again, landing at $12,259 per day, rising 1.9 per cent month-on-month. The April 2024 figure is 16 per cent below the $14,595 per day reported in April 2023.

Looking forward, Toepfer Transport expects the MPP Index to climb 3.54 per cent over the following six months. and 6.75 per cent over the next twelve months.

“Rising demand, as well as the ongoing threat to shipping caused by the Houthi attacks have a quite positive impact on the fleet utilisation. This is underlined by carriers fixing ships on time charter at rates above index levels,” Toepfer Transport analysts said in their latest report.

On the asset side, the second-hand market has shown a slight decline. Toepfer Transport said that the prices for 9,000 dwt,12,500 dwt vessels in the market have dipped from $10.50 million and $14.75 million in March to $10.25 million and $14.5 million, respectively. Prices for the 30,000 dwt second-hand vessels remained at $18.50 million.

“We monitor a slight decline in second-hand prices, which is also driven by the limited activity in the market. The newbuilding prices remain at firm levels,” the analysts said.

Newbuild vessel prices were $21.5 million, $30.75 million and $51 million across the board.