MPP Market Sentiment Index ticks up

The multipurpose (MPP) and breakbulk Market Sentiment Index has continued its upward trajectory, increasing slightly for the fourth time in a row. The Hamburg-based One World Shipbrokers noted that their MPP Index reached a level of 54.6 in its 15th edition. It was only a slight increase when compared to the level of 54.3 posted in the previous report.

“A resilient summer season has been supported by a surprisingly firm container sector, the lagging effects of additional tonne miles being sailed and improving economic sentiment generally. Interest rate cuts are rooting in and the potentially disruptive dockworkers strike in U.S. East Coast and Gulf ports was quickly resolved swerving away from what might have been an election drag for democrats and a disruptive event for shipping,” One World Shipbrokers said in the report.

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But for carriers, Israel’s conflict with its near neighbours continues to have an outsize influence rendering Red Sea and Suez Canal passages all but impossible, One World Shipbrokers’ analysts say.

“With only dim prospects of any improvement on the horizon current trade patterns are creating new supply dynamics with the African continent looking like a bulkhead between east and west. Notwithstanding current headwinds, carriers are reporting cargo supply is currently stable and pointing to a generally positive outlook.

The one-year MSI forecast to the third quarter of 2025 has dipped slightly this edition but remains over the current reading at 55.4. The MSI forecast for the next edition in January 2025 is for another step up to 55.4, the analysts said.