MPP Index moves sideways as US election results effect remain unclear

Steady demand from various cargo segments is keeping the multipurpose (MPP) vessel sector stable, the latest monthly report by Toepfer Transport shows. The Hamburg-based shipbroker further said that the effect of the recent US election results is yet to be seen. 

The Toepfer Multipurpose Index (TMI) for November landed at $13,157 per day, Toepfer Transport report shows. This is actually a 0.02 per cent blip from the $13,160 per day reported a month prior. Compared to November 2023, when the TMI stood at $12,208 per day, current TMI levels are 7.77 per cent higher.

Looking ahead, the shipbroker expects its index to rise 2.01 per cent, and a further 2.57 per cent over the following twelve-month period.

“The TMI index rate continues to be stable and is maintaining its expected sideways movement. There is steady demand from various cargo segments, which is just enough to sustain the current rate levels and as long as there is no significant change in demand in any of these segments, the outlook remains unchanged,” Toepfer Transport analysts said. “It is still unclear what impact the US election result will have. However, we are sure that we are in for some exciting weeks.”

MPP price indicators almost unchanged

There are no major changes to report in the second-hand market and new build prices are stable with only a very slight upward trend, the analysts said.

Newbuilding vessel prices for the 9,000 dwt, 12,500 dwt and 30,000 dwt units remained at October levels, namely at $22.25 million, $31.75 million and $52.75 million, respectively.

In the second-hand market, prices for 9,000 dwt, and 12,500 dwt vessels remained at $11.25 million and $15.5 million, respectively. The only change happened in the price guidance for the 30,000 dwt vessels, which went up from $19.50 million in October 2024, to $19.75 million in November 2024.