The Drewry Multipurpose Time Charter Index remained relatively flat in January, with the sector settling into a slower decline, says an article published on Project cargo journal.
Shipping industry expect
Analysts at the research and consulting services provider to the maritime and shipping industry expect the trend to continue throughout 2023.
Multipurpose vessel sector
According to the latest monthly report, Drewry Multipurpose Time Charter Index landed at $9,855 per day in January. The residual effect of the decreasing day rates in both the Dry Bulk and Container sectors have already taken place and the multipurpose vessel sector has settled into a much slower decreasing trend.
Month on month, the Drewry Multipurpose Time Charter Index remained flat as it compares to the previous month.
Decline rates gradual
Drewry analysts believe that various project cargoes which are suited to the multipurpose vessel market will keep this decline in rates gradual moving forward.
The MPV charter market will be under pressure at the beginning of 2023, with Drewry’s Multipurpose Time Charter Index declining marginally by 1.0 percent in February, reaching $9,795/day. This would represent a drop of around 12.5 percent since February 2022, but still remains 44 percent above February 2021.
Did you subscribe to our newsletter?
It’s free! Click here to subscribe!
Source: Project cargo journal
