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Charter Rates Moving Sideways

Toepfer’s Multipurpose Shipping Index (TMI) for August 2022 is out.

The multipurpose shipping charter rates for this month stand at USD 22,954 according to the index. That’s a month-on-month decrease of -0.78 pct

“This month’s TMI once again shows a sideways movement. The market participants are still fixing for high levels though pressure begins to rise. The first indicator of the market slowing down are the Time Charter length and we see a definitive drop there. Most operators are hesitant to commit to these still high rates for a longer period.
This is a result of high macroeconomic uncertainty which is bound to grow with China now concluding military training at the border of Taiwan.

Still, the sideways trend and our TMI-P index shows, that market participants are still in an overall good mood. The large investments from countries around the world in renewable energy as well as oil and gas should provide the MPP sector with large cargo volumes for the years to come.”

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