Toepfer’s Multipurpose Shipping Index (TMI) for May 2022 is out.
The multipurpose shipping charter rates for this month stand at USD 22,577 according to the index. That’s a TMI month-on-month decrease of 0.82 percent.
For the first time in 22 months, the TMI is closing with a slight decrease, a minus of 0.82 percent representing a rate level of USD 22.577 for a time charter period of 6-12 months. The market dynamic has lost some steam in the light of the latest uncertainties connected with the Ukraine war and Chinese lockdowns, also prompting market participants to be more cautious in their forward projections. However, sentiments in general are positive and it is expected that demand in Asia will rebound as soon as Chinese lockdowns will be lifted, providing new impetus.
Newbuilding price developments leave room for further increases as material prices are still climbing, but we are keeping assessments for MPP newbuilding prices unchanged on high ground, but have to make another upward adjustment to second-hand prices as latest transactions have again overtaken purchase prices achieved last months amid strong demand. It is still a challenge for potential buyers to get their hands on suitable MPP tonnage.