The Drewry Maritime Equity Indices for the week ending January 10, 2025, revealed a dynamic landscape across various shipping sectors, highlighting contrasting performances influenced by global and regional factors. While some sectors showed resilience, others faced notable declines, underscoring the complexities of the maritime market.
The Drewry Port Equity Index (DPEI) recorded a 2.2% weekly drop, mirroring a similar 1.9% decline in the S&P 500. This index’s year-to-date (YTD) performance has been less encouraging, with a 2.9% decline, driven by the sharper 5.6% fall of Regional Terminal Operators (RTOs) compared to the 1.7% dip in Global Terminal Operators (GTOs). The revised composition of the DPEI, which now excludes Tianjin Port Development, adds a nuanced layer to this trend.
In the container shipping sector, the Drewry Container Equity Index (DCEI) plummeted by 7.6% week-over-week (WoW), despite a 2.1% rise in the Drewry World Container Index (WCI). The sector’s YTD downturn of 6.0% significantly underperformed the S&P 500’s modest 0.9% decrease. This disparity points to ongoing challenges, possibly tied to pricing strategies and operational costs.
Meanwhile, the Drewry Dry Bulk Equity Index experienced a positive 0.9% WoW increase, marking a rare bright spot in the indices. With a 2.3% YTD growth, it outpaced the S&P 500, reflecting buoyant market conditions driven by bulk commodity demand.
The crude tanker segment emerged as a standout performer, with the Drewry Crude Tanker Equity Index surging 15.3% over the week. This sharp rebound follows a challenging 2024 when the index plunged 29.3%. Firming Very Large Crude Carrier (VLCC) rates appear to have catalyzed this recovery.
Similarly, the Drewry Product Tanker Equity Index climbed 9.1% WoW, fueled by rising LR rates. Despite a 23.8% drop in 2024, the YTD improvement of 11.2% in 2025 suggests a potential market turnaround.
In the liquefied gas markets, the Drewry LNG Shipping Equity Index and Drewry LPG Shipping Equity Index presented contrasting narratives. The LNG index dipped by 1.0% WoW amid weak spot rates but posted a modest 0.9% YTD increase. Conversely, the LPG index rose by 3.5% WoW and has soared 10.3% YTD, benefiting from a tight vessel supply and robust Very Large Gas Carrier (VLGC) spot rates.
These results underscore the evolving dynamics within maritime equity markets, shaped by macroeconomic conditions, operational challenges, and sector-specific factors. As 2025 unfolds, stakeholders will likely continue navigating this intricate and volatile seascape.
Source: drewry
