Drewry, a leader in maritime research, has introduced new Breakbulk Sea Transport Indices to provide better market insights into the Project Cargo and General Cargo segments. This update replaces their previous Multipurpose (MPV) Time Charter Index, offering more refined and accurate reflections of the multipurpose shipping sector’s trends. The introduction comes as project cargo continues to dominate over general cargo, particularly since the post-COVID surge.
Dr. Ferenc Pasztor, Head of Ports and Specialized Shipping Research at Drewry, emphasized the need for this shift, highlighting that project cargo carriers are experiencing a more robust market compared to their general cargo counterparts. With projections indicating further increases in project cargo volumes, the industry is expected to witness a growing divergence between these market segments throughout the remainder of the decade.
The new indices, integrated into Drewry’s Multipurpose Shipping Forecaster service, aim to provide better insights into market dynamics. The indices consider a wider scope beyond vessel charter rates, looking at freight markets across multiple vessel categories such as MPV, dry bulk, containerships, and RoRo. Dr. Pasztor acknowledged the complexity of standardizing breakbulk freight rates compared to containerized shipping, but maintained that the indices still offer valuable guidance for stakeholders in the maritime sector.
This change signals Drewry’s commitment to offering more nuanced and robust market analysis in an evolving and increasingly specialized shipping industry. The indices will be updated and available on a monthly basis.
source: drewry