Toepfer’s Multipurpose Shipping Index (TMI) for October 2021 is out.
The multipurpose shipping charter rates for this month stand at USD 15,673 according to the index. That’s a TMI year-on-year increase of 136.92 percent and a month-on-month increase of 11.29 percent.
According to Toepfer, there is no sign that the hot MPP market is cooling down soon. The time charter rate levels in all ship sizes keep on climbing and for ships that are available prompt or in a few weeks’ time, high premiums are paid that have surpassed the peak levels of 2008.
Forwarders and logistic companies have a hard time accommodating their container, breakbulk and project cargoes
to fulfill their contractual obligations. Also, wind turbine manufacturers struggle to find suitable tonnage – able to load heavy and oversized wind components – to perform their scheduled shipments without heavily straining their budgets.
The sale and purchase market is red hot and demand for MPP tonnage is huge with increased interest also from the
container sector. Some sellers are inspired to increase their price tags along with higher demand to such an extent that
potential buyers hesitate to follow, so quick deals are no longer easy to be done.
The availability of MPP newbuilding slots remains scarce. As the container and bulk ship ordering spree continues, the window of opportunities for non-standard ship designs including MPP vessels gets even smaller.
The graph covers the development over the past 12 months.