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

The multipurpose shipping charter rates for this month stand at USD 23,099 according to the index. That’s a month-on-month increase of 1.47 pct

“The MPP sector is currently driven by a wait-and-see attitude. The economy is on the brink of a recession and while the sentiment across OECD member countries has fallen for 11 straight months and hasn’t been this low since 2009, the MPP market rates continue to stay at historically high levels. Due to the long lead times for large projects, negative economic trends usually reach the MPP market with a certain delay and some indicators give hope that the ongoing surge in demand, especially from the renewables sector, may mitigate some of the upcoming macroeconomic pressure.”

Facing the uncertainty of when, how long and how hard the recession will hit the market, both the MPP second hand and the newbuilding markets show very low activity. Some owners are still actively promoting their newbuilding ideas but most still have some way to go to turn their plans into effective orders.

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