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Shippers Forced to Book Cargoes Well in Advance

Toepfer’s Multipurpose Shipping Index (TMI) for September 2021 is out.

The multipurpose shipping charter rates for this month stand at USD 14,038 according to the index. That’s a TMI year-on-year increase of 115.18 percent and a month-on-month increase of 13.26 percent.

According to Toepfer, “while container and wind power related cargoes are further floating the available cargo space, the Shippers and Forwarders are forced to book their cargoes now fairly in advance instead of spot or prompt, as in the past, to ensure that the transport will take place within the required time frame.

There are complaints that some carriers stopped nominating which vessel will perform a voyage or refuse to give a laycan for cargoes except against a premium. The market is changing rapidly, but still, it has to be pointed out that the current rate levels are required to sustain the costs of the inevitable fleet modernisation.”

The graph covers the development over the past 12 months.

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