Toepfer’s Multipurpose Shipping Index (TMI) for May 2021 is out.
The multipurpose shipping charter rates for this month stand at USD 8,984 according to the index. That’s a TMI year-on-year increase of + 39.49 percent and a month-on-month increase of + 11.02 pct.
According to Toepfer, the charter rates are quickly and steadily increasing and many shippers fear a further tightening of available cargo space.
There is almost no tonnage available in the open charter market since most operators try to extend their expiring charters at an early stage in order to avoid losing tonnage to competitors. It is yet unclear how the market will react to the shortfall of cargo related to the Mozambique LNG project and the merger of DSV Panalpina and Agility.