Toepfer’s Multipurpose Shipping Index (TMI) for November 2021 is out.
The multipurpose shipping charter rates for this month stand at 17,407 USD according to the index. That’s a TMI year-on-year increase of 158.69 percent and a month-on-month increase of 11.06 percent.
The TMI index continues its rise, increasing constantly for the 17th consecutive month since June 2020 and it seems even a new benchmark in the region of USD 20,000 is not out of reach.
Owners who may offer F-Type positions in Asia, are seeing the ‘20k’ already for trips or fixtures with shorter periods. The desperate search for tonnage and the need to move containers and project cargo keeps the competition pushing freights and time charter levels to new highs.
“After years of planning, AAL has managed to place a newbuilding order of four 32.000 tonnes deadweight MPP vessels with 3 cranes of 350 tonnes in a market environment that could be no better proof that the addition of modern, efficient tonnage is badly needed. It appears, however, that the newbuilding price levels have reached a plateau, and in our view, a further increase of prices can only be sustained if the freight levels stay strong for some more months which would strengthen owners’ confidence that investments will pay off and the shortage of ships is not a temporary phenomenon. Owners who engage in the purchase of second-hand vessels, have to pay up for the few modern MPP vessels still available for sale.”