MPP Charter Rates Increase in December

MPP Charter Rates Increase in December

Time charter rates for multipurpose vessels posted a double-digit rise in December, increasing by 12.2 percent, according to the latest data from shipping consultancy Toepfer Transport. ​​

The firm’s multipurpose index shows a daily time charter rate of US$7,518, up from US$6,700 per day for the same period in 2017. The rate also marked a slight increase on November’s level which stood at US$7,508.

The index suggests a positive outlook for breakbulk shipping moving into the new year, as the market continues to sustain growth despite headwinds due to oil price volatility, international tariffs, and investment uncertainty.

Toepfer Multipurpose Shipping Report combines input from owners, operators and charterers and is based on a 12,500 deadweight-tonne multipurpose/heavy-lift F-Type vessel for a six- to 12-month charter period.

Located in Hamburg, Germany, the company is an established shipbrokerage and one of the largest S&P brokers in Hamburg.

Photo: MPP charter rates. Credit: Toepfer