Shippers and forwarders have been pushed more towards booking cargoes well in advance as the demand for vessels and lack of available tonnage persist in the market. 

The Hamburg-based broker Toepfer Transport, released its Multipurpose Shipping Index, which reflects the high demand and the shortage of available tonnage. The index has jumped to $14,083 for the month of September. This represents a 115 percent year-on-year jump and a 101 percent rise since the start of the year. Compared to the month of August, Toepfer Multipurpose Shipping Index, this is a 13.25 percent rise.

The broker further said, “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.”

In its brief statement, Toepfer Transport further noted that the market is changing rapidly, but stressed that it has to be pointed out that the current rate levels are required to sustain the costs of the inevitable fleet modernisation.

To remind, the Toepfer Multipurpose Shipping Index is a monthly average timecharter rate assessment established by a panel of operators, owners and brokers for a 6-12 months timecharter for a 12,500-dwt MPP/FL F-Type vessel.