Toepfer Transport: MPP market correction continues
The multipurpose vessel sector has continued its correction into the festive season, with Toepfer Transport expecting a slowdown in decline over the following months.
Month-on-month, Toepfer Transport Multipurpose Index (TMI) slipped 5.75 percent settling on $17,827 for December 2022. The Hamburg-based shipbroker noted in its latest report that the index is expected to slip a further 3.42 percent in the following six months with a twelve-month drop expected to be at around 4.2 percent. Compared to December 2021, when TMI stood at $18.973, December 2022 figures are 6.04 percent down.
In their comment on the TMI progression from the festive season onwards, Toepfer Transport analysts said, “We don’t experience a freefall but rather a steady 6 percent m-o-m downward trajectory. What is new however, is that the TMI-P (six months ahead assessment) is assessing a slowing down in rate decline.”