Multipurpose index inching upwards with seasonal upticks across segments
The Drewry Multipurpose Time Charter Index could see an uptick in November as a potential rush in some segments is expected. For the month of October, the index was above the forecasted value.
According to the consultancy, the index landed at $8,640 per day, just above the previous forecast of $8,634 per day. It is the second month in a row that Drewry’s index has gone up slightly. “Our overall expectation is for no large changes to take place, however, some segments are seeing seasonal up ticks, helping to increase the index slightly,” the consultancy said.
Compared to October 2022, when the index landed at $10,025 per day, the current figures are 13.8 per cent down.
Entering the final months of 2023, some charterers are waiting to commit, which is likely to add to a rush in some segments again leading to another small increase in the index. Drewry’s Multipurpose Time Charter Index is expected to increase by 0.3 per cent in November, reaching $8,669 per day. This would result in a decline of 15.7 per cent since November 2022.