The expectations for the last month of the year 2023 are in line with the MPP sector trajectory that was reflected in Toepfer Transport’s Index over the past few months. Again, for December, Toepfer Transport’s Multipurpose Index slipped, while expectations further down the road remain positive. Looking at the year overall, it was regarded as good, yet below the expectations. 

The Hamburg-based shipbroker showed in its latest monthly review that the index dropped below $12,000 per day for the month of December 2023, stopping at $11,850 per day. In terms of percentage, the drop was on par with the previous couple of months at 2.9 per cent. As a reminder, the index was at $12,208 per day in November.

Compared to December 2022, Toepfer Transport’s TMI slid down 33.5 per cent.

Looking forward, Toepfer Transport expects the index rates to go back up some 2.9 per cent over the following six months, while this time next year the TMI is expected to be 8.2 per cent higher.

“The TMI follows its trend of the past months with a slight decline but an increasingly positive outlook,” Toepfer Transport’s analysts say. “Due to its definition, which is closely tied to a real existing ship type and having a focus on project cargo, it does not reflect and include movements of other, maybe similar looking, but quite differently performing markets. The year draws to a close and it can be stated that 2023 was a good year but it remained below the expectations.”

Newbuilding prices for 9,000 dwt, 12,500 dwt and 30,000 dwt newbuilds, according to Toepfer Transport, were at $20, $30.5 and $51 million, without any change for the last few months. Prices on the second-hand market have shifted further downwards a bit landing at $10.50, $14.75 and $18.50 million for the 9,000 dwt, 12,500 dwt and 30,000 dwt vessels, respectively. This is a $250,000 drop in prices across the board, similar to the previous month.