The trajectory of the Toepfer Transport’s Multipurpose (MPP) Index has remained unchanged, as the figures show a drop for the seventh month in a row. The only positive uptick since January 2023 happened in June last year.

The MPP sector charter rates, reflected in Toepfer Transport’s MPP Index, have now reached $11,660 per day, slipping some 1.6 per cent from the last month of 2023. The Hamburg-based shipbroker did point out that the activity over the holiday period was low.

Compared to January 2023 when the figures stood at $15,900, the MPP Index fell 26.67 per cent.

Looking forward, Toepfer Transport expects the index rates to go back up some 1.48 per cent over the following six months, while this time next year the TMI is expected to be 5.9 per cent higher.

“The trajectory of the TMI remains unchanged. Due to the many market actors having enjoyed the holidays and maybe some additional days on vacation, the activity was low, and so is the amount of reference fixtures,” Toepfer Transport’s analysts say. “We monitor that some mid- and long-term charters have been fixed above the index level, but it is yet unclear if or when these higher levels turn out to be trend.”

Newbuilding prices for 9,000 dwt, 12,500 dwt and 30,000 dwt newbuilds, according to Toepfer Transport, were at $20, $30.75 and $51 million, with the only change being an increase of $0.25 million for the 12,500 dwt class. Prices on the second-hand market remained unchanged at $10.50, $14.75 and $18.50 million for the 9,000 dwt, 12,500 dwt and 30,000 dwt vessels, respectively.