The Drewry Multipurpose Time Charter Index has once again gone above the mark forecasted by the shipping consultancy, and the upward trend is expected to continue in July. 

In its latest monthly update, Drewry said that in June it forecasted the Time Charter Index to be at $9,094 per day. However, the index reached $9,165 per day. Compared to the previous month, the index ticked up 0.78 per cent.

There is, however, a more noticeable increase in the Multipurpose Time Charter Index value when compared to June 2023. At the time, Drewry reported an index value of $8,912 per day, 2.8 per cent below June 2024 figures.

“It is our expectation for the index to continue to increase. Drewry’s Multipurpose Time Charter Index is expected to increase by 0.4 per cent in July, reaching $9,201 per day,” the consultancy said.

This would put the July Index value 5.9 per cent above the figures reported in July 2023, according to the consultancy.