Multipurpose ship charters continued to decline in April. The Drewry Multipurpose Time Charter Index, which takes into account charters for MPP vessels of various sizes, including breakbulk and project cargo, showed a 1.15% drop in the fourth month of the year, with daily rates at $9,069, and estimated a further decline (of 0.9%) for May, to $8,989/day.
According to the market analyst, what is driving this trend is mainly increased competition from other sectors such as containers, Ro/Ro and dry bulk.
Overall, freight rates have fallen by 19.16% since May last year, although they remain 7.8% higher than in 2021.
Translation by Giles Foster
