Maritime Research


Latest research

Multipurpose Time Charter Index

The Drewry Multipurpose Time Charter Index tracks one-year period charter rates across a basket of vessel types and sizes and forecasts the market movement over the coming month. The vessel types include breakbulk and project cargo ships.

Drewry’s latest assessment – December 2020

The Drewry Multipurpose Time Charter Index increased to $6,134 per day in November, representing a rise of 2.8% compared to the previous month. Over the year to November Drewry’s index is down 6.6%. Drewry expects the index to rise a further 3.7% in December to reach $6,360 per day.


Drewry Multipurpose Time Charter Index (US$ per day)

Tracker Chart

Source: Drewry Multipurpose Forecaster


Rates rose in all segments over November, with a recorded improvement of almost 3% to average $6,134pd. In the smaller, more short-sea orientated sector, momentum built progressively through the month and there is a good expectation for the continuation of this firm market to year-end, as charterers look to cover December orders before the holidays. Rates averaged around $5,500pd over the month and were up almost 2% compared to October.


For the larger, more heavylift capable vessels, there are some signs that the shortage of capacity in the container sector is having a positive effect. Although some of that capacity shortage is equipment based, congestion on the Panama Canal is exacerbating the situation and there have been a few reports of the lines chartering MPVs.


Whilst we can see there is a definite correlation with recent rate rises, it is worth noting that the so-called container-friendly MPVs are few and far between. Moreover, as container shipping’s capacity constraints are more container equipment than vessel space related, the likelihood is that shippers will move some cargoes back to breakbulk, opening this potential demand surge to the rest of the MPV fleet. Either way rates in this sector are on the up and we expect this to continue to the year end with average rates across the main sectors rising to around $6,300pd.

Related Research: Multipurpose Shipping Sector

For access to the latest charter rates and forecasts across a range of multipurpose vessel types subscribe to Drewry’s Multipurpose Forecaster. Published quarterly it provides 5-year forecasts and market updates for the global Breakbulk and Heavy Lift shipping markets, together with supplementary monthly updates of the latest market developments, including charter rates and asset values.


Find out more


Market sectors covered


Countries with subscribing Maritime Research clients.


Leading industry publications feature content from our Maritime Research reports each month (2018 monthly average)


New reports and title updates released in the 12 months before December 2018

Latest Maritime Research

The primary source of market insight, analysis and advice, trusted by the global maritime and shipping industry.

Complete coverage

From tankers to dry bulk, containers to ports - we keep a constant watch on the world's maritime markets

Rich heritage

More than 40 years continuously charting and analysing the world's maritime markets

Proudly independent

Our voice is our own and is not defined by others
Ship Operating Costs Annual Review and Forecast 2020/21

Ship Operating Costs Annual Review and Forecast 2020/21

Annual Review and Forecast · Latest release 23 Nov 2020

One of Drewry’s flagship reports, Ship Operating Costs 2020/21 provides one of the most complete annual assessments of ship operating costs available in a single source. The report contains historical data for the period 2015 to 2019, assessments for 2020 and forecasts to 2025.

Learn more
Container Market Annual Review and Forecast 2020/21

Container Market Annual Review and Forecast 2020/21

Annual Review and Forecast · Latest release 08 Oct 2020

The container industry is facing more challenging headwinds with gloomier economic outlooks and rising protectionism adding another level of unpredictability to the market. Our Container Market Annual Review and Forecast provides the accuracy, detailed insight and industry knowledge required at such a time.

Learn more

View more