acf domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/ecg/ecgassociationdev/wp-includes/functions.php on line 6121Project Cargo Journal — 2023-05-08
Maritime and Ports
Pressure on the multipurpose vessel charter rates from other sectors like containers, Ro-Ro and drybulk continues, as reflected in the new charter rates assessment by Drewry. The consultancy noted its Multipurpose Time Charter Index has slipped again in 2023 April, although the rate of the drop is a slower one.
The Drewry Multipurpose Time Charter Index landed at $9,069 per day in 2023 April, in line with Drewry’s expectations. This is a 1.1% reduction from the previous month and some 18.8% compared to 2022 April.
The consultancy repeated its sentiment from the previous month that this gradual rate of decline is set to continue.
“Project cargoes are still seen as the underlying support for the rates, and are helping to slow the decline. It remains our expectation that rates will be kept above pre-Covid levels by the project sector,” Drewry’s analysts say.
Drewry’s Multipurpose Time Charter Index is expected to decline marginally by 0.9% in 2023 May, reaching $8,989 per day. This would result in a 19.16% since 2022 May, but would still remain 7.8% above 2021 May.