Business, Freight News, Sea

Drewry introduces Breakbulk Sea Indices

[ November 1, 2024   //   Gary G Burrows ]

Drewry, the independent maritime research consultancy, has introduced Breakbulk Sea Transport Indices for project and general cargo vessel segments, to “better reflect the nuances of the multipurpose sector.”
The new indices, which replace the previous Multipurpose Time Charter Index, highlight the relative strength of project cargo, with carriers in this niche vessel segment experiencing a stronger market than general cargo since the “Covid boom,” Drewry said.
“With further increases in project cargo volumes anticipated in the second half of this decade, we expect the current divergence in market dynamics to continue,” said Dr. Ferenc Pasztor, head of ports and specialized shipping research. “To better present the status of the discreet sub-categories within the overall multipurpose shipping sector, we have introduced these new Breakbulk Sea Transport Indices, which will be updated and published monthly on the Drewry website.”
This long-planned update also presented the opportunity to look beyond the vessel charter market and create indicators which provide guidance for the freight market.
“While we recognize these new indices are by no means a perfect representation of the seaborne breakbulk freight market,” Pasztor said, “the inclusion of various sectors (MPV, dry bulk, containerships, roll-on, roll-off) and vessel capacity categories provide a robust market assessment in a sector where freight rates cannot be standardized in the way shipping containers facilitate standardization.”
Drewry’s Multipurpose Shipping Forecaster (https://tinyurl.com/yw7y76sm), published quarterly, provides five-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.

Tags: Drewry