Spotlight

Drewry index predicts continued climb in MPV charter rates

Average daily rate for three sizes of multipurpose and heavy-lift ( MPV / HL ) vessels on a 10- to 12-month charter , with forecast

$ 9,000

USD per day

$ 8,500 8,800

$ 8,600

L

$ 8,400 L Jul Jan 2024 Jul

Index

Forecast

Notes : Drewry ' s Multipurpose Time Charter Index is based on time charter rates received from brokers , weighted across three vessel size segments : 5,000-7,500 dwt , 10,000-15,000 dwt , and 15,000-20,000 dwt .

Source : Drewry ' s Multipurpose Forecaster report © 2024 S & P Global

Vallehr / Shutterstock . com week ending June 8 , the USDA said . That followed a 12.7 % decrease in the week ending June 1 and an 8.2 % shortfall the week before that . On a nationwide basis , produce truckloads are down 4 % year over year as of last week , according to DAT Freight & Analytics . Both Mexico and California , leading produce growing regions , are generating fewer truckloads of vegetables and fruits this year . “ The Mexico produce season is starting to look like the peak arrived earlier this year , with volume around 6 % lower than last year ,” Dean Croke , principal analyst at DAT , said in a weekly market report .

Somali piracy surges amid attention to Houthis

As the Houthis menace shipping in the Red Sea and Gulf of Aden , drawing away the attention of regional and international security forces and pushing more carriers to route voyages around the Cape of Good Hope , Somalia-based piracy

has seen a resurgence . From Nov . 1 , 2023 , through June 4 , Somali pirates have committed 14 successful attacks on shipping and attempted 12 others that were not successful , according to William Farmer , a senior analyst with the global insights and analysis division of S & P Global , the parent company of the Journal of Commerce . That is a substantial uptick from six failed attacks reported in 2021 , six failed in 2022 and six failed from January to October 2023 , he said . Most of the successful hijackings were of fishing vessels and small cargo dhows near the Somali shore , Farmer said . However , the pirates have also taken to camouflaging captured fishing dhows among innocent fishing vessels working offshore and using them to attack commercial vessels in international waters .

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