Glimmer of optimism for MPP sector despite stubborn rates

Longer charters and a rise in secondhand sales could herald a recovery in the multipurpose (MPP) market, but charter rates have hardly budged yet.

Rates for workhorses of the MPP sector have fluctuated around current levels for a year, and little variation is expected in the coming months, according to a quarterly report by Toepfer Transport.

The Toepfer Multipurpose Index (TMI), which ­assesses six to 12-month time charter rates for 12,500-dwt F-type heavylift MPP vessels, stands at about $7,500 per day.