01 / Commercial research
MOL Drybulk · Multipurpose shipping research
A charter benchmark comparison and a vessel-fit check for wind turbine blade cargo.
Context
During my placement at MOL Drybulk, I looked at how charter benchmarks and project cargo could inform a view of the multipurpose shipping market.
My role
I compared the Toepfer and Shoun Marine indices, looked at the vessel specifications behind the benchmarks and researched wind turbine blade movements.
Approach
I tracked how the benchmarks moved over time and treated differences in vessel specification as context for interpreting the spread. For the cargo research, I looked at where blades are made, where they are loaded and what those movements could require from a ship.
Worked example
Toepfer’s standard TMI assesses a six- to twelve-month charter for a 12,500 dwt F-Type multipurpose vessel. Its public June 2025 briefing showed USD 13,029 per day in May and USD 12,895 in June, a fall of USD 134 per day, or about 1.03%.
If another benchmark is flat across those months, I would check the vessels and charter terms it represents before treating the difference as evidence of weaker demand. Even with matching terms, an index movement alone can’t identify what drove it.
Toepfer’s June 2025 briefing in The Uncontained
Wind cargo implication
For a blade shipment, I would compare the blade and transport-frame dimensions with usable deck length before shortlisting a vessel. A vessel can have sufficient deadweight and still be unsuitable if the frames cannot be positioned and secured. The lift plan also needs to account for crane capacity at the required outreach.
What I learnt
A rate comparison is more useful when the reader can see which vessels it describes and where the comparison stops being like-for-like.
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