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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 41

16.10.17
16:39

Global CFI has been growing for the seventh consecutive week. This week, the index has added $0.45/t. Similar to early October, the increase has been caused by higher freight rates in all major coaster regions. The Azov Sea CFI has risen by $1.02/t, the BlSea CFI by $0.66/t, the EMed CFI by $0.24/t, the WMed CFI by $0.14/t, the Caspian Sea CFI by $3/t. The Lower Baltic CFI has grown by $1.03/t, the Gulf of Finland CFI by $1.13/t, the North Sea CFI by $0.96/t and the Far East CFI by $0.35/t. The ISM Commodity Index has added only 0.8 points over the week. The situation in the grain market remains favorable for shipowners thanks to steady demand for Black Sea wheat and barley; the export quotes for the above products have inched up again. In the meantime, no improvements have been seen in exports of Ukrainian maize yet. Despite a general decline in coal imports to Turkey, local buyers still show quite healthy demand for small-tonnage shipments from Russia, seeking to maintain stocks. The situation in the steel market looks alarming for shipowners. Steel scrap demand has weakened again in Turkey, sales of November lots of square billets and rebar are sporadic. Nevertheless, steel traffic from Ukraine, Russia and Turkey will remain brisk at least until mid-October, taking into consideration active purchases of cargoes of October-November production in September.

Global Coaster Freight Index

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CFI is the weighted average of voyage freight rates assessments on main trade routes for grain, steel, scrap, pig iron, coal, fertilizers, minerals and construction cargoes.
List of rates includes those for shipments of above mentioned commodities in 3,000-10,000 t lots.

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