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Coaster Freight Index: Comprehensive data on shortsea shipping

CFI // week 33, 2013

16.08.13
17:00

The Indian Ocean freight market remains sluggish in the middle of August. Charterers from the Muslim countries have only started coming back to the market after Ramadan and are quite passive so far. The CFI of the Indian Ocean has not changed.

As for SE Asia, transportation demand is getting stronger gradually at the Indonesian ports, although trading is generally low in the region. Freight rates for coaster shipments stay stable. Most of Russian vessels are still involved in the coastal traffic in the Far East. There is a huge oversupply of vessels in the basin now amid weak export transportation demand. The CFI of the Far East has not changed over the week, neither has the index of the whole Asian and Pacific region.

Grain shipments continue to increase in the Baltic and North Seas freight market and transportation of fertilizers from the Baltic ports has intensified a bit as well. Shipping costs of these products have climbed up on some routes, but the CFI of the Baltic Sea has come up only by $0.4/t, while the index of the North Sea has stayed unchanged. Thus, the CFI of the Atlantic Ocean has risen by 0.3%.

Trading has remained weak in the Mediterranean Sea in the middle of August despite the end of Ramadan. The CFI of the Mediterranean Sea has not changed much, neither has the Black Sea index (rates for some grain shipments have slightly improved in the Black Sea). The Azov Sea freight market has also been mostly stable. A relatively large number of sea-river vessels available in the region let charterers keep freight rates firm for the second week in a row. The CFI of the Azov Sea and of the whole Mediterranean region have been steady.

The CFI of the global market has remained at the last week's level.

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