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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 9


Global CFI has held largely steady in early March. A slight drop in rates in the Azov Sea ($0.08/t down), the Black Sea ($0.23/t down) and the North Sea ($0.12/t down) has been completely offset by a $0.43/t increase in freight rates in the Gulf of Finland caused by further worsening of ice conditions in the region. The Black Sea coaster market has been softening little by little for several consecutive weeks. In the Azov Sea region, the charterers have managed to avoid another increase in sea-river rates for the first time in a few weeks.

The development of Global ISM Commodity Index remains inspiring for shipowners, as it promises favourable trends in the market this spring. This week, the index has risen by another 3.3 points and surpassed the level of 300 points for the first time in past 12 months. Demand for maize and wheat from Ukraine and Russia remains pretty strong, that keeps boosting the prices for these products. Quite healthy interest in steel scrap from Turkish mills is also pushing the relevant quotes up further. BlSea-origin square billets are actively exported to Turkey and the MENA countries. Prices for finished steel products (particularly for rebar and HRC) have increased.

Global Coaster Freight Index

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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