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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 15


Global CFI has dropped by $0.27/t over the week ended April 15. This is, firstly, due to a sharp downward trend in sea-river rates in the Azov Sea amounting to another $3.06/t this week and, secondly, given a slowdown in the North European market (the Gulf of Finland CFI has decreased by $0.58/t, the Lower Baltic CFI by $0.39/t, the North Sea CFI by $0.17/t). The Far East CFI has sagged by another $0.21/t. A $15-30/t surge in IFO and gasoil prices in the first half of April puts additional pressure on shipowners’ earnings. The ISM Commodity Index has dropped by almost 3 points this week given lower prices for finished and semi-finished steel products. Demand for square billets and HRC remains weak in both the MENA countries and Europe. Turkish buyers increasingly show interest in steel scrap with shipments in May; meanwhile, export quotes for the commodity have held steady. There is strong demand for Black Sea grain, particularly for Russian-origin wheat. Note that prices for wheat sourced from Russia keep growing despite the ruble devaluation. Prices for Ukrainian wheat and maize have stabilized after a long increase.

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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