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Global CFI // week 50


Despite steadily growing rates in the Gulf of Finland ($0.31/t up), the WMed ($0.24/t up) and the Far East ($0.32/t up), Global CFI has sagged by $0.09/t after December 10 due to another $0.26/t drop in sea-river rates in the Azov Sea, as well as given an outlined decrease in the BlSea CFI (0.09/t down). The ISM Commodity Index has added another 4.5 points this week, though the overall situation in the commodity markets can hardly be called favorable for shipowners. Prices for steel products and scrap continue to grow. Meanwhile, steel demand has not strengthened yet; they are only square billets from both Russia and Ukraine which are quite regularly sold abroad at present. Steel scrap imports into Turkey have declined sharply as the buyers seem to have purchased sufficient volumes of the material. Grain prices hold largely steady so far. Meanwhile, demand for Black Sea wheat has weakened; sales of maize have stabilized after an 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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