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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 2


Global CFI has been decreasing for the fifth consecutive week. This week, the index has inched down by $0.11/t primarily due to ongoing decline in sea-river freight rates in the Azov Sea (another $2.06/t down). Moreover, the BlSea CFI has dropped by another $0.34/t. However, the decrease has been partly offset by slightly higher freight rates in the Lower Baltic ($0.12/t up), the Gulf of Finland ($0.15/t up) and the Far East ($0.62/t up). Prices for IFO and gas oil have generally stabilized. Global ISM Commodity Index has added 3.2 points this week due to growing export quotes for steel products and some types of fertilizers. Prices for grain and steel scrap have also inched up. The overall sentiment in the commodity markets cannot be called too inspiring for shipowners; meanwhile, nothing critical has happened. Demand for Ukrainian maize is strengthening gradually, while wheat exports are slow. Russian wheat is more popular cargo than the product sourced from Ukraine, but one should hardly expect a dramatic growth of export volumes of wheat from Russia. Demand for steel scrap remains weak in Turkey as local importers have already purchased sufficient volumes for February and do not hurry to sign new deals. The same applies to Black Sea steel products: almost all February volumes have already been sold out; nevertheless, the buyers are not very active in negotiating March contracts. The situation looks slightly better in northern Europe, where local buyers show stronger demand for flat products this week.

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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