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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 16


Global CFI keeps tending down. The index has dropped by $0.52/t after April 15 due to ongoing decrease in the Azov Sea rates ($3.9/t down), as well as amid lower rates in the Gulf of Finland ($1.22/t down), the Lower Baltic ($1.4/t down), the North Sea ($0.51/t down) and the BlSea ($0.26/t down). The Far East CFI has sagged by another $0.35/t. It is worth noting that the current Global CFI has reached the lowest figure in the last six months. ISM Commodity Index continues to decrease slowly either (-2.3 points over the week), though the situation does not look very pessimistic for shipowners for the time being. Demand for Black Sea wheat, barley and maize remains pretty strong. Prices for barley and feed wheat have decreased. The exporters are making concessions as they are able to form only small shipload lots from the remaining stocks. Demand for steel scrap has strengthened in Turkey given another drop in export prices. Meanwhile, buying interest in finished and semi-finished steel products is low so far. The corresponding export quotes have fallen by $5-15/t again, and buyers expect them to drop further. Demand for coal remains weak in Europe and Turkey, which is quite typical for this time of year.

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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