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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 44


Global CFI has risen by another $0.19/t in early November primarily due to ongoing increase in sea-river rates in the Azov Sea ($1.67/t up) and the Caspian Sea ($4.5/t up). Moreover, the Gulf of Finland CFI has inched up by $0.49/t, the Lower Baltic CFI by $0.15/t, the North Sea CFI by $0.24/t, the Far East CFI by $0.4/t. Meanwhile, the rates have held steady in the Black and Mediterranean Seas. The ISM Commodity Index has dropped by 0.5 points over the week. Steel importers from MENA region show lack of interest in purchases; they do not hurry to sign new deals despite a price cutback. HRC buyers prefer to wait and see, pinning hopes for lower quotes. Meanwhile, steel scrap demand looks quite healthy in Turkey. This week, the buyers have been purchasing only large shipload lots of scrap sourced from the USA, Europe and Baltic countries. Ukrainian wheat grade 3 is the most popular cargo in the grain market, while demand for other types of grain is weak. Taking into account rather poor harvest of maize in Ukraine, local farmers are unwilling to trade, expecting the quotes to come up. However, even the current price level is not very comfortable for importers. Russian grain export market is strong and active, with milling wheat being the most popular cargo among foreign buyers. There is a buoyant demand for urea primarily in India and Latin America. However, this will hardly drive the situation in the coaster market.

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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