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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 19


The Global CFI has dropped by $0.72/t this week. This is more significant decrease compared with that seen in early May. Similar to April, the decrease has been mainly caused by another $3.3/t reduction in sea-river rates. Moreover, the BlSea CFI has fallen by $1.03/t, the EMed CFI by $0.6/t and the WMed CFI by $0.54/t. Slackened trade has pushed the rates down in the North European region (the Gulf of Finland CFI has decreased by $1.86/t, the Lower Baltic CFI by $1/t, the North Sea CFI by $0.41/t). The ISM Commodity Index has showed far less considerable decline; it has dropped by just 0.6 points. ISM sources note slight cuts in Ukrainian grain prices. The period of active export is coming to an end, and the suppliers have to make concessions, particularly amid the pricing for wheat and maize of the new crop. Quotes for Russian grain have not changed much. Traders are increasingly negotiating contracts for the supply of grain of the future harvest. Demand for Black Sea square billets remains modest in the MENA countries. Buying interest in steel scrap has weakened slightly in Turkey, while prices hold largely steady. Deals for the supply of Russian, Romanian and Bulgarian scrap to Turkey are few. Quotes for thermal coal have inched up in Europe and Turkey. As a result, demand for the fuel has dropped almost to a minimum.

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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