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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 49


Global CFI has resumed growing after December 4. The index has added $0.19/t over the week due to significant increase in freight rates in the Gulf of Finland ($0.89/t up), the Lower Baltic ($0.7/t up) and the North Sea ($1.14/t up), as well as due to a slight growth in the Far East CFI ($0.18/t up). However, the increase in global CFI has been partly offset by lower freight rates in the Russian Azov Sea ($0.27/t down) and the Black Sea ($0.08/t down). The ISM Commodity Index has risen by almost 4 points over the week due to steadily growing prices for steel products, pig iron and scrap. Demand for square billets and rebar keeps strengthening in the MENA countries, feeding the shipowners’ hopes for healthy traffic of above cargoes after the New Year holidays. Demand for steel scrap keeps growing in Turkey. Local mills accept higher prices; cargoes are mainly purchased with Handy shipments from Europe and the US, small consignments are occasionally supplied from Bulgaria/Romania and Russia (but still more actively compared with such traffic in November). Demand for Black Sea grain has weakened slightly. Exports of wheat and maize can now be called moderate. Meanwhile, grain prices have not changed much in early December.

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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