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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 17


The downward trend in Global CFI continues in late April. So, the index has showed another $0.27/t decrease over the week. Similar to past few weeks, the decline has been mainly caused by lower Azov Sea CFI ($3.5/t down). Moreover, the freight rates have sagged by $0.32/t in the BlSea, by $0.34/t in the Lower Baltic, by $0.06/t in the Gulf of Finland and by $0.12/t in the Far East. ISM Commodity Index has risen by 1.3 point in late April. However, the coaster owners can see just a few optimistic news in the commodity markets. Demand for steel scrap remains quite active in Turkey, but local buyers mainly import large consignments of the cargo from Europe and the USA. Prices for square billets sourced from the Black Sea have grown by $5-10/t, but buyers keep sitting on the fence, refraining from signing new deals. Ukrainian wheat prices have risen somewhat just due to scanty supply and global upward trends. Quotes for Black Sea maize have inched down amid sharpening competition with other suppliers despite the fact that demand for the commodity still looks quite healthy in major sales markets.

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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