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Coaster Freight Index: Comprehensive data on shortsea shipping

Global CFI // week 43


Global CFI has added $0.3/t in late October due to higher freight rates in the Azov-Black Sea basin and the Caspian Sea. Despite signs of decline last week, the Azov Sea CFI has grown by another $2.98/t; the BlSea CFI has risen by $0.67/t and the Caspian Sea CFI by $2.71/t. Trade is no longer increasing in northern Europe and the Mediterranean Sea, the freight rates have leveled out. The ISM Commodity Index has inched up by 1 point this week. Prospects of the commodity markets in late November - early December, as well as the way they may affect the freight market can hardly be called very inspiring for owners of small-tonnage fleet. At the same time, no negative trends are clearly seen. Demand for imported steel scrap has strengthened in Turkey, buyers are mainly purchasing cargoes from the US and Europe. The export quotes for Black Sea square billets and Turkish rebar have decreased slightly, but traders do not hurry to enter into new deals. The prices for Russian-origin HRC have stepped down in the Baltic region. Demand for Black Sea wheat has stabilized after a slight decline. Deals for the supply of maize of the future crop are increasingly negotiated in the market despite the fact that the harvesting campaign has not come to an end in Ukraine yet.

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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