Freight market

摘要

Global CFI keeps rising steadily. The index has added $0.63/t in early October. Small-tonnage freight rates have grownin all major regions. So, the shortage of sea-river vessels has pushed the Azov Sea CFI up by $2.58/t. The BlSea CFI hasincreased by $0.53/t, the EMed CFI by $0.42/t, the WMed CFI by $0.31/t, the Caspian Sea CFI by $4.23/t. Trade is improvingin the north European market, as always at this time of year. The freight rates have increased by $1.54/t in Lower Baltic,by $1.86/t in the Gulf of Finland and by $1.04/t in the North Sea. The Far East CFI has added $0.16/t. The ISM CommodityIndex has dropped by another 0.6 points over the week. Demand for Ukrainian and Russian wheat and barley remains strong,driving the export quotes up further. Gradual recovery of demand for steel scrap in Turkey is also playing into the shipowners’hands (the corresponding prices have inched up). At the same time, the situation in the steel market remains uninspiring forowners of fleet. The export quotes for finished and semi-finished steel products have stepped down slightly, but the buyersstill consider the cargoes to be overpriced; therefore, trade is rather slack in the steel segment.