Price index for sea transport, Q4 2008

The aggregate index for sea and coastal water transport is heavily influenced by the sharp drop in ocean transport of dry bulk, and falls 11 per cent compared to third quarter 2008.

Decline in dry bulk freight continues to dominate ocean transport

The other sub indices for sea and coastal water transport shows an increase compared with the third quarter 2008. The largest increase is found for ocean transport of general cargo, containers, refrigerated cargo and vehicles, which rose 21 % from third to fourth quarter 2008. The sub indices for ocean transport of crude oil and oil products and ocean transport of chemical and gasses have had a positive growth throughout 2008.The aggregate index for ocean transport is however influenced by the strong decline in dry bulk freight, and falls 16 per cent from third quarter 2008.

Trend shift for domestic freight transport

Up to the second quarter of 2008, this sub index had a stable growth. As of the second quarter of 2008 it has faced a decline, and went down 3 percent from third to fourth quarter 2008.

The index for domestic freight transport has had a relatively stable, but weak growth since the first quarter of 2006, but is having a decline of 2 percent from the third to the fourth quarter.

While there has been a persistent decline in the prices faced by tugs and supply vessels, it has seen a positive change since the third quarter of 2008, and continued its rise to 15 percent in the fourth quarter of 2008.

Tables:

• Table 1 Sea and coastal water transport, price index 1. quarter 2006-4. quarter 2008, by NACE. 2006=100
• Table 2 Sea and coastal water transport, price index 1. quarter 2006-4. quarter 2008. Sub-indices on ocean transport. 2006=100