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Published:
This is an archived release.
Strong price growth in ocean transport
Statistics Norway publishes for the first time a price index for the sea and coastal water transport industry. The index for ocean transport stood at 120.2 in the second quarter of 2007, an increase of 34 per cent from the weak second quarter of 2006. The index figure is compared with the annual average for 2006.
The price index rose by 16.8 points to 124.0 from the fourth quarter of 2006 to the first quarter of 2007. The strongest growth in prices within ocean transport came in the dry bulk cargo market, with an index growth of 92 per cent from the second quarter of 2006 to the second quarter of 2007.
The total index for the sea and coastal water transport industry stood at 120.7 in the second quarter of 2007, a slight decline from 121.7 in the first quarter. The decline was entirely due to the 3.8 point drop in prices for ocean transport. Ocean transport has a weight of almost 85 per cent of the total index for sea and coastal water transport. The other industries experienced growth in prices in the same period.
Price increase in domestic freight transport
The index for tug and supply vessels stood at 127.7 in the second quarter of 2007, an increase of 27 per cent compared with the same quarter in 2006. The index stood at 90.5 in the first quarter of 2006.
Domestic freight transport prices also increased from the first to the second quarter. The index stood at 116.0 in the second quarter, up 17 per cent from the second quarter of 2006. The index fell by 2.2 per cent in the fourth quarter of 2006, the only quarter in the index period with falling prices. In the first quarter of 2007, prices increased by 34 per cent compared to the first quarter of 2006.
Stable for coastal transport
The index for scheduled long distance inland transport in coastal waters was stable in the period. The industry is dominated by car ferries, which have few price changes during the year. The variations are mainly due to Norwegian Coastal Voyage (Hurtigruten) rates, which vary depending on the season. In the second quarter of 2007, the index stood at 103.1. This is a 2 per cent increase from the same quarter in 2006.
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The ocean transport industry includes freight of cargo and passenger transport between Norway and neighbouring countries. The contracts are often in foreign currencies such as US dollar, British pound and Euro while the price index is measured in Norwegian kroner. This means that some of the price variations are caused by currency fluctuations. |
Tables:
The statistics is published with Producer price indices for services.
Contact
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Statistics Norway's Information Centre
E-mail: informasjon@ssb.no
tel.: (+47) 21 09 46 42