Price index for sea transport, Q4 2007

There was a price increase for ocean transport despite the weak US dollar. Many contracts in ocean transport are made in US dollar. The contracts are converted into Norwegian kroner before the price index is calculated. The ocean transport price index stood at 131.3 in the fourth quarter.

Continued price growth for dry bulk freight

There are large price differences within the industry. Prices for ocean transport of dry bulk cargo have increased by 83 per cent compared with the fourth quarter of 2006, while prices for ocean transport of other dry bulk cargo remained unchanged in the same period. The two other sub-indices in ocean transport saw a decrease compared with the fourth quarter of 2006. The index for transport of crude oil and oil products fell by 13 per cent, while the index for transport of chemicals and gases fell by 3 per cent.

The domestic freight price index increased marginally between the third and the fourth quarter. The index was at 126.6 points in the fourth quarter. This is a 17 per cent increase compared with the same quarter in 2006.

As usual, the index for scheduled long distance inland transport in coastal waters was relatively stable. The index for the fourth quarter was at 101.0 points. This is lower than the previous quarter, but 2 per cent above the value in the same quarter in 2006.

The prices for tugs and supply vessels continue to decrease. The sub-index for the sub-class industry was at 119.2 points in the fourth quarter. This is 12 per cent above the fourth quarter 2006 index, but a decrease of 8.5 points compared with the record high value in the second quarter of 2007.

Tables:

• Table 1 Sea and coastal water transport, price index 1. quarter 2006-4. quarter 2007, by NACE. 2006=100
• Table 2 Sea and coastal water transport, price index 1. quarter 2006-4. quarter 2007. Sub-indices on ocean transport. 2006=100