Price index for sea transport, Q1 2008

The prices in ocean transport went down since the previous quarter and the index is in this quarter at 126.4 points. Even so, the price level continues to be slightly above the value from the first quarter in 2007. The price growth in offshore transport services has stopped. The subindex on tugs and supply vessels is at 110.0 points the first quarter. This is an eight per cent drop compared with the fourth quarter of 2008, and the index is now at its lowest level since the first quarter of 2007.

Domestic freight transport prices continue to grow

The domestic freight transport index has increased significantly since the fourth quarter of 2007. The first quarter index is now 26 per cent above the value of the same quarter last year. There has also been a slight price increase in scheduled long distance inland transport in domestic waters. The price index for this industry is now three per cent above its level in first quarter of 2007.

Price fall in dry bulk freight

The prices for transport of dry bulk have dropped considerably since the fourth quarter. This subindex is at 188.1 in the first quarter, which is 32 points below the fourth quarter level. But, due to continuous price rise in 2007, dry bulk freight prices continue to be 28 per cent above their level in the first quarter of 2007.

The other subindices on ocean transport have strengthened since the fourth quarter of 2007. Because of a decline in 2007, the subindices are below the values from the first quarter of 2007. The ocean transport of crude oil and oil products index is 24 per cent down compared with the same quarter in 2007, while the subindices on ocean transport of chemicals and gases and ocean transport of other dry cargo have declined by 15 and 12 per cent respectively.

Tables:

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