Price index for sea transport, Q3 2008

Overall, prices in sea and coastal water transport have remained roughly unchanged compared to the second quarter of 2008. The total index is at 130.2 in 3. quarter 2008 against 130.3 in the 2. quarter. Compared to the same quarter in 2007 there is however a 4.3 per cent increase.

Decline in dry bulk freight dominates ocean transport

In spite off an increase in the sub indices for oil, chemicals, and other dry cargo, the index for ocean transport has a small decline of 0.2 per cent. This is due to the strong fall in the price for dry bulk for the third quarter of 2008. From the second quarter of 2006 through the fourth quarter of 2007, there has been a persistent growth in the price level on ocean transport of dry bulk cargo. The highest level was reached in the fourth quarter of 2007 with an index level of 220.1, followed by a decline in the first quarter of 2008.

Downward trend for tugs and supply broken

Since the second quarter of 2007 there has been a persistent decline in the prices faced by tugs and supply vessels. The trend was broken in the third quarter of 2008. Compared to the second quarter of 2008 prices went up by 1.5 per cent. The index for the third quarter of 2008 is 106.3 which is still 13 per cent lower than the same quarter in 2007.

Price fall in domestic freight

The prices for domestic freight transport had its top level the second quarter of 2008 corresponding to an index value of 149.5. The third quarter of 2008 the index fell with 4 percent compared to second quarter of 2008. Prices are still 14 percent higher than the third quarter of 2007.

Tables:

• Table 1 Sea and coastal water transport, price index 1. quarter 2006-3. quarter 2008, by NACE. 2006=100
• Table 2 Sea and coastal water transport, price index 1. quarter 2006-3. quarter 2008. Sub-indices on ocean transport. 2006=100