Transport and storage, price indices, Q2 2011

The total index for ocean transport was 95.4 in the 2nd quarter of 2011, which is 3.0 per cent lower than in the previous quarter and 24.0 per cent lower than the same quarter of 2010. The decrease is due to lower prices in the ocean transport of goods, especially dry bulk ocean freight where the decline was 60.6 per cent compared with the same quarter in 2010. Prices in the international carriage of oil also went down, by 27.1 per cent during the same period.

Prices in the ocean transport are influenced by the Norwegian NOK appreciation against the dollar from the 1st quarter of 2010 to the 2nd quarter of 2011. Most contracts in the maritime industry are in dollars. This means that although the price is the same with the strengthening of the krone, the price measured in Norwegian kroner will be lower.

Falling prices for air transport

The total index for passenger air transport increased by 2 per cent to 97.6 during the second quarter of 2011. Prices declined by 8.6 with respect to the same quarter a year earlier.

The increase is attributable mainly to an increase in leisure travel, which was 3.6 per cent higher, while business trips remained stable during the 2nd quarter of 2011. Both sub indices, namely leisure travel and business trips decline by 10.2 and 7.0 respectively in comparison to the same quarter last year.

Continued growth in freight transport by road

Prices for freight transport by road increased by 1.1 per cent from the 1st to the 2nd quarter of 2011. The price rise was mainly caused by higher prices in mixed goods / container goods , which grew by 2.4 per cent. The total index was 3.6 per cent higher during the 2nd quarter of 2011 relative to the same quarter in 2010.

Falling storage prices

Prices for storage services declined by 1.3 per cent from the 1st quarter to the 2nd quarter of 2011, mainly due to a sizable decline in prices for frozen / cool storage . The index was relatively stable with only a 0.1 per cent decline relative to the same quarter last year.

Slight increase for postal and courier activities and cargo handling

The index for postal and courier activities remained unaltered with respect to both the last quarter and the same quarter last year. The index level was 111.8 during the 2nd quarter of 2011, which is 0.1 per cent lower than the previous quarter and 0.4 per cent higher than the same quarter in 2010. The index includes two sub-indices, namely: postal activities under universal service obligation and other postal and courier services .

The price index for cargo handling remained stable with a moderate increase of 0.4 per cent during the 2nd quarter of 2011, while it went up by 4.8 per cent relative to the 2nd quarter of 2010.