China’s coastal coal freight rates mixed in week to Mar 27

Freight rates for shipping coal from northern China’s Qinhuangdao port to the other Chinese ports of Zhangjiagang, Shanghai and Guangzhou in eastern and southern China were mixed in the week to March 27, port operator Qinhuangdao Port said Tuesday.

The freight rate from Qinhuangdao to Zhangjiagang in eastern China’s Jiangsu province for 20,000-30,000 mt capacity vessels edged up Yuan 0.20/mt week on week to Yuan 37.30/mt ($5.96/mt) on March 27, Qinhuangdao Port said.

The rate from Qinhuangdao to Shanghai in eastern China for vessels with a capacity of 40,000-50,000 mt fell Yuan 2.20/mt week on week to Yuan 28.40/mt on March 27.

The rate from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels slipped Yuan 1.30/mt week on week to Yuan 37.10/mt on March 27.

Increased hydropower output in eastern and southern China has, to some extent, dampened domestic coal demand, which is believed to behind the lackluster coastal coal freight market, the port operator said.

Meanwhile, coal stocks at Qinhuangdao port stood at 6.38 million mt on March 27, down from 6.65 million mt on March 20, port figures showed.

Source: PLATTS