China’s coastal coal freights rise in week ended December 18

24-Dec-2018

Freight costs for shipping coal from northern China’s Qinhuangdao Port to the other Chinese ports of Zhangjiagang, Shanghai, and Guangzhou in eastern and southern China moved upwards in the week to December 18, after mixed rates seen the previous week, 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 rose by Yuan 2.10/mt on week to Yuan 40.70/mt ($5.90/mt) on December 18, Qinhuangdao Port said.

The freight rate from Qinhuangdao to Shanghai in eastern China for vessels with a carrying capacity of 40,000-50,000 mt rose Yuan 3.10/mt on week to Yuan 28.10/mt on December 18.

The freight rate from Qinhuangdao to Guangzhou in southern China’s Guangdong Province for 50,000-60,000 mt capacity vessels rose by Yuan 3.30/mt on week to Yuan 37.20/mt on December 18.

The recent cold spell in southern and eastern China boosted downstream coal demand at power plants and supported the coastal coal freight rates, the port operator said.

Meanwhile, coal stocks at Qinhuangdao Port stood at 6.305 million mt on December 18, up from 6.235 million mt on December 11, port figures showed.

Source: LOGISTICS MANAGEMENT