Freight rates to move coal from northern China’s Qinhuangdao port to the other ports of Zhangjiagang, Shanghai and Guangzhou in eastern and southern China continued to rise in the week to November 28, though at a slower pace, port operator Qinhuangdao Port said Tuesday.
The freight rate for 20,000-30,000 mt capacity vessels, from Qinhuangdao to Zhangjiagang, rose by Yuan 3.90/mt week on week to Yuan 63.0/mt, or $9.54/mt, on November 28.
The rate on the Qinhuangdao-Shanghai route for vessels with a capacity of 40,000-50,000 mt rose by Yuan 3.40/mt week on week to Yuan 54.90/mt on November 28; while the rate for 50,000-60,000 mt capacity vessels on the Qinhuangdao-Guangzhou route moved up by Yuan 4/mt week on week to Yuan 64.90/mt on November 28.
Increased purchasing activity by downstream power plants amid the ongoing winter season has boosted the coastal freight market, the port operator said. Meanwhile, coal stocks at the Qinhuangdao port stood at 6.85 million mt on November 28, down from 7.10 million mt on November 21, according to the port’s data.
Source: Hellenic Shipping News.