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 began to fall in the week to April 3, port operator Qinhuangdao Port Tuesday said.
The freight rate from Qinhuangdao to Zhangjiagang in eastern China’s Jiangsu province for 20,000-30,000 mt capacity vessels dropped by Yuan 3.60/mt week on week to Yuan 33.70/mt ($5.36/mt) on April 3, Qinhuangdao Port said.
The rate from Qinhuangdao to Shanghai in eastern China for vessels with a capacity of 40,000-50,000 mt dropped by Yuan 3.0/mt week on week to Yuan 25.40/mt on April 3.
The rate from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels slipped by Yuan 2.60/mt week on week to Yuan 34.50/mt on April 3.
Increased hydropower output in eastern and southern China has continued to dampen local coal-fired electricity demand, resulting in the downturn in coastal coal freights, the port operator said.
Meanwhile, coal stocks at Qinhuangdao port stood at 6.59 million mt on April 3, up from 6.38 million mt on March 27, port figures showed.