Freight rates for shipping coal from northern China’s Qinhuangdao port to the ports of Zhangjiagang, Shanghai and Guangzhou in eastern and southern China took a downturn in the week to July 5, 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 slipped by Yuan 0.30/mt week on week to Yuan 28.30/mt ($4.24/mt) on July 5, 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 0.40/mt over the week to Yuan 24.10/mt; the rate from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels dropped Yuan 0.60/mt to Yuan 28.0/mt.
Recent rainy weather has dampened downstream coal demand in southern and eastern China, hence the slight downturn in coastal coal freights, a Shandong-based trader said.
Coal stocks at Qinhuangdao port stood at 3.41 million mt on July 5, down slightly from 3.46 million mt a week ago, port figures show.