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 soared in the week ended Tuesday, port operator Qinhuangdao Port said.
The freight rate from Qinhuangdao to Zhangjiagang in eastern China’s Jiangsu province for 20,000-30,000 mt capacity vessels jumped by Yuan 12.50 on the week to Yuan 41.90/mt ($6.22/mt) Tuesday, Qinhuangdao Port said.
The rate from Qinhuangdao to Shanghai in eastern China for vessels with a capacity of 40,000-50,000 mt rose by Yuan 11.60 to Yuan 37.80/mt. The rate from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels jumped by Yuan 13 to Yuan 42.60/mt.
Increased restocking by downstream power plants after the weeklong National Day holiday have boosted the coastal freight market, the port operator said.
Coal stocks at Qinhuangdao port were 3.48 million mt on Tuesday, down from 3.65 million mt a week earlier, port figures show.