Freight rates for shipping coal from northern China’s Qinhuangdao port to the ports of Zhangjiagang, Shanghai and Guangzhou in the east and south fell in the week ended November 22, the port operator said.
The freight rate from Qinhuangdao to Zhangjiagang in eastern China’s Jiangsu province for 20,000-30,000 mt vessels dropped to Yuan 48/mt ($6.96/mt) on November 22, down Yuan 6.80/mt week on week, the Qinhuangdao port operator said.
The rate from Qinhuangdao to Shanghai for vessels with a capacity of 40,000-50,000 mt fell by Yuan 11.10/mt week on week to Yuan 36.50/mt.
The rate from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt vessels dropped Yuan 6.60/mt week on week to Yuan 50.60/mt on November 22.
Less coal buying activity by downstream power generators was the reason for the fall in coastal coal freight, the report said.
Meanwhile, coal stocks at Qinhuangdao port stood at 6.58 million mt on November 22, up from 6.08 million mt on November 15, port figures showed.
