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 continued to climb up in the week to Tuesday, although at a slower pace than in previous seeks, 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 rose Yuan 1.90/mt week on week to Yuan 78.30/mt ($11.84/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 edged up Yuan 1.60/mt week on week to Yuan 70.0/mt, and from from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels rose Yuan 3.80/mt week on week to Yuan 78.20/mt.
Strong coal demand from downstream power plants during the winter peak season for electricity and coal consumption have sustained the coastal freight market, the port operator said, although adding it might see a slight correction over the next couple of weeks.
Meanwhile, coal stocks at Qinhuangdao port stood at 6.765 million mt Tuesday, up slightly from 6.68 million mt on December 12, port data showed.
