Freight rates for shipping coal from northern Qinhuangdao port to Zhangjiagang, Shanghai and Guangzhou in eastern and southern China continued to fall in the week to Tuesday, port operator Qinhuangdao Port said Tuesday.
The freight rate from Qinhuangdao to Zhangjiagang in eastern Jiangsu province for 20,000-30,000 mt capacity vessels fell Yuan 1.50/mt week on week to Yuan 32.20/mt ($5.13/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 fell Yuan 1.10/mt week on week to Yuan 24.30/mt, and from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels fell Yuan 1.90/mt to Yuan 32.60/mt.
Increased hydropower output in eastern and southern China has continued to dampen coal purchasing interest from local power plants, resulting in the fall in coastal coal freight rates, the port operator said.
Meanwhile, coal stocks at Qinhuangdao port stood at 6.61 million mt Tuesday, edging up from 6.59 million mt on April 3, port data showed.
