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 fell in the week to Tuesday, May 29, 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 dropped Yuan 6.80/mt on the week to Yuan 44.80/mt ($6.98/mt) on 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 7.50/mt on the week to Yuan 40.30/mt while the rate from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels dropped Yuan 7.10/mt to Yuan 47.50/mt.
Relatively high coal stocks at the power plants in southern and eastern China have dampened the coal freight market, the port operator said.
Meanwhile, coal stocks at Qinhuangdao port were 5.295 million mt on Tuesday, up from 5.18 million mt on May 22, port figures showed.
