Freight rates for shipping coal from northern China's Qinhuangdao port to the ports of Zhangjiagang, Shanghai and Guangzhou in the east and south continued to fall in the week to June 26, Qinhuangdao Port operator said on Tuesday.
The freight rate from Qinhuangdao to Zhangjiagang in eastern China's Jiangsu province for 20,000-30,000 mt vessels stood at Yuan 37.50/mt ($5.72/mt) on Tuesday, down Yuan 4.20/mt from June 12, said Qinhuangdao Port, which did not update coastal coal freight last week due to a public holiday.
The rate from Qinhuangdao to Shanghai for vessels with a capacity of 40,000-50,000 mt stood at Yuan 32.80/mt on June 26, down Yuan 2.50/mt from June 12.
The rate from Qinhuangdao to Guangzhou for 50,000-60,000 mt vessels stood at Yuan 45.90/mt on June 26, down Yuan 4.50/mt from June 12.
Higher in-house coal stocks have abated downstream power plants' demand, which has in turn resulted in a drop in coastal freight, the port operator said.
Meanwhile, coal stocks at Qinhuangdao port were 6.335 million mt on Tuesday, up from 6.195 million mt on June 19, but down from 6.56 million mt on June 12, port data showed.
