Freight rates for shipping coal from northern China's Qinhuangdao port to the other Chinese ports of Zhangjiagang, Shanghai and Guangzhou dropped significantly in the week to March 25, ending a five-week upward trend, Qinhuangdao Port said Wednesday.
Rates from Qinhuangdao to Zhangjiagang for 20,000-30,000 mt capacity vessels averaged Yuan 41.80/mt ($6.73/mt) in the week ended March 25, down Yuan 2.40/mt week on week, the report said.
The Qinhuangdao-Shanghai route for vessels with a capacity of 40,000-50,000 mt dropped Yuan 4.10/mt week on week to an average of Yuan 37.60/mt and the freight rate from Qinhuangdao to Guangzhou for 50,000-60,000 mt vessels dropped by Yuan 3.40/mt to Yuan 48.70/mt.
Meanwhile, coal stocks at Qinhuangdao port stood at 6.18 million mt as of March 26, down from 6.62 million mt a week ago, also down from 7.16 million mt on March 12, also down from 7.39 million mt on March 5, port figures show.
