HomeProduct Complimentary download China coastal coal freight rates continue to fall after holidays

China coastal coal freight rates continue to fall after holidays

Keyword:
Publish time: 2nd March, 2015      Source: www.cnchemicals.com
Information collection and data processing:  CCM     For more information, please contact us
Freight rates for vessels shipping coal from northern China ports continued to slide over the past ten days, reaching historic lows, as no visible improvement was observed in downstream demand after the Lunar New Year holidays.The shipping rate for vessels of 50,000-60,000 DWT from Qinhuangdao to Guangzhou port stood at 24.9 yuan/t on February 27, unchanged on day and falling 0.1 yuan/t from the level on February 17, the last day before the week-long Lunar New Year holidays, showed data from the Shanghai Shipping Exchange.The freight rate for smaller vessels of 15,000-20,000 DWT from Qinhuangdao to Ningbo port in eastern China’s Zhejiang province was 25.1 yuan/t, down 0.2 yuan/t on day and falling 0.2 yuan/t from ten days ago.The rate for 30,000-40,000 DWT vessels to ship coal from Huanghua to Shanghai port remained the same on day and from ten days before to 21.7 yuan/t on the same day.The tick-down was mainly attributed to weak shipping demand from coastal utilities which were slow to restock as many factories haven’t come back online yet after the holidays.Combined coal stocks of the six key coastal power companies stood at a relatively high level of 13.13 million tonnes on February 25, enough to cover 37 days of consumption; daily coal consumption of these companies stood at 0.35 million tonnes on the same day, ticking down 0.8% from the level on February 17.Coal stocks at top transfer port of Qinhuangdao stood at 7.85 million tonnes on February 27, down 6.4% on week, showed data from Qinhuangdao Port Group.