Freight rates for shipping coal from northern China's Qinhuangdao port to the ports of Zhangjiagang, Shanghai and Guangzhou in the east and south China moved upwards after the Lunar New Year holidays, Qinhuangdao Port operator Tuesday said.
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The freight rate from Qinhuangdao to Zhangjiagang in eastern China's Jiangsu province for 20,000-30,000 mt capacity vessels rose to Yuan 32.30/mt ($5.12/mt) on February 27, up Yuan 3.0/mt from Yuan 29.30/mt on February 13, Qinhuangdao Port said.
The rate from Qinhuangdao to Shanghai in eastern China for vessels with a capacity of 40,000-50,000 mt jumped to Yuan 27.20/mt on February 27, from Yuan 22/mt on February 13, reflecting a week on week increase of Yuan 5.20/mt.
The rate from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels rose by Yuan 4/mt to Yuan 34.30/mt on February 27, up from Yuan 30.30/mt on February 13.
The upturn in the coastal coal freight market comes on the back of the resumption in production across the country following the Lunar New Year holidays, the port operator said.
Meanwhile, coal stocks at Qinhuangdao port stood at 6.15 million mt on February 27, up from 6.07 million mt on February 13, port figures showed.