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Qinhuangdao Port coastal coal freights down, ending 5-week upward trend

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.

Source: Platts