Market and product

Freight rates for shipping coal from northern China's Qinhuangdao port to the ports of Zhangjiagang, Shanghai and Guangzhou in eastern and southern China continued to drop in the week ended to December 13, port operator Qinhuangdao Port said Tuesday.

The freight rate from Qinhuangdao to Zhangjiagang in eastern China's Jiangsu province for 20,000-30,000 mt capacity vessels fell by Yuan 4.60/mt on the week to Yuan 42.80/mt ($6.20/mt) as of December 13, Qinhuangdao Port said.

The rate from Qinhuangdao to Shanghai in eastern China for vessels with a capacity of 40,000-50,000 mt dropped by Yuan 4.50/mt to Yuan 30.70/mt.

The rate from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels fell by Yuan 7.50/mt to Yuan 44.50/mt.

Decreased purchasing activity by power generators was the reason for the downturn in coastal freights, the report said.

Meanwhile, coal stocks at Qinhuangdao port stood at 6.68 million mt on December 13, down from 7.03 million mt on December 6, port figures show. - Platts