Freight rates for shipping coal from northern China's Qinhuangdao port to the other Chinese ports of Zhangjiagang, Shanghai and Guangzhou in eastern and southern China began to rise in the week to Tuesday, port operator Qinhuangdao Port said.
The freight rate from Qinhuangdao to Zhangjiagang in eastern China's Jiangsu province for 20,000-30,000 mt capacity vessels rose by Yuan 0.70/mt on the week to Yuan 29.50/mt ($4.28/mt) on Tuesday, Qinhuangdao Port said.
The rate from Qinhuangdao to Shanghai in eastern China for vessels with a capacity of 40,000-50,000 mt edged up Yuan 0.90/mt on the week to Yuan 22.60/mt. The rate from Qinhuangdao to Guangzhou in southern China for 50,000-60,000 mt capacity vessels rose by Yuan 1.40/mt to Yuan 32.60/mt.
A recovery in downstream coal demand after the spring festival holidays, coupled with news that China has stopped importing coal from North Korea since Sunday, has boosted the coastal coal freight market, the report said.
Meanwhile, coal stocks at Qinhuangdao port were 4.41 million mt on Tuesday, up from 4.715 million mt on February 14, port figures showed.
