Freight rates for shipping coal from northern China's Qinhuangdao Port to the southern ports of Shanghai, Zhangjiagang and Guangzhou continued to move up over the week ended August 21, Qinhuangdao Port said Wednesday.
In the statement, Qinhuangdao Port attributed the rise -- for the second week in a row -- to an uptick in purchasing by power plants.
In the week ended August 21, freight rate for vessels with a capacity to carry 20,000-30,000 mt of coal from Qinhuangdao to Shanghai rose Yuan 1.60/mt week on week to an average of Yuan 34.60/mt ($5.44/mt).
The rate for vessels with a capacity to carry 20,000-30,000 mt of coal between Qinhuangdao and Zhangjiagang also edged up Yuan 1.70/mt to Yuan 37.0/mt. While the rate for vessels with a capacity to carry 50,000-60,000 mt of coal between Qinhuangdao and Guangzhou rose Yuan 1.40/mt week on week to Yuan 39.10/mt, the port said.