According to industry portal China Coal Resource freight rate for coal vessels from Qinhuangdao to other coastal ports has kept declining for 3 consecutive weeks to approaching the lowest level this year.
CCR database showed that as of October 19 the freight for vessels of 20,000-30,000 DWT from Qinhuangdao to Shanghai port decreased 2.56% from a week ago to CNY 38 per tonne with a sharp dropping of CNY 10 per t or 22.83% since late September. Meanwhile, the freight for vessels of 40,000-50,000 DWT from Qinhuangdao to Guangzhou port was CNY 51 per tonne down 3.77% from one week prior.
It has decreased CNY 9 per tonne or 15% in the past three weeks. The sharp fall is mainly due to reduced vessels from downstream users as dampened by the low coal inventory at Qinhuangdao port and relatively high stock at power plants.