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Print[Ferro-Alloys.com] Freight rates for shipping coal from northern China's Qinhuangdao Port to the southern ports of Shanghai, Zhangjiagang and Guangzhou were flat to lower for the third week in a row, a weekly report released Thursday by Qinhuangdao Port showed.
Qinhuangdao Port attributed the latest fall to an oversupply of vessels in the coastal shipping market after a recent upturn in purchasing activity by power plants attracted more vessels to the routes than required.
Freight rates for vessels with the capacity to carry 20,000-30,000 mt of coal from Qinhuangdao to Zhangjiagang remained flat week on week at an average of Yuan 37.30/mt ($5.92/mt) in the week ended Tuesday.
The rate for vessels with the capacity to carry 40,000-50,000 mt of coal from Qinhuangdao to Shanghai fell RMB0.1 to an average RMB29.9/mt, while the rate for vessels with the capacity to carry 50,000-60,000 mt between Qinhuangdao and Guangzhou was down RMB0.70 week on week at RMB40.10/mt.
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