The Shanghai Shipping Exchange reported that China’s coastal bulk freight market has seen a decrease in general demand, analysing the index of coastal bulk freight, coal sub-index, metal ore sub-index, and refined oil products index, according to Xinhua.
Specifically:
- The composite index for coastal bulk freight fell 0.2% to 1,099.09 week on week.
- The coal sub-index decreased by 0.7% to 1,124.72 last week.
- The sub-index for metal ore rose 0.1% to 1,015.43, and that for grain shrank by 0.5% to 993.83.
- The refined oil products index surged 2.1% to 1,536.09, while crude oil index remained flat at 1,557.48.
- China’s coastal bulk freight market has seen a slight decline in general demand the week ending Friday.
The SSE initiated the index in 2001 under the guidance of the Ministry of Transport to reflect the fluctuation of the Chinese coastal transport market.
See also
- Drewry: High iron ore inventories at China, economic uncertainty threaten Capesizes
- Dry bulk shipping industry is still on the way to recovery
