China's coastal bulk freight index down in January

0 Comment(s)Print E-mail Xinhua, February 15, 2020
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BEIJING, Feb. 15 (Xinhua) -- China's coastal bulk freight market saw a decrease in overall demand in January, data from the Shanghai Shipping Exchange (SSE) showed.

Month-on-month, the composite index for coastal bulk freight, which measures transportation costs in the coastal shipping market, fell 13.2 percent to 1,038.24 in January.

The reading was down from an average of 1,059.98 in 2019, according to SSE data.

The sub-index for grain saw the biggest drop of 29.1 percent to 759.7, followed by a 17.4-percent fall for coal and a 10.1-percent slump for metal ore products.

Bucking the downward trend, the sub-index for refined oil rose 3.7 percent to 1,873.92, while the index for crude oil remained unchanged in January, according to the exchange.

The SSE initiated the index in 2001 under the guidance of the Ministry of Transport to fully reflect fluctuations in the Chinese coastal transport market. Enditem

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