China's coastal bulk freight index down in January

0 Comment(s)Print E-mail Xinhua, February 11, 2021
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BEIJING, Feb. 11 (Xinhua) -- China's coastal bulk freight market saw a decrease in overall demand in January, data from the Shanghai Shipping Exchange (SSE) showed.

On a monthly basis, the composite index for coastal bulk freight, which measures transportation costs in the coastal shipping market, fell 1.3 percent to 1,287.06 in January.

The reading, however, increased from an average of 1,039.13 in 2020, according to SSE data.

The sub-index for grain saw the biggest fall of 2.5 percent to 1,247.14, followed by that for coal and metal ore.

Bucking the downward trend, the sub-index for refined oil rose 2 percent, 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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