Government News
China's coastal bulk freight index down in November 2022-12-11
China's coastal bulk freight market saw a decline in overall demand in November, industry data showed.
On a monthly basis, the composite index for coastal bulk freight, which measures transportation costs in the coastal shipping market, dropped 6.4 percent to 1,119.09, according to the Shanghai Shipping Exchange (SSE).
The sub-index for coal saw the most notable decrease of 9.4 percent, followed by that for metal ore.
Bucking the trend of decline, the sub-index for refined oil rose 7.1 percent from October, while that for crude oil remained flat, according to the SSE.
In 2021, the composite index for coastal bulk freight averaged 1,299.35, SSE data showed.
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.
Source: Xinhua
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