China's coastal bulk freight index down in June

SHANGHAI, July 24 (Xinhua) -- China's coastal bulk freight market saw a decline in overall demand in June, affected by high temperature and rainy weather in coastal areas, industry data showed.

On a monthly basis, the composite index for coastal bulk freight, which measures transportation costs in the coastal shipping market, dropped 4.6 percent to 1,048.91, according to the Shanghai Shipping Exchange (SSE).

The sub-index for coal saw the most notable decrease of 5.8 percent, followed by that for grain with a drop of 5.1 percent.

The sub-indices for refined oil and metal ore declined 4.3 percent and 2.5 percent, respectively, while that for crude oil remained flat from one month earlier, according to the exchange.

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.