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China’s coastal bulk freight index down in February

China’s coastal bulk freight market saw a decline in overall demand in February, 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, dropped 7 percent to 1,047.41.

The sub-index for coal saw the most notable decrease of 8.8 percent, followed by that for grain and metal ore.

The sub-index for refined oil fell 1.9 percent, while that for crude oil edged up 0.5 percent, 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.
Source: Xinhua

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