China’s coastal bulk freight index up in December 2023

SHANGHAI, Jan. 14 (Xinhua) — China’s coastal bulk freight index went up 11.9 percent month on month in December 2023, data from the Shanghai Shipping Exchange (SSE) showed.

Last month, the composite index for coastal bulk freight, which measures transportation costs in the coastal shipping market, stood at 1,135.21, according to the SSE.

During this period, the sub-index for coal logged the most notable month-on-month increase of 15.8 percent, followed by that for grain and metal ore.

The sub-index for crude oil edged up 0.5 percent from the previous month, while the figure for refined oil rose 2 percent monthly.

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. ■