In October, the coastal transportation demand continued to be released, and spot transportation capacity was hard to find in the market, leading to a significant increase in the comprehensive index. On October 31, the Coastal (Bulk Cargo) Composite Freight Index released by the Shanghai Shipping Exchange closed at 1,152.50 points, an increase of 12.2% compared with the end of last month, with a monthly average of 1,113.34 points, a month - on - month increase of 10.6%.

1. Coal transportation

In the early part of the month, strong winds led to the closure of northern ports, affecting the turnover of ships and the attractiveness of the foreign trade market, which attracted ships that operate in both China and foreign trade, leading to a tightening of the coastal coal transportation market. Spot shipping capacity was hard to find, and coastal coal transportation prices rose significantly. In the later part of the month, after the centralized maintenance of the Qinhuangdao Line, the efficiency of cargo collection at the port increased somewhat, and combined with the price adjustment in the main production areas, the rise in the coal market at the port slowed down significantly, and the market's wait-and-see mood also heated up, leading to a slight decline in coastal coal transportation prices. However, as the month approached its end, with the expectation of peak season winter reserve shipments and the support of high purchase costs in the early period, shipowners still had a certain mentality to maintain prices, and coastal coal transportation prices rose slightly.

On October 31, the freight rate index of coal varieties released by the Shanghai Shipping Exchange closed at 1,193.40 points, an increase of 16.8% compared with the end of last month. The monthly average was 1,142.43 points, a month - on - month increase of 14.3%. On October 31, in the China Coastal Bulk Freight Index (CBCFI) for coal released by the Shanghai Shipping Exchange, the market freight rate of the Qinhuangdao - Zhangjiagang (40,000 - 50,000 dwt) route was 41.3 RMB/ton, an increase of 16.9 RMB/ton compared with the end of last month. The monthly average was 37.9 RMB/ton, a month - on - month increase of 12.2 RMB/ton. For the South China route, the market freight rate of the Qinhuangdao - Guangzhou (60,000 - 70,000 dwt) route was 49.2 RMB/ton, an increase of 19.2 RMB/ton compared with the end of last month. The monthly average was 46.0 RMB/ton, a month - on - month increase of 14.2 RMB/ton.

2, Metal ore transportation

This month, the overseas shipment volume of iron ore maintained the seasonal high, and the loose supply situation continued. However, the demand for restocking from steel mills effectively offset the pressure of short-term inventory growth. In addition, the multiple sailings caused by the weather in the north effectively affected the turnover of ships, and the spot shipping capacity was tight, which supported the shipowners' positive mood and the coastal iron ore shipping price trend rose significantly. On October 31st, the metal mineral cargo shipping price index closed at 1088.25 points, up 7.4% from the end of the previous month, and the monthly average value was 1063.65 points, up 5.6% from the previous month.

3, Food transportation

This month, the north-to-south grain transportation accelerated, the volume of shipments increased, the rotation and storage were launched, the corn shipments from the north and south ports were affected by the price increase and the closure of the northern ports, the turnover of available transport capacity was insufficient, which supported the positive mood of the shipowners, and the grain transport prices along the coast increased significantly. On October 31st, the grain cargo transport price index closed at 1234.77 points, up 33.8% from the end of the previous month, with an average value of 1128.50 points for the month, up 25.8% compared to the previous month.

4, Crude oil and refined oil transportation

China refined oil prices were stable this month as international crude oil prices rebounded from their lows. The rhythm of the transport market remained unchanged, and the spot market for refined oil transport in coastal areas was stable. On October 31, the spot index for refined oil cargo released by the Shanghai Shipping Exchange was 1318.14 points, down 0.9% from the end of the previous month; the spot index for crude oil cargo was 1610.13 points, down 7.0% from the end of the previous month.

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