In April, as the spring maintenance of the Daqin Railway continues to advance, the coal supply at northern ports is tight, downstream non-power industries show strong demand, terminal users actively stock up before the May Day holiday, the number of purchase and transportation pallets increases, coupled with the maintenance of high international oil prices, which lifts transportation costs, shipowners are eager to maintain prices, mainstream route freight rates generally rise, and the comprehensive index of coastal bulk goods rises significantly.

As of April 30th, the Comprehensive Freight Index for the Inland (Bulk) published by the Shanghai Shipping Exchange reported 1290.46 points, a 2.5% increase from the end of the previous month, with an average value of 1225.49 points for the month, a 10.1% increase compared to the previous month.

1, Coal transportation

On the demand side of the market, the profit of coal chemical industry continues to improve, the demand of non-electric industry is strong, which drives the pre-festival restocking purchase sentiment. The daily consumption of the eight coastal provinces is maintained at 1.911 million tons, and the coal reserve days are flat. On the coal price side, affected by the adjustment of the group's ex-factory price, the coal prices of some coal mines are slightly relaxed, but with the centralized price increase of nearly 30 coal mines in Ordos and Yulin, and the phenomenon of coal trucks queuing due to the end-of-month overhaul and the tightening of supply in some coal mines, the high-quality coal sources in the Bohai Rim ports are tight, and the traders are holding goods and the coal prices continue to explore. In terms of the trend of transport prices, affected by the weak demand in the off-season and the high port inventory, the previous transport prices are weak; but as the maintenance of the Qinhuangdao line continues, the inventory is eliminated, and the domestic coal demand is warming up, the downstream essential purchase and the pre-festival stockpiling and transportation increase, the trading atmosphere of the coastal market is improving, and the coastal coal transport prices are rising sharply.

As of April 30, the Coal Freight Index released by the Shanghai Shipping Exchange stood at 1374.35 points, marking a 3.9% increase from the end of the previous month. The average value for the month was 1279.80 points, up 12.6% compared to the previous month. On April 30, the China Coast Coal Freight Index (CBCFI) released by the Shanghai Shipping Exchange showed that the market freight rate for the route from Qinhuangdao Port to Zhangjiagang (40,000-50,000 dwt) was 54.7 RMB/ton, up 11.0 RMB/ton from the end of the previous month, with an average value of 44.6 RMB/ton for the month, up 8.6 RMB/ton compared to the previous month. For the route from Qinhuangdao Port to Guangzhou (60,000-70,000 dwt), the market freight rate was 71.7 RMB/ton, up 10.9 RMB/ton from the end of the previous month, with an average value of 62.0 RMB/ton for the month, up 10.7 RMB/ton compared to the previous month.

2, Metal ore transportation

In this month, after the end of the heating season, the resumption of blast furnace production is orderly promoted, the production enthusiasm of steel mills is relatively high, the output of ribbed steel continues to rebound, the terminal market enters the traditional peak season, the seasonal repair of demand is achieved, the inventory of ribbed steel continues to decline but the pace is slow, and the supply and demand maintain a weak balance pattern. On the supply side, the mainstream mine shipments of Australia and Brazil are rising simultaneously, and the short-term arrival of ports has declined due to the previous weather disturbances. In terms of the transportation market, the demand for iron ore is stable, the port operation is active, the cargo demand forms support, and the fuel cost supports the bottom, so the overall coastal metal ore shipping price fluctuates upward.

On April 30th, the metal ore freight rate index closed at 1170.26 points, down 1.4% from the end of the previous month, with a monthly average of 1150.55 points, up 8.5% compared to the previous month.

3, Food transportation

This month, on the supply side, the domestic main production areas are facing the end of the grassroots grain-selling season, the market grain supply has become tighter, supported by the cost of building inventory grain, the trading mood of the market is strong, the arrival volume of the deep processing enterprises continues to shrink, the grain users' inventory is sufficient, and the breeding industry's benefits are low, so the purchase is mainly based on demand, and the corn price fluctuates narrowly. In terms of the transportation market, the port collection volume in the north is low, the traders' willingness to realize the high value is strong, the delivery rhythm is accelerated, and the coastal grain transport price has risen sharply. On April 30, the grain cargo transport price index closed at 1450.3 points, up 9.4% from the end of the previous month, and the monthly average value was 1336.85 points, up 20.3% from the previous month.

4, Crude oil and refined oil transportation

This month, the international crude oil price has been fluctuating widely at a high level, and the domestic refined oil price has seen slight fluctuations. In terms of gasoline, after the Qingming Festival holiday, the demand for self-driving travel dropped significantly. Coupled with the high retail gasoline price suppressing commuting self-driving travel, gasoline consumption has continued to shrink. However, with the approaching of the May Day holiday, the travel expectations have heated up, and the retail and stockpiling demand is expected to pick up. In terms of diesel, after the temperature warmed up, the construction of engineering infrastructure and the operating rate of outdoor operations increased. Coupled with the demand for fertilizers and oil for spring plowing, the outlook for diesel is positive. But as spring plowing comes to an end, the demand from the mining, industrial and logistics sectors remains stable. The overall weak performance has led to the accumulation of diesel inventory. On the supply side, the operating rate of major refineries has continued to decline. At the end of the month, no local refineries have planned maintenance yet. However, with the recent increase in crude oil costs and poor refined oil shipments, the willingness of local refineries to increase production may weaken. The operating rate is mainly in a weak shock. The supply of gasoline and diesel resources is stable. The downstream players generally have a cautious attitude towards entering the market, and the coastal refined oil freight rate has fluctuated slightly.

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