China's coastal bulk freight index up in March

SHANGHAI, April 19 (Xinhua) -- China's coastal bulk freight market saw an expansion in March, data from the Shanghai Shipping Exchange (SSE) shows.

On a monthly basis, the composite index for coastal bulk freight, which measures transportation costs in the coastal shipping market, rose 7.6 percent to 1,097.57, according to the SSE.

In the period, the sub-index for coal logged the most notable increase of 11.9 percent, followed by that for metal ore and grain, which climbed 4 percent and 0.8 percent, respectively, according to the data.

The sub-index for refined oil dropped 0.6 percent over the previous month, while that for crude oil remained flat month on month.

In 2022, the composite index for coastal bulk freight averaged 1,124.52, SSE data shows.

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.