China's weekly coastal bulk freight index down 1.6%

BEIJING - China's coastal bulk freight market has seen a decrease in general demand in the week ending May 29, according to the Shanghai Shipping Exchange (SSE).

The composite index for coastal bulk freight edged down 1.6 percent week on week to 1,055.6, the SSE said.

The coal sub-index went down 3.6 percent to 1,060.84, and the sub-index for oil products rose 4 percent to 1,478.27.

The SSE initiated the index in 2001 under the guidance of the Ministry of Transport to reflect the fluctuations of the Chinese coastal transport market.