Shanghai Shipping Exchange: Crude Oil and Dry Bulk Freight Rates Rise Together, While Coastal Coal and Container Shipping Trends Diverge
智通财经2026/09/12 01:36- According to Shanghai Shipping Exchange, this week the global crude oil shipping market saw a sharp rise in VLCC (Very Large Crude Carrier) freight rates. China’s imported VLCC shipping market rates hit record highs repeatedly, with China’s imported crude oil composite index at 9,994.22 points on September 10, up 18.8% from September 3.
- This week, freight rates for the three major types of international dry bulk shipping vessels continued to rise, and the Far East dry bulk rental index maintained its upward trend.
- By ship type, the Capesize vessel market saw freight rates fluctuate at high levels. At the beginning of the week, demand was good and forward contracts rose, allowing rates to operate at high levels. Midweek alternation of rises and falls occurred. As the weekend approached, forward contracts fell back, creating downward pressure on freight rates.
- In the Panamax vessel market, Australia and Indonesia continued to release coal cargo, South American grain shipments remained at reasonable levels, and daily rentals continued to rise.
- For the Supramax vessel market, there was a slight increase in steel product export cargo from northern regions. Market capacity remained tight, and daily rentals rose slightly. On September 10, the Far East dry bulk rental index stood at 2,789.85 points, up 7.6% compared to September 3.
- In coastal coal transportation, coal prices remained high. Long-term supply contracts were steadily fulfilled. Downstream power plants showed strong resistance to high-priced coal and maintained only essential procurement, resulting in large vessel freight rates dropping significantly. Rates for smaller vessels and their demand remained stable. On September 11, China’s coastal bulk freight composite index stood at 1,123.77 points, down 2.3% from the previous period.
- For container shipping, demand for Chinese export containers remained steady. Long-haul routes showed divergent trends, while the composite index edged up. In August, exports increased by 25.0% year-on-year, and foreign trade maintained rapid growth, providing sustained long-term support for the container shipping market’s stable development. On September 11, the Shanghai containerized export freight index was 3,662.18 points, up 2.0% from the previous period.
- Oil transport and dry bulk shipping remained robust, buoyed by energy trade and geopolitical disruptions, while coastal coal shipping was dragged down by high coal prices suppressing demand. Container shipping made modest gains thanks to resilient foreign trade. Looking ahead, attention should be paid to the impact of Hormuz Strait navigation negotiations on oil shipping freight rates.
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