DAILY: China's seaborne thermal coal trading stagnates amid freight surges

China's seaborne thermal coal market remained sluggish on March 17, as the higher costs driven by surging freight costs continued dampened buying interest, market sources said.

The ongoing geopolitical tensions in the Middle East have driven up oil prices, which lifted bunker fuel costs and sharply increased freight rates. Freight rates have climbed to multi-year highs. Panamax vessel rates from Newcastle to South China rose to around $22-23/tonne, while Capesize rates on the same route reached