Shanghai Shipping Exchange said heavy rain in southern China has kept
power-plant daily burn low and the peak electricity season has not arrived,
slowing downstream inventory drawdown. Falling coal prices have damped purchases
and traders are largely sidelined; northern anchorages have ample waiting
tonnage. On July 3 the exchange's China Coastal (bulk) Composite Freight Index
closed at 1,037.36, down 6.7% from the prior reading.