Bulk Norway is still loading, although it may depart later today. "Turnarround time" was significantly longer than 8 days, but the definition of such a time is unclear. There is an initial waiting period, then a period of a single loader, then two loaders, then back to one loader as it moves to the offshore anchorage. What really matters is the average departure rate, which given a 12 day rolling average loading rates (from barge movements) of around 21kT/day, one vessel per 8.7 days. Loading rates over the last few days have shown signs or increasing such that I we use a 7 day rolling average, then it works out at 1 vessel per 8.1 days.
MMI Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
