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18:33
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Originally posted by hightrax:
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With lower coal prices, the headwinds are even stronger, but I did notice something in the last week or so. A site called Marine Traffic Global shows ship movements all over the world,in detail. The number of bulk ships waiting off Hay Point up to a few weeks ago was around 44. For some reason Abbott Point never seems to have much of a queue. The Hay point/DBCT queue reduced to about 36 a week ago and about 25 late last week.
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The action at the current moment looks directed by the Australian coking coal futures indicator price which has dropped suddenly to US$ 179 about 5% in one day. Energy coal is steady.
(20min delay)