In a confirmed deal, a panamax vessel for Australian coal (5500 NAR) has been booked at $41/t, FoB Newcastle for December shipment to Kandla port. The freight for panamax vessel between Newcastle to Kandla port is at $16/t. A rise in South African coal prices has led to an improvement in demand for Australian coal as it is considered an alternative to South African coal, especially by the Indian cement manufacturers.
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