Coking Coal prices will again come under the influence of supply pressure—this time due to a heavy storm.
A violent storm—Cyclone Debbie—is heading towards the Queensland Coast and is expected to make landfall around mid-Tuesday, according to Bureau of Meteorology of Australia.
Generating sustained winds of around 175 km/hour, and wind gusts of up to 250 km/hour is expected to trigger heavy rainfall.
Rail operations and key coal ports have already been suspended in the region. Operations in some coal mines are also being shut.
Coal loading ports—Abbot Point, Dalrymple Bay and Hay Point—have already halted operations that will impact coal export supply.The ports were closed since 26Mar’17, and will reopen once the storm gets over.
Once the ports reopen, vessels might not be berthed in the order of arrival as the shippers will test and assess the cargo conditions to ensure the coal cargos are within the cargo buyers’ specifications, including moisture limits.
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