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Jan 4, 2011

Steel mills face higher costs after Australia coal mines flood

SYDNEY (Reuters) – Spot coking coal prices have risen around 10 percent in a month and look set to move sharply higher as Asia’s steel mills scour the globe for new suppliers to cover production lost to Australian floods.

More than two months of torrential rains in Australia’s Queensland state, the world’s largest exporter of coal for steel-making, have left collieries underwater, rail lines inoperable and coal ports running at a trickle — if at all.

Jan 4, 2011

Analysis: Steel mills face higher costs after Australia floods

SYDNEY (Reuters) – Spot coking coal prices have risen around 10 percent in a month and look set to move sharply higher as Asia’s steel mills scour the globe for new suppliers to cover production lost to Australian floods.

More than two months of torrential rains in Australia’s Queensland state, the world’s largest exporter of coal for steel-making, have left collieries underwater, rail lines inoperable and coal ports running at a trickle — if at all.

Jan 4, 2011

Analysis – Steel mills face higher costs after Australia coal

SYDNEY (Reuters) – Spot coking coal prices have risen around 10 percent in a month and look set to move sharply higher as Asia’s steel mills scour the globe for new suppliers to cover production lost to Australian floods.

More than two months of torrential rains in Australia’s Queensland state, the world’s largest exporter of coal for steel-making, have left collieries underwater, rail lines inoperable and coal ports running at a trickle — if at all.

Dec 31, 2010

Rains halt coal supply to Australia’s Gladstone export

PERTH (Reuters) – Torrential rains and flooding are set to cut rail supplies of coal for another week from inland mines to Australia’s third-largest coal export terminal Gladstone, forcing the port to run down already-depleted inventories.

“With the coal supply chain stopped due to the extensive flooding in the area, we are only able to load from our stockpiles,” Gladstone Port Corp Chief Executive Craig Walker said in a statement.

Dec 31, 2010

Rains halt coal supply to Australia’s Gladstone export terminal

PERTH, Dec 31 (Reuters) – Torrential rains and flooding
are set to cut rail supplies of coal for another week from
inland mines to Australia’s third-largest coal export terminal
Gladstone, forcing the port to run down already-depleted
inventories.

“With the coal supply chain stopped due to the extensive
flooding in the area, we are only able to load from our
stockpiles,” Gladstone Port Corp Chief Executive Craig Walker
said in a statement.

Dec 30, 2010

Anglo American declares force majeure on Australia

PERTH (Reuters) – Global miner Anglo American (AAL.L: Quote, Profile, Research) has declared force majeure on its coal mines in Australia’s Queensland state due to prolonged heavy rains, joining a long list of coal firms hit by weather-related problems.

“Adverse impacts due to flooding vary across our operations and include disruption to road access, production and rail transportation,” the company said on Thursday.

Dec 30, 2010

Anglo American declares force majeure on Australia coal mines

PERTH, Dec 30 (Reuters) – Global miner Anglo American
has declared force majeure on its coal mines in
Australia’s Queensland state due to prolonged heavy rains,
joining a long list of coal firms hit by weather-related
problems.

“Adverse impacts due to flooding vary across our
operations and include disruption to road access, production
and rail transportation,” the company said on Thursday.

Dec 29, 2010

Australia coal port, freight operations disrupted

PERTH, Dec 29 (Reuters) – Heavy rains and flooding in
Australia’s key coal-producing Queensland state have brought
parts of the coal infrastructure, including rail and ports, to
a standstill, operators said on Wednesday.

Dalrymple Bay Coal terminal and Gladstone Ports, two of
Australia’s biggest coal terminals, and rail firm QR National
, the nation’s top coal transporter, said they were
forced to cut back operations due to weather-related
disruptions.

Dec 22, 2010

Asia Coal-Australia thermal coal prices at 2010 high over $120/tonne

* Australian weather concerns continue to weigh

* Hunter Valley minimally impacted by rains

By Rebekah Kebede

PERTH, Dec 22(Reuters) – Australia’s thermal coal prices,
a benchmark for Asia, climbed to a 2010 high over $120 per
tonne this week, as rains in delay loadings and a cold snap in
Europe boosted demand.

Thermal coal on the globalCOAL Newcastle index rose to a
2010 high of $123.50 for the week to date on Monday, up from
$118.75 a week earlier.

Dec 22, 2010

Oil up near $90/bbl as crude, gasoline inventories drop

PERTH, Dec 22 (Reuters) – Oil prices rose on Wednesday to
hover just below $90 a barrel, supported by data showing a
drop in U.S. oil and gasoline inventories, a winter cold snap
in the United States and Europe amid thin trading volumes.

U.S. crude for February CLc1 climbed 10 cents to $89.92
a barrel by 0248 GMT. ICE Brent crude LCOc1 rose 17 cents to
$93.37.

    • About Rebekah

      "Based in Perth, Australia, I cover coal and gas in Asia. Before moving to Perth, I covered oil and fuels like gasoline and diesel in New York City, including the climb of oil prices to a record high near $150 per barrel."
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