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04-09-2017, 01:15 AM #1
After Debbie, China seeks US coal
After Debbie, China seeks US coal
Source:Reuters Published: 2017/4/4 22:38:40
China, the world's biggest coking coal importer, is covering Australian supply disruptions after Cyclone Debbie by turning to the US.
Debbie, which hit Australia's state of Queensland last week, caused the evacuation of several mines and damaged coal trains supplying export terminals, triggering two miners - Yancoal Australia and QCoal - to declare force majeure on deliveries. With other miners like BHP Billiton and Glencore also affected, more disruptions may follow.
Force majeure is a commercial term that means a buyer or seller cannot fulfill their obligations because of outside forces. It is typically invoked after natural disasters or accidents.
Australia, the world's biggest coking coal exporter, is also China's largest supplier, and steel makers in the nation are seeking alternative supplies.
"The Chinese are fixing cargoes from the United States in order to replace the shortfall from Australia," one coal trader with knowledge of the matter said, speaking on the condition of anonymity as he was not allowed to talk about commercial deals.
"More will make its way from the US to China very soon," he added.
It was not immediately clear which US miners are providing the supplies, but Thomson Reuters Eikon data shows that China has already imported more than 500,000 tons of US coking coal in 2017, ending a 2-year stretch without shipments.
China will require more coal, as the Australian outages far outstrip what is immediately available from the US.
"The minimum impact over the coming weeks we would expect would be in the region of 14 million tons of coal (11.5 million metallurgical and 2.5 million tons thermal)," said Rodrigo Echeverri, head of energy coal analysis at commodity trading house Noble Group.
Shipping data in Eikon shows that about 70 ships are waiting to load coal off Queensland ports. The outages caused Australian coking coal futures on the Singapore Exchange on Monday to spike by more than 25 percent to $197 per ton.
http://www.globaltimes.cn/content/1040784.shtml
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04-10-2017, 04:12 PM #2
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If it didn't have to destroy so much of the environment to get it out of the ground, I'd be happy to send it all to China.
Although, what China burns, we eat, drink and breathe - just not as concentrated or as quickly as if burned here.
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04-10-2017, 04:15 PM #3
They don't use scrubbers and burn it clean either. We should ask that they do that. They want to be big climate change heroes, they can install scrubbers on their coal-fired facilities and clean it. That's what we're supposed to do here, at least that's our law anyway.
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04-10-2017, 07:01 PM #4
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04-10-2017, 10:56 PM #5
We're on nuclear power plants here where I live, so we don't have that problem. Our power is much more expensive but our skies are pretty clear.
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