The Wall Street Journal's Asia MoneyBeat reported that major coal miners operating in Australia — like Glencore Xstrata plc (LSE:GLEN) and Yancoal Australia Ltd. (ASX:YAL) — are eager to auction off port assets worth "tens of millions of dollars" that were hot assets only a year and a half ago. That indicates that they are not confident that coal prices will rebound in the near future.
Articles Tagged "coal exports"
China's "control coal" policy may not bode well for the United States, which plans to ship the fossil fuel to Asia via West Coast terminals.
Japan is joining Asia’s battle for coal resources. Who will benefit from the rush for new supply?
The US is pushing to block coal exports as Japan and India compete for supply.
Platts reported that coal exports for the month of February from Richards Bay surged by 29 percent.
Bloomberg reported that Indonesian coal output could rise by another 5.2 percent this year to meet growing demand.
Reuters reported that wet weather and flooding in Queensland have shut down some coal ports and the coal rail transport system, but mining operations in the area are not expected to be impacted.
Platts reported that Great Lakes coal shipments fell sharply in 2012 by 8.2 percent, apparently due to falling water levels and a lack of adequate dredging. As quoted in the market report:
Platts reported that coal exports from Alaska's only coal miner, Usibelli Mine Inc, will dip in 2012.
Reuters reported that coal-producing countries are likely to increase exports by 15 percent to meet burgeoning demand from India, according to Barclay analysts.