Bad weather hampers February coal exports
HEAVY rains cut Australian coal exports in February, as infrastructure damage affected shipments largely bound for Asia, a Wall Street Journal report has revealed. Coal exports from Australia’s main coal terminals fell 11.5 per cent to 24.9 million tonnes, down from 28.2mt in January. Throughput at the ports was down 23 per cent compared with December 2012, when exports peaked at 32.4mt. In Queensland, shipments were disturbed after the tail-end of a tropical cyclone raged in the southeast and some rail links were closed due to flooding. Newcastle, the country’s biggest coal export port, recorded a 16.8 per cent fall to 10.6mt month-on-month in February and Gladstone’s port reported a 10.2 per cent drop to 3.6mt, the lowest volume recorded...