Coal’s fire fading
Coal is no doubt doing it tough.
Topping off last week was Friday’s front page news that China has cracked down on Australian coal imports.
Dalian Port Group in China's north is believed to have completely banned imports from five harbours, while other Chinese ports have pushed shipments back by 45 days.
And now there’s confirmation that Australian coal imports to China, which were the country’s largest source of coal, will be capped at a total of 12 million tonnes across all sources for 2019.
Rumours are that the move is in retaliation to Australia banning Chinese telco Huawei from bidding for 5G telecommunications contract along with a breakdown in the nations’ relationship.
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