Coal Ships Head for Atlantic on Flood Disruption

Ships that haul coal and iron ore are heading for the Atlantic Ocean as flooding in Australia disrupts cargo volumes and activity in Pacific contracts, RS Platou Markets AS said.
The Australian state of Queensland’s worst floods in 50 years have inundated an area the size of France and Germany, shutting mines, cutting rail lines and destroying crops. Idemitsu Kosan Co., Japan’s third-biggest oil refiner by capacity, said today it closed its Ensham coal mine. Rio Tinto Group and BHP Billiton Ltd. are among mining companies that have declared force majeure, allowing them to miss deliveries.
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Source:Bloomberg