Target $18.72, page-3449

Reuters 6.1.23 M. Xu

A Chinese electricity co., due to energy shortfalls there, has placed an order for thermal coal from Australia. It is unclear how this will effect coal prices.

https://www.reuters.com/business/energy/china-energy-places-order-import-australian-coal-sources-say-2023-01-06/

If the current energy shortages in China persist (as is likely- they have only recently lifted their very severe & widespread covid lockdowns/zero covid policies), then thermal coal, oil & gas prices can be expected to rise. China is the world's biggest fossil fuel importer, by far. This will benefit WHC- particularly if it can sell its superior 66000kcal into China..

I assume there will also be orders soon for Aust. met coal, as it also is, generally, high quality, or superior
There is no certainty the unofficial bans on our LNG, wheat, barley, wine, timber, major lobster orders etc. will also be lifted soon.