a good day?, page-8

Queensland's premier Anna Bligh says the floods will have a long term effect on the state's coal industry.

"We have three quarters of our coal fields unable to operate and unable to supply markets. There's likely to be a significant long term effect from that, not only nationally but internationally," she told ABC's 7.30 Report.

The Australian Coal Association says the nation supplies more than 30 countries across the world with its biggest markets being Japan and South Korea.

Australia also supplies coal to Taiwan, China, India and Europe.

Global Commodities Specialist, Macquaire Commodities Research is predicting increases in the prices of coal from $US246 dollars a tonne to $US300 dollars a tonne.

Based on the above, one would think Cont Coals SP will be moving north quickly over the next few days or weeks as the full effects of the floods are realised of which is predicted to have a long term effect on the international coal market demand and prices.

http://australianetworknews.com/stories/201101/3105644.htm?desktop