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Newcastle coal futures rose 5% this morning. I was wondering...

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07/12/23

17:36

Post #: 71332736
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Newcastle coal futures rose 5% this morning. I was wondering why..

.. perhaps fears of supply disruption from the derailment?

Originally posted by Hopeful9: ↑

On Wednesday 6 December 2023, an AZJ coal train from Peabody Energy's Upper Hunter Valley Wilpinjong coal mine (on the Muswellbrook - Ulan busy branch line) bound for Newcastle derailed near Murrumbo Loop (a crossing location for one train to meet another on the otherwise single track railway).

Many of the wagons derailed. Some ended up on their side

There is apparently much damage to the track. I gather the loco crew are OK.

I lack further details but assume this will take many days to fix. Fortunately the majority of the Hunter Valley mines won't be adversely affected given the location, which is about 80 kilometres east of Muswellbrook. Had the derailment occurred on the Moree/Armidale main line south of Muswellbrook, different story.

However listed YAL's Moolarben mine will be affected, as will Glencore's Ulan Coal mine as these are further inland on the Ulan line.

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YAL Price at posting: $4.89 Sentiment: None Disclosure: Held
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Last $5.87		Change -0.165(2.74%)		Mkt cap ! $7.790B

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