Bugggsy,According to this mornings Courier Mail Xuzhou Mining...

Bugggsy,
According to this mornings Courier Mail Xuzhou Mining have just taken up tenements in Qld. Seems like the Chinese are looking to invest. Word has it that Shandong is also looking to purchase and join Shenua and a host of other SOE's pursuing new and old operations.
Wood MacKenzie are still expecting a huge global shortfall in 2015. Maybe the Chinese are manipulating the short term market in order to purchase Aussie assets at rock bottom prices.
I predict a significant turnaround in next few months although I see the price of thermal coal has already jumped 10% since last October. BND are on track for 2015 with port and rail secured.
My opinion only.