After BHP Billiton had signed contracts to deliver coal to Japan for $200 per t in 1Q2010, the situation with sea coal freights did not change significantly
, Victor Belsky (VTB Capital, analyst) remarks. The shortage is being aggravated by bad weather in Queensland causing the restriction of trains speed or suspension of traffic. Sixty-two ships are awaiting uploading at Dalrymple Bay seaport, the average delay amounting to 25 to 35 days, stepping up problems for Asian consumers.
Hard coking coal shortage has already started impacting prices for semi-hard, mushy and pulverized coal grades, so that semi-hard coking coal (mined in Russia) production prices might reach $170–180 per t. Australian shortage might also boost Chinese demand for Russian coal.