Analysts at ANZ noted that the damage caused by Cyclone Debbie to Australia’s ports and rail infrastructure is becoming clearer.

Key Quotes:

"The Goonyella system, where over 50% of Australia’s coking coal is exported through could be offline for five weeks. There is also damage to Newlands system, which feeds into Abbot Point coal terminal. That could be out for 2-3 weeks and impact 12% of Australia’s coking coal exports. The Blackwater system, which handles 35% of all coking coal exports is closed but expected to open week’s end. The closures will impact export volumes and earnings, mainly in Q2, although the extent will depend on shipped inventories."