25 Jan 2009

NZ coal shipments halted, Solid Energy in talks

7:57 am on 25 January 2009

State-owned coal mining company Solid Energy is holding talks about disruptions to its exports to Asia.

The problem began when four shipments of high grade coking coal from the West Coast bound for unnamed Asian destinations were halted in December.

No reason was revealed for the move but it is understood understood the world economic decline brought a huge reduction in steel making, meaning less coal is needed for Asian blast furnaces.

Solid Energy is saying little about the incident, except that it has been talking with its customers and hopes to be able to make a further comment in about a week.