In case of emergency break glass for Recessionberg

Dalian port's indefinite ban on coal imports from Australia comes as major ports elsewhere in China prolong clearing times for Australian coal to at least 40 days

Dalian port's indefinite ban on coal imports from Australia comes as major ports elsewhere in China prolong clearing times for Australian coal to at least 40 days

Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, the sources said, as the two sides push for an agreement by March 1.

The indefinite coal restrictions at Dalian started this month and are part of an overall plan to cap imports into the customs region this year, Reuters reported, citing an unnamed Dalian Port Group official.

Australian Trade Minister, Simon Birmingham, has called the reports "unconfirmed and unsourced", and says the Australian Ambassador to Beijing is inquiring with authorities about the decision to clarify the veracity of the reports.

A Chinese media steel industry website says that China will obtain most of its coal imports in 2019 from Russian Federation and Indonesia, reports Sydney Morning Herald.

"If that's all we're talking about, the blocking of a couple of months of coal exports, then that's not going to derail the Australian economy", he told a parliamentary hearing in Sydney on Friday.

The ban on top supplier Australia comes as major ports elsewhere in China prolong clearing times for Australian coal to at least 40 days.

Treasurer Josh Frydenberg has cautioned people against jumping to conclusions as Australian officials continue talks with their Chinese counterparts to confirm reports of a reported ban on Australian coal imports.

News of the ban sent the Australian dollar tumbling in late afternoon trade.

To oversee the end of Australian exceptionalism would be unforgivable.

Spot Australian coking coal at northern Chinese port Jingtang is 200 yuan ($29.85) cheaper per tonne than domestic prices, according to data tracked by Orient Futures.

He said he would work with the coal industry on matters of market access.

Australia is the world's number one exporter of coal, while China remains its biggest trade partner, accounting for almost 30 percent of Australian sales overseas.

EPL: Zidane Gives Chelsea Conditions To Succeed Sarri
The French legend is keen to talk seriously about taking over as boss and turn the Blues into contenders again at home and overseas with a £200m transfer kitty.

Beijing has been trying to restrict imports of coal more generally to support domestic prices.

Currently, the ban is centred on coking coal used in steel making, but the fear is it will spread to other ports and to thermal coal used in power generation. Prices of thermal coal are approximately the same.

He noted both the value and volume of our coal exports to China were larger in the final quarter of 2018 compared with the previous year.

"I do expect the Government to update the nation very quickly", he said.

Mr Fletcher said Australia was aware that other countries were also experiencing "some difficulties" with their exports, but did not specify which ones.

"So, yes, we can see these occasional interruptions to the smooth flow but that doesn't necessarily translate to some of the consequences that aspects of the media might seek to leap to".

"This seems to be an escalation of what is already happening between China and Australia".

Reportedly, ships importing coal into China in recent weeks have faced uncommonly long delays in dealings with Chinese port customs. "One has to interpret it has having to do with the icy political relationship between Australia and China".

The news follows the Australian government's decision this month to cancel the visa of prominent Chinese businessman Huang Xiangmo andthe banning in August a year ago of Chinese telecoms giant Huawei Technologies from supplying equipment to Australia's 5G broadband network.

In the currency market, an index that tracks the dollar against a basket of currencies rose almost 0.2 percent, while the Aussie dollar was down 1 percent at $0.7092.

"The two-way trading relationship between Australia and China is important and strong, and it is in Australia's long-term national interests", he said.

Recommended News

  • Bill Weld: Republicans in Washington Want to Have No Presidential Election

    Bill Weld: Republicans in Washington Want to Have No Presidential Election

    Weld ran as the Libertarian Party's vice presidential candidate in 2016 and returned to the Republican Party this year. I mean, once you've seen Lady Ga Ga, can you go back to Streisand? I'm going to show you a deal.
    HTC VIVE Focus Plus revealed with upgraded controllers

    HTC VIVE Focus Plus revealed with upgraded controllers

    HTC still isn't aiming the new standalone device at consumers, exclusively focusing on the enterprise market with this redesign. As you might have already guessed from the name, this isn't so much a successor headset as it is a beefed up VIVE Focus.
    Mercedes SLC Final Edition Debuts As Roadster's Colorful Finale

    Mercedes SLC Final Edition Debuts As Roadster's Colorful Finale

    The Mercedes-Benz SLC started life as the SLK before the brand's nomenclature changed the moniker in 2016. The 2020 Mercedes- Benz and Mercedes-AMG SLC Final Edition will arrive in US dealerships in 2020.
  • Washington Capitals acquire forward Carl Hagelin from Kings

    Hagelin will join his new teammates in Buffalo tomorrow and will make his Caps debut on Saturday afternoon against the Sabres. The Kings will retain 50 percent of Hagelin's remaining salary, according to the Washington Post's Isabelle Khurshudyan .
    Inside The Mark Hotel, New York, where Meghan Markle celebrated her babymoon

    Inside The Mark Hotel, New York, where Meghan Markle celebrated her babymoon

    The couple, who could not attend the ceremony in London, accepted the award for best worldwide group via video message. Meghan is set to visit Morocco with her husband, Prince Harry for a royal tour starting on the 23rd.
    World's largest bee finally found after going missing for 38 years

    World's largest bee finally found after going missing for 38 years

    In just journals, Wallace described the species as "a large, black wasp-like insect, with vast jaws like a stag beetle". Commonly known as Wallace's Giant Bee , it's approximately ten times larger than a European honey bee .
  • North Carolina board orders new election in disputed congressional race

    North Carolina board orders new election in disputed congressional race

    The State Board of Elections has not certified unofficial results that showed Harris narrowly beating McCready by 905 votes. Harris' comments came a day after his son took the stand in emotional testimony that left his father in tears.
    No. 24 Maryland tops No. 21 Iowa in final seconds

    No. 24 Maryland tops No. 21 Iowa in final seconds

    Gustafson and the No. 10/10 Hawkeyes travel to Bloomington, Indiana , for a contest against the Hoosiers on Thursday. The Hawkeyes were led by Bohannon, who had 14 points, and Isaiah Moss, who added 12 points and 10 rebounds.
    'The Twilight Zone' Trailer: Revival From Jordan Peele

    'The Twilight Zone' Trailer: Revival From Jordan Peele

    The CBS All Access series will be a modern reimagining of the original, which premiered in 1959 and continued through 1964. Jordan Peele is taking us from the sunken place of Get Out to the twisted and wild worlds of The Twilight Zone .
  • Microsoft launches new Office app for Windows 10

    Microsoft launches new Office app for Windows 10

    The app is created to bring the Office.com experience onto your PC and it's PWA, so it also works offline like a native app. Now you can access the entire range of office apps whether or not it has been installed on your device.
    Jim Boeheim Hit, Killed Man With Car After Last Night’s Syracuse Game

    Jim Boeheim Hit, Killed Man With Car After Last Night’s Syracuse Game

    Boeheim has been the head coach at Syracuse for 42 years, making his debut with the team all the way back in 1976. He has taken the Orange to the NCAA tournament 32 times, including five trips to the Final Four, the site says.
    Peter Tork of The Monkees dead at 77

    Peter Tork of The Monkees dead at 77

    Tork played a goofy, lovable character on the TV show, essentially becoming The Monkees equivalent of Ringo Starr in The Beatles. For a time after the end of the show, Tork was known to busk for change with a guitar in Ghiradelli Square.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.