North America coal short-term outlook March 2019: Troubled waters for river deliveries
High water levels and flood conditions, particularly on the Ohio and Mississippi Rivers, are causing delays all throughout the US river-transportation infrastructure. Snowmelt and heavy rains have resulted in swelling waterways and dangerous conditions. Barges have been unable to safely navigate the river to deliver their cargoes. However, coal producers are guardedly optimistic in the guidance for 2019 in certain basins where there is greater access to export markets. Although we see natural gas prices around US$2.8/mmbtu by this summer, the real driver for spot coal prices will be the international markets.