Green steel threatens to leave Dalrymple Bay coal port stranded

Why on earth would anybody buy a massive coal export terminal chokers with debt from some financial engineers, namely the boys from Brookfield? The old adage, “selling coal to Newcastle”, springs to mind. Selling sand to the Saudis, likewise.

In defence of Dalrymple Bay Infrastructure, which tanked from day one when it listed on the sharemarket last year, the majority of its coal exports are coking coal – metallurgical coal used to make steel – rather than the dirtier thermal coal which is used to generate power. 

Roughly, 80% of coal in NSW is thermal, and 20% coking. And visa-versa for Queensland. This makes the port of Newcastle most definitely a stranded asset in waiting. Yet Dalrymple Bay may not be too far behind it, if…