This ABC article offers some useful context on the China coal...

This ABC article offers some useful context on the China coal situation. While there are potential political undertones, the impact of the Dalian stoppage we're reading about in the media is absolutely tiny. It's not time to panic - I think we'd be seeing a much greater impact if China was really trying to send a message. Of course, nobody really knows - thats the point the article makes. But for now let's not overreact people!

https://mobile.abc.net.au/news/2019-02-25/china-policy-on-australian-coal-dark-and-impenetrable/10843148?pfmredir=sm

Some key points:

'If there was a flashpoint...it was perhaps the 230 per cent increase of total coal imports into China last month.

The 34 million tonnes of coal lobbed on China's doorstep in January was a record month, and well above the 2018's monthly rate of 20 to 25 million tonnes.

Around 15 per cent of Dalian's annual coal quota landed in January alone, in what is not generally a peak month for imports.'

And

'So far, the ban/restriction affects a pretty small proportion of Australian coking coal — 7 million tonnes out of a total of 383 million tonnes per annum (mtpa) — at one medium sized port.If Dalian remains closed to Australia, those 7 million tonnes could probably find another buyer, like Korea's steel mills, without too much disruption.'