While the fires in Australia are reportedly not expected to die down anytime soon, Wood Mackenzie does not expect a significant impact to the massive coal-exporting nation's supply chain.

Viktor Tanevski, a principal analyst in coal research at the firm's office in Sydney, said a handful of Australian coal mines suspended production because of the fires and noted that some are nearing "key mines" in the Hunter Valley basin. That region typically produces about 2 million tonnes of coal for export in a week.

Should Australian producers reduce or halt production, they could likely meet their export needs with stockpiles at the mine or port and refill output over time.

The firm expects Australian coal production to be flat this year, totaling about 210 million tonnes given lower guidance from Glencore PLC and the "limited impact" from the bush fires so far.