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Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM


Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP Billiton Ltd finally agreed to the port's restructuring plan, the port operator said on Friday.

Port Waratah Coal Services (PWCS), operator of the world's largest coal port, will now ask the competition regulator to give it the option of implementing producer export quotas until the end of the year.

It said the Newcastle Coal Industry Group (NCIG), a consortium of producers, has agreed on a long-term restructuring plan for Newcastle coal terminal.

The producer export quota system is a means of controlling ship queues at the port and keeping producers' demurrage costs down.

PWCS said the long-term port sharing agreement, which will see the port operating under a take-or-pay contract, will come into effect from the start of 2010.

BHP is leading a group of coal miners to find an equitable way to share limited export capacity at Newcastle, which had been forced to implement a temporary quota system for allocating facilities to producers as surging output causing long shipping queues when miners scrambled to export more coal.

But the quota system, which needed approval from Australia's competition authorities because it required collaboration from rival miners, fell into disarray early this month after the NCIG missed an Aug. 31 deadline to agree on a long term port-sharing proposal.

Shareholders in NCIG are BHP Billiton, which has a 35.5 percent stake, Peabody Coal Felix Resources, Donaldson Coal Pty Ltd, Whitehaven Coal Ltd and Centennial Coal .
Source: Reuters



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Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...


Wednesday, 23 September 09
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Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...


Wednesday, 23 September 09
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The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market ...


Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...


Tuesday, 22 September 09
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