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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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Recent News

Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...


Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...


Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...


Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...


Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...


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