Business Services Industry
Ship queues to take months to clear.
Australasian Business Intelligence, February, 2007
Byline: Andrew Trounson
Feb 22, 2007 (The Australian - ABIX via COMTEX) -- New coal export quotas through the port of Newcastle are expected to take at least three months to clear long queues of waiting ships. Coal miners voted on 21 February 2007 to reintroduce a coal-loading rationing system dumped in September 2006, driven by a queue of 62 vessels waiting off Newcastle and demurrage penalties of about $A1 million a day they are costing the miners. The coal industry hopes its application for rationing will be approved by the Australian Competition and Consumer Commission (ACCC) by mid-March 2007.
Publication Date: 23 February 2007
PORT OF NEWCASTLE CORPORATION
RIO TINTO LIMITED - ASX RIO
RIO TINTO COAL
GLOUCESTER COAL LIMITED - ASX...
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