The drought across most of Australia’s Queensland state means coal producers are exporting record volumes into an oversupplied market, depriving them of the usual price gains caused by weather disruptions.
BHP Billiton-Mitsubishi Alliance and Prime Infrastructure Group shut berths at two terminals at Australia’s Hay Point port, the world’s biggest export harbor for coal, to carry out planned maintenance.
Australia’s Hay Point port, the world’s biggest coal export harbor, cut July shipments by 24 percent after maintenance at its terminals and the railway serving them. Weekly coal deliveries from Newcastle also fell.
Australia’s Hay Point port, the world’s biggest export harbor for coal, may almost double its shipping capacity after the development of two terminals at the Dudgeon Point site, North Queensland Bulk Ports Corp. says.
Shipments from Australia’s Hay Point port, the biggest export harbor for steelmaking coal, dropped 14 percent in January from a month earlier as mines and rail networks recovered from flooding and heavy rain in Queensland.