New South Wales Ports and Waterways Minister Paul McLeay said take-or-pay contracts under the new scheme already totalled more than $A4 billion.

He expects the framework, which replaces the long-criticised capacity balancing system, to boost coal export revenue by $6.5 billion by 2016.

“These long-term contracts give industry the confidence to invest in new coal chain infrastructure and mining activity,” he said.

“It’s estimated expanded capacity at the port will deliver up to 25,000 jobs in the Hunter over the next six years and generate an additional $500 million of coal royalties each year.”

NSW Minister for the Hunter Jodi McKay expects Newcastle to double its current 90 million tonnes per annum of export capacity to 180Mtpa by 2015.

The first ship loaded under the framework, at 6am on New Year’s Day, was the Spring Ocean vessel, bound for South Korea with 82,000 tonnes of coal.

Port operators Newcastle Coal Infrastructure Group, Port Waratah Coal Services and Newcastle Ports Corporation signed the framework last year on behalf of the Hunter Valley coal producers.

These companies are BHP Billiton’s Hunter Valley Energy Coal, Coal & Allied, Xstrata Coal, Anglo Coal Australia, Integra Coal (Vale Australia), Peabody Pacific, Centennial Coal, Austar (Yancoal Australia), Felix Resources, Gloucester Coal, Whitehaven Coal, Donaldson Coal, Bloomfield and Idemitsu.

NCIG is owned by BHP, Centennial, Donaldson, Peabody, Felix and Whitehaven.

NCIG’s billion-dollar export terminal on Kooragang is expected to be completed by April.