Coal queues hike up costs

THE vessel queues off the Port of Newcastle have continued to build. Sixty-seven coal ships have been waiting for more than three weeks, costing the industry more than $1 million a day in demurrage fees, according to the Australian Competition and Consumer Commission.
Coal queues hike up costs Coal queues hike up costs Coal queues hike up costs Coal queues hike up costs Coal queues hike up costs

Newcastle Port

Staff Reporter

ACCC chairman Graeme Samuel said that the backlog of coal ships waiting to be loaded off Australia's largest coal port is unlikely to be cleared until the middle of the year and could cost coal producers up to $460 million, the Australian reported.

Samuel said the queues were unlikely to recede to a more workable length until July.

“If the amended system is not reinstated, Australian coal producers could face substantial demurrage costs as high as $460 million for 2007," Samuel told the Australian.

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