INTERNATIONAL COAL NEWS

DBCT fails to hit 85Mtpa

WHILE the $A1.3 billion expansion of the Dalrymple Bay Coal Terminal completed at the start of Ju...

Blair Price

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In its half-year results, Prime said DBCT exported 32.1Mt in the six months to the end of 2009.

This performance is 24% or 10.4Mt lower than what would be expected of an 85Mtpa terminal in this period.

“This shortfall is not due to any operational issues at the terminal and does not impact on the financial performance of the terminal, as all customers have 100 per cent take-or-pay contracts,” Prime said.

On Wednesday, Macarthur Coal chief executive Nicole Hollows said DBCT was meant to have reached 85Mtpa a while ago.

The throughput was still 27% higher year-on-year, with Prime noting the impact of strong exports to China and returning demand from traditional destinations, such as Japan, starting from September.

Prime said DBCT had made a final settlement with a contractor in December for the mechanical, structural and electrical works for the offshore outloading component of the expansion.

The contractor lodged claims above the contracted amount, which totalled $26.8 million, according to Prime.

Prime changed its name from Babcock & Brown Infrastructure in November, with the company giving up a 49.9% stake in DBCT to Canada’s Brookfield Asset Management under a $1.8 billion recapitalisation.

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