Newcastle sets another record

ALMOST 8.97 million tonnes of coal was exported through Newcastle in December, setting a new monthly record.
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Image courtesy of PWCS.

Blair Price

The previous record for Newcastle’s port was 8.8Mt, and only set in October.

“The continuing strong demand for coal comes on top of the new Hunter Coal Export Plan which will further boost coal export revenue and prosperity for the Hunter Region,” New South Wales Acting Treasurer John Hatzistergos said.

“The Newcastle Port Corporation and the Hunter Valley Coal Chain have worked hard in the past few years to make Newcastle the largest coal export port in the world and this new record can only reinforce that reputation.”

He added the state’s economy accounted for more nearly one-third of the national economy and had grown to more than $382 billion.

The treasury also upgraded its forecast for the state economy to grow 1.5% for the financial year compared to 0.5% predicted in June.

“Coal exports contributed significantly to the half-year record with a total of 49,169,692 tonnes being shipped during the six months,” Ports and Waterways Minister Paul McLeay said.

McLeay also expects coal export revenue to increase $6.5 billion per year by 2016 on the back of the Hunter Coal Plan which came into effect just over a week ago.

Minister for Hunter Jodi McKay expects the region to remain a key economic driver with an estimated $5 billion of investment in port and rail infrastructure over the next four years.