PWCS general manager Graham Davidson said the CBS will be based primarily on the previous system with some minor amendments.

The PWCS will seek ACCC authorisation to:

Reinstate the CBS retrospectively from January 1, 2007 with effect until December 31, 2007;

Move “large producers” to a monthly allocation system, to ensure a more even allocation mechanism within quarters to address the current end-of-quarter vessel queue peaking pattern; and

Double the “flexibility amounts” to 180,000 tonnes, to recognise legitimate fluctuations in demand and allow greater flexibility to producers.

Davidson said interim authorisation will also be sought from the ACCC so that the excessive vessel queuing can be addressed urgently.

He said PWCS was hopeful that interim authorisation would be granted within four weeks of lodging its application.