Australian Coal Port $10-bln Extension Shelved

Posted by George Backwell
Friday, June 20, 2014

A proposed $10 billion Australian coal port expansion, one of two port expansions planned near the Great Barrier Reef, was shelved by its sponsors on Friday who pointed to a lack of demand for the extra capacity.

The Dudgeon Point coal terminal project, designed to handle 180 million tonnes a year, was withdrawn on Friday ahead of a deadline for submitting all the studies for its application for environmental approval.

The decision came in the wake of a slide in coal prices to five-year lows that has forced miners, led by BHP Billiton Ltd and Glencore, to cancel coal projects, shut mines and sack thousands of workers.

The two-terminal project was backed by India's Adani Enterprises Ltd and a subsidiary of Brookfield Infrastructure and led by ports operator North Queensland Bulk Ports Corp (NQBP).

"Those interested in port development must demonstrate demand and current and short-term forecast market demand for coal does not support an expansion to the capacity proposed in the Dudgeon Point Coal Terminals Project," NQBP Chief Executive Brad Fish said in a statement.

NQBP is also involved in plans to expand another coal port, Abbot Point, in Queensland, which faces a legal challenge by green groups and marine tourist operators concerned about potential harm to the Great Barrier Reef.

They fear the Abbot Point project, which involves dredging and dumping 3 million cubic metres of sand about 25 kilometres (15 miles) away from the reef, could harm corals and a range of marine life on the reef.

The Dudgeon Point project would have involved dredging about five times the amount of sand.

The Australian and Queensland governments are under pressure from United Nations agency UNESCO's World Heritage Committee to take more action to protect the Great Barrier Reef otherwise it may be put on a list of sites in danger next year.

Bowing to those concerns, Fish said NQBP would do a broad port planning review and revise the scope of the Dudgeon Point project at the port of Hay Point, but gave no timeframe for completing that work.

"Recent strategic assessments of the Great Barrier Reef will be considered as part of the port planning," NQBP said.

Adani spokesman Craig Dowling said Adani remained interested in building a terminal at Dudgeon Point, but said Adani plans to use Abbot Point for its A$16.5 billion Carmichael coal and rail project.

"We have not changed our view, but we are happy to go along with the new master plan," Dowling said.

($1 = 1.0639 Australian Dollars)

(By Sonali Paul;

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

Ports

Owner Fined for 'Dangerously Unsafe' Vessel

The owner of a harbor tanker has been fined £3,000 with more than £7,000 costs after pleading guilty to a charge of operating a vessel for being dangerously unsafe.

N.America's First LNG Marine Fuel Terminal Opens

Harvey Gulf announced the opening of the first marine LNG fueling terminal in North America. Less than a year after the delivery of the M/V Harvey Energy, America’s first LNG-powered vessel,

Nautilus, Metro Move to New HQ in Long Beach

After more than 92 years of operating from various locations in Wilmington, Calif., Nautilus International Holding Corp., along with its subsidiaries Metro Ports,

Finance

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Paragon Offshore to File for Bankruptcy

Paragon Offshore Plc said it will file for Chapter 11 bankruptcy on or before Feb. 14, becoming the first U.S. energy-related company to seek court protection from

Philippines Mulls Bilateral Sea Talks with China

The Philippines may consider two-way talks with China to resolve a territorial dispute in the South China Sea but only if it wins its case with Beijing at an arbitration tribunal in The Hague,

Energy

US Oil Drillers Cut Rigs to Least in 6 Years

U.S. energy firms this week cut oil rigs for an eighth week in a row to the lowest levels since January 2010, data showed on Friday, as energy firms continue to

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Paragon Offshore to File for Bankruptcy

Paragon Offshore Plc said it will file for Chapter 11 bankruptcy on or before Feb. 14, becoming the first U.S. energy-related company to seek court protection from

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1103 sec (9 req/sec)