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The Dudgeon Point coal terminal project, designed to handle 180 million tonnes a year, was withdrawn on Friday ahead of a deadline for submitting all the studies for its application for environmental approval.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 Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Aftermath of Scotland Independence Referendum: Platten Speculates

After the referendum debate on Scottish independence Guy Platten, Chief Executive Officer of the UK Chamber of Shipping has called for the divisions created by the campaign to be healed.

Impact of CITGO Oil Refineries Sale: Analysis

A sale of Venezuelan state oil company PDVSA’s Citgo refining assets could dramatically change crude oil flows: Poten & Partners consider the outcomes in their latest 'Tanker Opinion'.

MSC Award Two Time-Charter Contract Modifications

The US Department of Defense informs that Offshore Service Vessels, Inc., and Sealift, Inc., have each been awarded time charter option extensions by the US Navy's

Ports

Impact of CITGO Oil Refineries Sale: Analysis

A sale of Venezuelan state oil company PDVSA’s Citgo refining assets could dramatically change crude oil flows: Poten & Partners consider the outcomes in their latest 'Tanker Opinion'.

Aberdeen Harbour Installs Siklu Security Network

Aberdeen Harbour has extended its security solutions coverage using high-capacity backhaul from Siklu, the market leader in millimeter wave backhaul informs the Israel-based tech firm.

Inchcape Shipping Celebrates 25th Anniversary of ISS Greece

Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has this month celebrated the 25th anniversary of its operations in Greece

Finance

Impact of CITGO Oil Refineries Sale: Analysis

A sale of Venezuelan state oil company PDVSA’s Citgo refining assets could dramatically change crude oil flows: Poten & Partners consider the outcomes in their latest 'Tanker Opinion'.

Dun & Bradstreet Partners Oracle to Reach for Cloud Solutions

Oracle and Dun & Bradstree, the world's leading source of commercial information and insight on businesses, today announced they have partnered to extend Oracle's

Chariot Oil & Gas 1H 2014 Interim Results

Chariot Oil & Gas Announce Interim Results for 1H 2014 Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, today announces

Energy

Chariot Oil & Gas 1H 2014 Interim Results

Chariot Oil & Gas Announce Interim Results for 1H 2014 Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, today announces

Salamander to Start Drilling in G4/50, Gulf of Thailand

Salamander announces that its Environmental Impact Assessment (“EIA”) for exploration drilling in the G4/50 licence, Greater Bualuang area, Gulf of Thailand, has been granted conditional approval.

Inchcape Shipping Celebrates 25th Anniversary of ISS Greece

Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has this month celebrated the 25th anniversary of its operations in Greece

 
 
Maritime Security Maritime Standards Naval Architecture Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.3368 sec (3 req/sec)