Queensland’s northern ports reported record levels of coal exports in October at the same time as coal prices show signs of stabilising.
5.98 million tonnes of coal passed through the Port of Gladstone in October, a 17.4% increase on the previous year, while Dalrymple Bay, near Mackay, recorded 5.79 million tonnes, up 19 per cent on October 2013 figures.
Transport and Main Roads Minister Scott Emerson said Queensland’s ports were on target to top the 200 million tonne mark for 2013-14.
“There were 180.2 million tonnes in 2012-13, an increase of 9.8 per cent increase on 2011-12.”
“This year we are on target to achieve a further 11.5 per cent increase, taking throughput to 200.5 million tonnes.” Emerson said.
Treasurer Tim Nicholls said the record export figures came at a good time, with world commodity prices showing improvement.
“Importantly we are seeing coal prices also stabilise with the Hard Coking Coal Benchmark Price up five per cent – the first increase in more than two years.
“The recent opening of the Kestrel South and Daunia mines is clear evidence coal companies believe they have a future in Queensland.” Nicholls said.
Bring on another boom