• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Australia's competition regulator has given an interim approval to reintroduce a coal-export quota system at Newcastle, world's largest coal-exporting port. Coal producers in Australia's Hunter Valley reportedly voted last month for resumption of quota system at Newcastle after the queue of ships waiting to load coal at the port reached a record level.

Ships, it is learnt, now have to wait more than 20 days to load. The quota system was first introduced in 2005 but scrapped in 2006. Since then the queues have more than doubled as coal producers are believed to have over-booked ships, far beyond the port's capacity. The reintroduction of the quota system, it is felt, will not only reduce the number waiting ships and thus help achieve a balance between the capacity and demand but will also result in significant demurrage savings. The total demurrage bill, according to one estimate, could have reached more than $350 million in 2007 if the quota system was not re-introduced.

Our Bureau

More Stories on : Shipping | Coal | Exports & Imports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Some positive numbers for Air India

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line