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Australian state fast tracks review of second LNG import terminal

Australia’s New South Wales government said on Wednesday it will fast track its review of a liquefied natural gas (LNG) import terminal at the port of Newcastle, proposed by a South Korean firm, as the state urgently looks to beef up gas supply. The $430 million Newcastle GasDock LNG project, planned by South Korean firm EPIK, was declared “critical state significant infrastructure”, which means the project will not have to go to the state’s independent planning commission for approval, saving several months in the review process.

Queue at Australia’s PWCS coal terminals falls on week to 13 vessels

Port Waratah Coal Services’ two terminals at Newcastle port in the eastern Australian state of New South Wales had 13 ships waiting offshore on Sunday, down from 17 ships a week earlier, the Hunter Valley Coal Chain Coordinator said in its weekly report Monday. The queue was expected to comprise less than five ships at the end of March, HVCCC said. A total of 2.2 million mt of coal was shipped out of the PWCS terminals in the week to Sunday, up 111,000 mt from the week before.

Glencore wins cut to coal carrying costs out of Newcastle

Australia’s competition regulator said on Monday the Port of Newcastle must reduce its charges for ships entering the port to carry coal for Glencore , in a big win for the global miner. The Australian Competition and Consumer Commission said Port of Newcastle Operations Pty Ltd (PNO) should cut its current rate by about 20 percent to A$0.61 per gross tonne, backdated to 2016. The port said it would contest the decision. “PNO proposed large increases to the current price, but the ACCC found that a reduction in the price for using the shipping channel was appropriate,” ACCC Commissioner Cristina Cifuentes said in a statement. In the course of the arbitration, Newcastle port told the ACCC that the charge for coal ships entering the port should be increased to $1.36 per tonne for this year. Glencore submitted the charge should be reduced to $0.41 per tonne. The port said it was disappointed by the decision.