PORT KEMBLA COAL TERMINAL WORKERS ON STRIKE UNTIL MONDAY
Port Kembla Coal Terminal workers will remain on the picket line after deciding to strike until Monday.
They were due to return to work on Thursday morning after PKCT locked them out for a week - the third such lockout in four weeks. Combined with an earlier week-long strike it means the workers have not set foot inside the coal terminal since January 19. That's a total of 30 days without a pay cheque. FULL
GOVERNMENT BACKS PORT KEMBLA AS OPTION FOR CONTAINER TERMINAL
Using Port Kembla as the location for a container terminal makes more sense than Newcastle, according to a NSW government submission.
A parliamentary inquiry into the limitations restricting the port of Newcastle from creating a container terminal started late last year. As part of the leasing deal of Port Kembla and Port Botany, the government would pay leaseholder NSW Ports compensation if Newcastle started a container port. The ACCC said this deal was “anti-competitive” and has started legal action. FULL STORY
PORT KEMBLA TO ACT AS CRUISE COMPANY'S TURNAROUND PORT
Monday’s visit by the Explorer of the Seas will not be the last with another three ships locked in for “turn around visits” to Port Kembla.
Destination Wollongong general manager Mark Sleigh confirmed Chinese company Star Cruises would use the Illawarra as a home port for three trips in the upcoming season (October to April). This means each cruise would begin and end at Port Kembla, increasing visitors to around 9000 each time as opposed to around 4500, with more economic spend due to overnight stays. FULL STORY
A WORKING GROUP REPORT LOOKING AT THE FEASIBILITY OF RELOCATING THE PORTS OF AUCKLAND IS EXPECTED SOON
Infrastructure Minister Shane Jones says he’s expecting to receive a report in the next four to six weeks which could have major ramifications for the future of the Ports of Auckland.
The paper will be from the Upper North Island Supply Chain Strategy working group which the government established last year to look at the development and delivery of a freight and logistics in the country’s Upper North Island. It has also been tasked with investigating the feasibility of relocating the
Ports of Auckland to Northport in Whangarei. FULL STORY
PORT OF TAURANGA GROWTH NOT REFLECTED IN EARNINGS
Log exports and increasing container numbers from the Port of Tauranga are expected to underpin its half-year result, due for release next Monday.
Sales revenue is predicted to rise 5.1% to $148.7million, earnings before interest, tax, depreciation and amortisation to be up 4.3% to $80.5million and reported after-tax profit to grow by 6.3% to $50.1million, Forsyth Barr broker Damian Foster said. ''We expect robust trade cargo tonnage during first half 2019, driven by log exports up by 11% and container volumes, being up about 6%,'' he said. FULL STORY
NAPIER PORT WELCOMES NEW DIRECTORS
Napier Port has welcomed two new directors to its board, with Vincent Tremaine and John Harvey appointed as non-executive directors.
Vincent Tremaine brings a wealth of experience in the port sector, having served for 16 years as CEO of Flinders Ports Holdings, which owns seven South Australian ports. He has also worked for Toll Ports and Resources, managing GeelongPort and Port of Hastings in Victoria. Based in Adelaide, he is currently Chairman of Riverland Holdings and a director of South Australia’s Statewide Superannuation. Until recently, he was also Chairman of both Ports Australia and the South Australian Chamber of Commerce and Industry and a director of Australia’s National Heavy Vehicle Regulator. FULL STORY
ALARM RUNG OVER SYDNEY EMPTY CONTAINER SYSTEM
Sydney is beset by cost-heavy forces on haulage around Port Botany, Container Transport Alliance Australia (CTAA) flags.
Falling empty container park (ECP) capacity, larger volumes of containers being handled, and a high level of import empty container ‘re-directions’ by shipping lines, are causing significant additional empty container handling costs and efficiency challenges there, the organisation points out. A decade after the last major container handling reform was put in place, the present situation is said to be increasingly dire and injecting higher but unproductive costs into the supply chain an ultimately the economy. FULL STORY
QUEENSLAND FLOODS PROMPT EARLY START TO PILBARA LIVE CATTLE EXPORTS
Devastating flooding in Queensland has provided an unexpected boost to Western Australia's struggling cattle live export industry.
The first shipment of 3600 cattle from the Pilbara left Port Hedland today aboard the Gudali Express, six months ahead of schedule because of shortages in Queensland. The flooding has caused a backlog of cattle in Townsville, and left buyers in Indonesia looking to the Pilbara earlier than normal to fulfil orders.
Port Hedland Live Export Depot manager, Paul Brown, said the flood events have been heart-wrenching to see. FULL STORY
MARITIME UNION ON WARPATH OVER FOREIGN CREWS ON BHP ORE SHIPS
WA union firebrand Christy Cain has issued an extraordinary demand for the State Government to review all mining contracts with BHP unless the company reverses a decision to replace Australian crews with foreigners on iron ore ships.
In a dramatic escalation of the fight between the Maritime Union of Australia and the mining giant, Mr Cain said Premier Mark McGowan should look at cancelling mining leases with BHP unless it committed to reinstating Australian workers. The MUA boss said Mr McGowan should be following the example of Federal Labor leader Bill Shorten, who has been critical of the BHP decision. FULL STORY
PACIFICO PROVING UP ECONOMIC VIABILITY OF SORBY HILLS
Pacifico Minerals Ltd has completed phase I of its infill drilling campaign at the Sorby Hills Lead Silver Zinc Project, and results from 34 of the 52 holes analysed feature promising grades.
In terms of ownership structure, Pacifico has a 75% interest in the joint venture with the remaining 25% held by Henan Yuguang Gold & Lead, the largest lead smelting company and silver producer in China. The Sorby Hills project which consists of a number of highly prospective targets is 50 kilometres
north-east of Kununurra in Western Australia. FULL STORY
NEWCREST PROFIT MORE THAN DOUBLED, BUT GOLD RESERVES DOWNGRADED 13PC
Newcrest Mining said net profit lifted 142 per cent to $US237 million ($334.3 million) for the six months ended December 31, primarily due to higher gold and copper sales volumes from its Cadia mine.
However the company said its reserves of gold copper and silver had been revised down. In an announcement to the Australian Securities Exchange on Thursday, the company revised down ore reserves by 13 per cent for gold and 34 per cent for copper, compared to the same period last year. FULL STORY
ROLEK RESOURCES SETS AGENDA FOR VALUE CREATION FROM BARRAMINE MANGANESE
Rolek Resources Ltd hopes to meet global supply deficits for the critical metal of manganese through readmission to the Australian Securities Exchange and developing its Barramine Manganese Project in Western Australia’s Pilbara region.
Initial metallurgical tests have shown a 20% head-feed produces a product consisting of 43% manganese and 10% iron. About $7.2 million has been spent on exploration at the project 255 kilometres east-southeast of the Pilbara centre of Port Hedland. FULL STORY
ADANI WILL BE INVESTIGATED OVER WETLAND SPILL WITH DOUBLE RESTRICTED DEBRIS LEVELS
The Department of Environment and Science has confirmed it will investigate Adani after water from the north Queensland floods spilt from the Abbot Point coal port last week into wetlands.
The department's test results came back on Wednesday and showed the level of "total suspended solids" - the volume of debris such as soil, plant material or dust - in the water was 33mg/L. Adani said on Tuesday the level of total suspended solids was 58mg/L, according to the separate test it commissioned. The authorised maximum level according to the company's licence is only 30mg/L. Adani did not apply for a temporary licence to exceed its total suspended solids limit. FULL STORY
COLLIE COAL PROJECT IN NATIONAL SPOTLIGHT
Collie will be in the national spotlight when ambitious plans to use local coal to make premium hydrogen and synthetic diesel are highlighted at an upcoming major national conference.
Collie Synfuels managing director Costa Tsesmelis will provide an overview of its Collie project at the inaugural Australian Hydrogen Energy Summit taking place in Melbourne over March 26 and 27. The event will examine the commercialisation of hydrogen technology for Australia’s energy future, with Mr
Tsesmelis focusing his presentation on the coal-to-hydrogen stream of the Collie Flagship Project. FULL STORY
DIVIDEND BONANZA FOR WOODSIDE INVESTORS AHEAD OF POSSIBLE TAX CHANGE
Oil and gas giant Woodside Energy has hiked its full-year dividend above $US1 for the first time since 2015, rewarding shareholders ahead of potential franking credit tax changes.
The higher payout, which sent its shares up about 3 per cent, came despite a lower than expected full-year net profit of $1.36 billion, up 28 per cent on the prior year but falling short of analysts' average estimate of $1.45 billion. Revenue rose 32 per cent to $5.24 billion. Woodside chief executive Peter Coleman said flagged changes to franking credits under a Labor government had played a role in the higher dividend, along with rising oil prices and strong cash-flow generation. FULL STORY
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