AusRAIL, Market Sectors

Coal fuels record volumes for port of Newcastle

<p>The continued surge in coal exports has fuelled record trade volumes through the port of Newcastle for the 2005&#4706 financial year.</p> <p>About $5.3bn of coal left the port last year, taking total coal throughput over the coveted 80m tonne mark for the first time. </p> <p>Total throughput reached 85.6m tonnes, up 2m tonnes from last year, driven largely by a 2.6m tonne increase in coal volumes.</p> <p>Coal accounted for 80.3m tonnes, with $2.2bn of other trade also moving through the port.</p> <p>New South Wales ports minister Joe Tripodi said a $17m expansion of Graincorp’s grain handling facility and plans by BP for two 23m litre storage tanks would help broaden the types of trade the port handles.</p> <p>The Newcastle Port Corporation hoped the development of new superyacht manufacturing facilities, by Sensation Yachts and Azzura Marine, would diversify the port’s trade further.</p> <p>A 52,000-tonne increase in concentrates (363,000 tonnes), and improved performance of woodchips, up 31,000 tonnes to 249,000 tonnes, had also fuelled the growth, Mr Tripodi said.</p> <p>The port also recorded small increases in aluminium (up 3,900 tonnes to 136,000 tonnes) and grinding media (up 7,300 tonnes to 90,500 tonnes). </p> <br />