By Rob McKay
QRNational Coal will transport thermal coal 120 kilometres from HVEC’s Mount Arthur mine near Muswellbrook to Port Waratah Coal Services’s two terminals and the new Newcastle Coal Infrastructure Group terminal, in which BHP Billiton is a shareholder, in line with the expansion of the mine.
“With this contract and two contracts recently announced with Peabody Energy and Felix Resources we will almost double our share of the Hunter Valley market to about 30 per cent,” QR chief executive Lance Hockridge said.
“Our continuing success in winning new business in a market we entered only in 2005 demonstrates we are bolstering our reputation as a safe, reliable and efficient service provider against a competitor with an established position in the Hunter Valley.
“With coal volumes to the port of Newcastle forecast to double in size over the next 10 years we are committed to further increasing our market share as well as capturing market growth.”
QR plans to spend $290 million in new rolling stock to support the Peabody and Felix contracts.
Source: Lloyd’s List Daily Commercial News – www.lloydslistdcn.com.au
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