Good news for Newcastle Coal

From the department of reducing-greenhouse-emissions-by-default:
Rio Tinto Group and other coal producers using Newcastle port, the world's biggest coal-export harbor, will have loading quotas cut by 2.2 million metric tons in the fourth quarter to ease port congestion.

The two coal terminals operated by Port Waratah Coal Services Ltd., will reduce exporters' loading limits for a second time in six months, General Manager Graham Davidson said in an e-mail. The terminals will manage an estimated 84.5 million tons of coal this year, less than its capacity of 90.5 million tons.

Producers will be asked to make voluntary cuts, failing which the reductions will be imposed based on their current allocations, Davidson said by phone yesterday. In March, coal producers had their export quota cut by 3.3 million tons after the move was approved by coal producers, he said.
To meet demand, Port Waratah is planning to expand coal- export capacity at Newcastle to 113 million tons a year in the fourth quarter of 2009 from 102 million tons and a rival group, Newcastle Coal Infrastructure Group expects to start up a separate terminal in the second half of 2009.

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