April-May maintenance to close Australian coal systems
Australian rail firm Aurizon will close the 50mn t/yr Blackwater coal system in Queensland over 13-17 April for maintenance, with further closures scheduled for May.
The firm, which operates the Central Queensland Coal Network (CQCN), confirmed that it plans to close its 60mn t/yr Goonyella system during 1-3 May, its 15mn t/yr Moura system for 14-16 May and Blackwater again during 27-29 May, as part of an annual planned maintenance programme. The only CQCN system not included in the maintenance programme is the 15mn t/yr Newlands system.
Blackwater and Moura deliver coal to the port of Gladstone from the southern end of the Bowen basin. Goonyella delivers to the adjacent ports of Dalrymple Bay Coal Terminal, which is a multi-user facility, and BHP-operated Hay Point from the central Bowen basin. Newlands delivers to Abbot Point from the northern Bowen basin.
Aurizon, Pacific National, BHP and some smaller coal haulage operators use the CQCN.
Aurizon is targeting a 5pc year-on-year growth in coal haulage by its fleet across the CQCN and New South Wales/southern Queensland in the 2023-24 fiscal year to 30 June. This implies a target of 194mn t for 2023-24. It hauled 94mn t during July-December, leaving it a target of 100mn t for January-June.
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India’s Gail signs 14-year time charter for LNG carrier
India’s Gail signs 14-year time charter for LNG carrier
Mumbai, 17 May (Argus) — India's state-controlled gas distributor Gail has signed a 14-year time charter agreement with US-based LNG shipping firm CoolCo for an LNG carrier, the former said on 16 May. The time charter for the LNG carrier will start operating from early 2025 as it is currently under construction. Gail is likely to receive the carrier during October-December in the Gulf of Mexico, CoolCo said. The charter will be the fifth LNG carrier in Gail's vessels that are intended to secure long-term supply of LNG in India. Gail will have an option to extend the charter by two additional years beyond its contracted 14-year period. The LNG carrier will likely be used to ship LNG volumes from the US, Russia, and from its recent contracts with Abu Dhabi's state-owned Adnoc and trading firm Vitol , a company official told Argus . (See table) "Long-term cargoes are there and there are a few lifts from the spot markets as well," the source added. "It is how the consumption pattern of the country is now shaping more towards LNG since domestic volumes are constrained." The firm also planned to add an LNG tanker to ship cargoes from the US, Argus exclusively reported in February. Gail expects India's gas demand to rise and has been looking to secure more term deals . Gail is seeking an additional 7mn-8mn t/yr of LNG for its portfolio with a further 1mn-2mn t/yr, the firm said in January. This reiterates targets set in August last year . Gail's portfolio growth aligns with the government's plan to increase the share of gas in its primary energy mix to 15pc by 2030 from around 6pc in 2022. By Rituparna Ghosh Gail contracts mn t/yr Supplier/terminal Volume Fob/des Dates Sabine Pass 3.5 fob 2018-38 Cove Point 2.3 fob 2018-38 SEFE 2.5 des 2018-41 Vitol 1.0 des 2026-36 Adnoc 0.5 des 2026-36 Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Texas barge collision shuts GIWW section: Correction
Texas barge collision shuts GIWW section: Correction
Corrects volume of oil carried by barge in fourth paragraph. Houston, 16 May (Argus) — Authorities closed a six-mile section of the Gulf Intracoastal Waterway (GIWW) near Galveston, Texas, because of an oil spill caused by a barge collision with the Pelican Island causeway bridge. The section between mile markers 351.5 and 357.5 along the waterway closed, according to the US Coast Guard. A barge broke away from the Philip George tugboat and hit the bridge between Pelican Island and Galveston around 11am ET today. Concrete from the bridge fell onto the barge and triggered an oil leak. The barge can hold up to 30,000 bl oil, but it was unknown how full the barge was before the crash, Galveston County county judge Mark Henry said. It was unclear when the waterway would reopen. An environmental cleanup crew was on the scene along with the US Coast Guard and Texas Department of Transportation to assess the damage. Multiple state agencies have debated the replacement of the 64-year-old bridge for several years, Henry said. The rail line alongside the bridge collapsed. Marine traffic does not pass under the bridge. By Meghan Yoyotte Intracoastal Waterway at Galveston Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Anglo American to exit from coal, Ni, platinum: Update
Anglo American to exit from coal, Ni, platinum: Update
Adds details of Anglo American's latest plan to demerge or sell its assets Singapore, 14 May (Argus) — UK-South African mining firm Anglo American has announced plans to exit its coal, platinum, nickel and diamond businesses, shortly after rejecting Australian resources firm BHP's latest takeover bid. Anglo American wants to sell its coking coal business in Australia, which includes the 6.5mn t/yr Moranbah and 5mn t/yr Grosvenor mines in Queensland. The firm also plans to demerge Anglo American Platinum, as well as sell or demerge its De Beers diamond business, it said on 14 May. Anglo American will also slow investment in its Woodsmith polyhalite fertilizer project in the UK, where it was previously targeting first commercial output in 2027 . It is also exploring options for care and maintenance as well as divestment of its nickel assets in Brazil. The move to "accelerate the delivery of consistently stronger shareholder returns" with the latest plan comes on the back of a takeover bid by BHP. Anglo American turned down a revised £34bn ($42.7bn) takeover proposal from BHP on 13 May because it "continues to significantly undervalue Anglo American and its future prospects". It earlier rejected BHP's £31bn all-share offer for the same reason. "The latest proposal from BHP again fails to recognise the value inherent in Anglo American," Anglo American chairman Stuart Chambers said on 13 May. Anglo American shareholders are well positioned to benefit from increasing demand from "future-enabling products", Chambers added. Copper was the second-highest contributor to Anglo American's earnings last year, accounting for 32pc of its earnings before interest, taxes, depreciation and amortisation, after iron ore. BHP's latest offer represents a total value of around £27.53 per Anglo American ordinary share, including £4.86 in Anglo Platinum shares and £3.40 in Kumba shares, BHP said on 13 May. The takeover proposal came with a requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo American Platinum and Kumba Iron Ore — its assets in South Africa — to Anglo American shareholders. "This leaves Anglo American, its shareholders and stakeholders disproportionately at risk from the substantial uncertainty and execution risk created by the proposed inter-conditional execution of two demergers and a takeover," Anglo American said. By Reena Nathan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Anglo American rejects BHP’s revised takeover proposal
Anglo American rejects BHP’s revised takeover proposal
Singapore, 14 May (Argus) — UK-South African mining firm Anglo American has rejected a revised £34bn ($42.7bn) takeover proposal from Australian resources firm BHP because it "continues to significantly undervalue Anglo American and its future prospects". Anglo American earlier rejected BHP's £31bn all-share offer for the same reason. "The latest proposal from BHP again fails to recognise the value inherent in Anglo American," Anglo American chairman Stuart Chambers said on 13 May. Anglo American shareholders are well positioned to benefit from increasing demand from "future-enabling products", Chambers added. Copper was the second-highest contributor to Anglo American last year, accounting for 32pc of its earnings before interest, taxes, depreciation and amortisation. BHP's latest offer represents a total value of around £27.53 per Anglo American ordinary share, including £4.86 in Anglo Platinum shares and £3.40 in Kumba shares, BHP said on 13 May. The takeover proposal came with a requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo American Platinum and Kumba Iron Ore — its assets in South Africa — to Anglo American shareholders. "This leaves Anglo American, its shareholders and stakeholders disproportionately at risk from the substantial uncertainty and execution risk created by the proposed inter-conditional execution of two demergers and a takeover," Anglo American said. By Reena Nathan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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