- Write by:
-
Tuesday, June 23, 2020 - 11:44:18 AM
-
670 Visit
-
Print
Mining News Pro - The Australian Competition and Consumer Commission (ACCC) is proposing to authorise the NSW Minerals Council and 10 coal producers to collectively negotiate their access to the Port of Newcastle for exports.
The 10 producers that export coal through the Port of Newcastle and are applicants to the application are Glencore Coal, Yancoal Australia, Peabody Energy Australia, Bloomfield Collieries, Centennial Coal, Malabar Coal, Whitehaven Coal, Hunter Valley Energy Coal, Idemitsu Australia, and MACH Energy Australia.
Since December last year, Port of Newcastle Operations (PNO) has been negotiating with individual coal producers, vessel agents, vessel operators and free-on-board (FOB) coal consignees to enter into bilateral long term discounted pricing arrangements.
This includes discounted navigation service charges and wharfage prices set by PNO. The term offered by PNO under the agreement is 10 years.
The ACCC had earlier allowed coal producers to commence collective negotiations with PNO in an interim authorisation granted in April this year. The ACCC now proposes to authorise these arrangements for 10 years.
“Collective negotiation gives coal producers an opportunity to reduce uncertainty and achieve more timely outcomes,” ACCC commissioner Stephen Ridgeway said.
“The ACCC considers there are several likely public benefits from granting this authorisation, including greater input by coal producers into the final agreement, which would ultimately facilitate more efficient investment decisions for the Hunter Valley coal industry. It will also result in lower negotiating costs for all parties involved.”
The voluntary nature of the collective negotiations for both PNO and coal producers means this is unlikely to affect competition between coal producers.
“Coal producers will remain free to negotiate individually with PNO if it is in their commercial interests to do so,” Ridgeway said.
The ACCC is open to comments on the draft determination to inform its final assessment of the application, which is expected in August or September this year.
Short Link:
https://www.miningnews.ir/En/News/552383
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in ...
Peabody Energy Corp. shares sunk to the lowest in seven months after the biggest US coal miner warned that first-quarter ...
Polish government is abandoning plans to separate coal-fired power plants into a special company and is considering ...
Rio Tinto said on Wednesday it is teaming up with a global venture studio and start-up investor to back the development ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Researchers at the University of Edinburgh discovered that bacteria found in areas polluted by acid mine drainage had ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Australian space exploration company Fleet Space Technologies has successfully deployed its next-generation Centauri-6 ...
No comments have been posted yet ...