Australia's Newcastle port cuts coal quotas

摘要

Australia's Port Waratah Coal Services (PWCS), operator of the coal terminals at Newcastle's port, is cutting producer allocations by a total of 1 million metric tonnes (mt) for the third quarter, with offshore coal vessel queues remaining above the 40- vessel mark in the past few weeks. The move is subject to the Australian Competition and Consumer Commission's approval. The cuts were expected by the market, although this is the second time in recent months that the port operator has slashed coal allocations to the port. The lengthening queues prompted it to reduce the allocations by 1 million mt in May.