BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR
COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, which broke in a storm on 13 November.

Ships have not been able to retrieve coal from Queensland Bulk Handling (QBH) since the incident and New Hope will now work with its customers to recover the shipping backlog.

QBH's insurer will cover the loss and costs associated with the incident and the company does not expect it to have a material impact upon its fully year results.

CEO and Managing Director, Shane Stephan says, "The recovery from this unprecedented weather event demonstrates the high level of skill of our in-house engineering and management teams."

"Importantly, no injuries resulted from the storm event or from the recovery work. We expect that shippers will be able to recover delayed cargoes over the coming six months."

New Hope Corporation is trading up 2.96 per cent at $1.755 per share this afternoon.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Advertisement

Related Stories

Ellume fast tracks US travel with rapid testing for Delta Airlines passengers

Ellume fast tracks US travel with rapid testing for Delta Airlines passengers

Brisbane-based diagnostics company Ellume has struck a major deal...

"Management is head. Leadership is heart": Jack Delosa's guiding tips to startup founders

"Management is head. Leadership is heart": Jack Delosa's guiding tips to startup founders

"Lots of business literature conflates leadership and manage...

Flight Centre offers 1 per cent of stock to keep staff happy

Flight Centre offers 1 per cent of stock to keep staff happy

After a $700 million capital raise diluted the shareholdings of F...

Administrators call for Smiles to be wound up as practice sales recoup $9.2m

Administrators call for Smiles to be wound up as practice sales recoup $9.2m

Deloitte's administrators of fallen dental roll-up Smile...