Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

UPDATE 1-Australian coal rail line to Newcastle port partly reopens as flood waters recede

Published 24/03/2021, 04:03 pm
Updated 24/03/2021, 04:06 pm
© Reuters.

* Rail line between Maitland and Newcastle reopens

* Port of Newcastle continues to operate

* Rain stops after nearly a week (Adds comment from ARTC and Port of Newcastle)

By Sonali Paul

MELBOURNE, March 24 (Reuters) - Australian Rail Track Corp (ARTC) said on Wednesday it has partially reopened the Hunter Valley coal rail lines to Newcastle, the world's biggest coal export port, after nearly a week of heavy rain stopped in New South Wales state.

Coal rail deliveries to the Port of Newcastle, which last year shipped 158 million tonnes of coal, were suspended on Thursday when relentless rainfall began in New South Wales, triggering the worst floods in at least 50 years.

"Coal services have resumed in a limited capacity following minor restoration works, which were carried out during a six hour work window on Wednesday morning after flood waters receded at Sandgate," the ARTC, which runs the rail network, said in a statement.

It has reopened limited operations between Newcastle and Maitland and said it would continue to assess conditions as it progresses toward a full return to service.

The network between Narrabri North and Moree remains closed, it said.

The Hunter Valley rail network serves mines run by BHP Group BHP.AX , Glencore Plc GLEN.L , New Hope Corp NHC.AX , Whitehaven Coal WHC.AX and Yancoal Australia YAL.AX , among others.

The Port of Newcastle, which had to slow ship movements earlier in the week, said on Wednesday it was continuing to operate.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.