New castle port has reported that their last week (upto 8 July'13) shipment has increased by 27.5% incomparision to preceding week's (upto 1st July ) report. Till this week (up 8th July) port has shipped around 2.9 MnT of coal. The port is targeting around 12.9 months of coal shipment in July which is 2.3% more from June target.
The port has also reported that during last week 30 vessels entered at port for loading with an average waiting time of 3.85 days, Whereas, just preceding week 36 vessels loaded at port with an average waiting time of 2.84 days.
As on 8th July port had 9 vessels loading coal at port, 6 vessels were waiting to load and 51 vessels were expected to reach at the port.
For Newcastle port sale Morgan Stanley is Hired by Australian State
From other source Australia's New South Wales state has hired Morgan Stanley to study whether it makes commercial sense to sell the world's biggest coal-export terminal, which could fetch up to 700 million Australian dollars (US$634 million).
Morgan Stanley will review the future ownership of the Port of Newcastle, which handles coal from producers like Glencore Xstrata. The bank will be tasked with finding a buyer if it recommends a sale as the best way forward
The Port of Newcastle handles more than 105 million metric tons of coal annually, mostly bound for Japan and China. Even though commodity prices have softened amid waning demand from economies such as China, Australia's port operators have locked major mining companies into contracts that guarantee they will get paid for specified volumes of coal whatever the eventual supply.
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