World’s largest thermal coal exporting facility port – Newcastle, Australia will have a troublesome weekend as the local union workers will go on strike on Friday and Saturday. About 220 union workers will participate in the strike to protest against the changes proposed to their employment contract, as they fear that the changes will erode their rights.
Thermal coal exports from Newcastle rose 5.8% in the first week of June. But as the workers have fear and last few weeks’ of continuous strikes may affect the port’s performance and more ship delays.
The Newcastle coal port had a target export around 110 MnT of coal this year. Whereas, it has a capacity to export around 145 MnT of coal in a year.
Australia's Newcastle daily spot index closed at $86.68 per ton on Thursday, down from $87.82 per ton in last week.
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