Coal companies without formal contracts to have their coal rail-hauled to the port might not be able to have their coal loaded onto ships under a new policy announced yesterday.
Coal-loader operator Port Waratah Coal Services says it has taken the punitive step because not enough coal is getting to the loaders on time.
Traditionally, coal companies have booked trains to get coal to the port to be loaded on a ‘‘best endeavours’’ basis.
But under a Newcastle coal industry expansion plan overseen by the Australian Competition and Consumer Commission, coal-loading and rail-hauling is supposed to be done under long-term ‘‘take or pay contracts’’.
While the coal-loader contracts are all done, progress has been slower on the rail contracts.
General manager Graham Davidson said PWCS had contracts to load 106million tonnes this year but was unlikely to top 97million tonnes because of ‘‘coal chain reliability issues’’ and bad weather.
From next month, PWCS reserved the right to push ships back in the queue if their coal was not covered by rail-haulage contracts.
Coal companies also had a ‘‘one-off opportunity’’ to give up some of their coal allocations at the loaders, saving them financial penalties for not taking their full ‘‘take or pay’’ allocations.
Industry sources said last night that the new policies had another side.
‘‘By forgiving those companies who couldn’t meet their obligations, PWCS is effectively penalising those that did,’’ one shipper said.
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