Asciano hauls more coal during Jul-Dec

OREANDA-NEWS. Australian coal transport firm Asciano saw a 5.8pc increase from a year earlier in its coal haulage volumes during July-December, reflecting the start of the Hail Creek coal contract in Queensland with UK-Australian mining firm Rio Tinto.

The 83.3mn t transported included a 4.4pc rise in volumes to 56.5mn t in its southeast Australia operations, mostly in New South Wales (NSW). Asciano's Queensland coal operations saw an 8.9pc increase to 26.8mn t.

"Coal haulage in both Queensland and NSW is currently anticipated to stay around present railing levels over the second half of 2014-15 subject to any disruption caused by the weather over the next two months," Asciano said.

Incremental volumes of 8mn t/yr secured with existing coal customers are expected to drive some growth in tonnage. "Due to the current lower coal prices, a number of smaller mines have been put on care and maintenance," the company said.

Asciano has 180mn t of coal haulage contracts for the 2015-16 fiscal year ending 30 June. Asciano's 12-year, 4mn t/yr haulage agreement with Q-Coal is expected to start during 2015-16.

Asciano has added more trains in the last six months period to meet the increase in volumes being transported.

Its rail haulage division, which includes its coal operations, posted an 18.8pc rise against a year earlier in earnings before interest and tax to A\$291.1mn (\$226mn) in the six months to the end of 2014. Coal access revenue fell by 17.6pc to A\$89.8mn during July-December from A\$109mn.

Asciano recorded a 2.1pc fall in group revenues to A\$1.86bn during July-December. Profit rose by 1.2pc to A\$187.5mn.