Australia’s Wicet terminal nears commissioning

OREANDA-NEWS. The 27mn t/yr Wiggins Island coal export terminal (Wicet) in Queensland, Australia is now moving into the commissioning stage and is likely to be fully operational in May.

Deliveries of coal for the first vessel have started. Loading operations are scheduled to begin on 18 April and it is expected to take around 8-10 days for the terminal to be commissioned.

Wicet was first approved for development in 2011 when coal prices were much higher than current levels. It received expressions of interest from 22 coal producers for more than 176mn t/yr of export capacity.

One of the terminal's eight original owners, Australia's Bandanna Energy, is in administration, requiring the other shareholders to meet the take-or-pay obligations associated with Wicet. The coal price outlook remains weak because of an oversupply of thermal and coking coal.