Record ship queues at the Dalrymple Bay Coal Terminal (DBCT) port in Queensland reflect a rising number of new mining projects, expansions and restarts that are boosting Australian coking coal exports, with more to come over the next couple of years.
Ship queues at DBCT, which is the cheapest and most easily available port for coal mining firms in Australia’s coking coal rich Bowen basin, have been at around 45 vessels for much of the past six months, rising above 55 in early December, compared to historical levels of around 20. The queue is inconvenient and costly for shippers, but is also a sign that the Queensland coking coal industry is rebounding after years of cost cutting and belt tightening.
Anglo Pacific Group PLC (LON:APF) is a global natural resources royalty company. The Company’s strategy is to develop a leading international diversified royalty company with a portfolio centred on base metals and bulk materials, focusing on accelerating income growth mainly through acquiring royalties on projects that are currently cash flow generating or are expected to be within the next 24 months, as well as investment in earlier stage royalties. It is a continuing policy of the Company to pay a substantial portion of these royalties to shareholders as dividends.