MARKETS

BMA lifts force majeure

BHP Billiton Mitsubishi Alliance has lifted the force majeure it put in place on March 23 as a result of Cyclone Ului passing through central Queensland.

Lou Caruana
BMA lifts force majeure

A spokesperson for the company said customers had been informed of the lifting and that progress had been made on returning the Hay Point Coal Terminal to fully operational status after it was damaged in the cyclone.

“Following testing and commissioning of conveyor belt systems, shiploader and berthing arrangements on April 7, Berth 1 at BMA’s Hay Point Coal Terminal is now operational,” the spokesperson said.

“Berth 2 has been in operation since April 2.

“Further testing and recovery works to repair the damage from Cyclone Ului is ongoing and the previous guidance of three to six weeks from March 24 for these works to be completed remains current.”

The neighbouring Dalrymple Bay Coal Terminal escaped any serious damage from the cyclone and resumed shipping on March 24.

The state’s wet season has led to a series of force majeure declarations, affecting mines and the coal chain.

With an estimated queue of 223 vessels at coal ports on the eastern seaboard this week, the hard coking coal spot price is around $US230 a tonne, according to a Goldman Sachs trading report.

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