Exports hit 3-year high at Hay Point Coal Terminal
HAY Point Coal Terminal has recorded its highest export figure in more than three years as companies go into overdrive in an attempt to offset falling commodity prices.
More than 4.1 million tonnes of coal was pushed through the BHP Mitsubishi Alliance-owned terminal in June, a figure Queensland Resources Council chief executive Michael Roche said was testing the facility's capabilities.
"In the June quarter in Gladstone, Abbot Point, Hay Point and Dalrymple Bay ... all exports were up strongly on this time last year," Mr Roche said.
During the same period last year, Hay Point Coal Terminal exported just over 2.6 million tonnes of coal.
At full capacity it can churn through 6000 tonnes an hour.
Mr Roche said increased export volume showed companies were moving in the right direction to maintain profitability.
"Companies know the way to make money at the moment is through volume because they're not going to make money through fat prices," he said.
"So that's got to be good for confidence of the industry and good for the workforce."
According to the Reserve Bank of Australia, the commodity price index fell 10.5% during the past year, due mainly to declines in the prices of coking coal, iron ore, thermal coal and gold.
Mr Roche said the high export volume was evidence BMA had "got on top of its cost structure".
But he said not all companies were in the same situation.
"We have ... some mines that have got on top of their cost structures and ... established a profit margin," he said.
"There are other mines that are yet to establish that margin of profit ... and there are mines and parts of mines that may well not get into profitability in this current environment."
Hay Point Coal Terminal is owned by BHP Billiton Mitsubishi Alliance, while Dalrymple Bay Coal Terminal, also at Hay Point, is leased from the State Government by DBCT Management Pty Ltd.
Is the resource sector beginning to improve?
This poll ended on 15 July 2013.
This is not a scientific poll. The results reflect only the opinions of those who chose to participate.