BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

Written on the 8 December 2016

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR
COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, which broke in a storm on 13 November.

Ships have not been able to retrieve coal from Queensland Bulk Handling (QBH) since the incident and New Hope will now work with its customers to recover the shipping backlog.

QBH's insurer will cover the loss and costs associated with the incident and the company does not expect it to have a material impact upon its fully year results.

CEO and Managing Director, Shane Stephan says, "The recovery from this unprecedented weather event demonstrates the high level of skill of our in-house engineering and management teams."

"Importantly, no injuries resulted from the storm event or from the recovery work. We expect that shippers will be able to recover delayed cargoes over the coming six months."

New Hope Corporation is trading up 2.96 per cent at $1.755 per share this afternoon.
 

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