Asciano extends Centennial Coal contract

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Sep 2010

Asciano Group has secured a 10 year coal haulage contract with Centennial Coal worth about $550 million. The contract is a renewal contract for Asciano subsidiary Pacific National to haul 4.5 million tonnes of coal from Centennial's mines in the Southern and Western Coalfields regions of NSW.

"Centennial Coal is a long term customer of Pacific National and has solid growth prospects ahead," Asciano chief executive Mark Rowsthorn said in a statement on Thursday.
"We look forward to growing our partnership with Centennial and continuing to deliver superior quality of services for the long term."
In addition to the Centennial Coal contract, Asciano recently signed three long term, take or pay contracts with Austar, Integra Coal and Muswellbrook Coal Company.
The contracts were also renewals of existing contracts, and would generate over $275 million of combined revenue.
Asciano also said that Whitehaven Coal and Idemitsu Boggabri had triggered an option for an additional train of capacity each under their existing agreements.
The two train sets would commence operations in the fourth quarter of calendar 2011.

Source: AAP