Asciano’s division, Pacific National Coal has signed a new rail haulage agreement with Whitehaven Coal Mining, effective from January 2014.
Under the terms of the new agreement, Pacific National Coal will receive the certainty required to commit to the more efficient fleet configuration. Scheduled to expire in June 2026, the agreement provides for a more efficient train fleet configuration in readiness for full 30 ton axle load operations, planned to commence during 2015.
The accord will also replace the previous agreement between Pacific National Coal and Whitehaven, while the volume is unchanged at 9.5mt pa under the current 25 ton axle load conditions, and increases to 11.5mt pa following the introduction of 30 ton axle load conditions.
Pacific National Coal director David Irwin said that the company has materially extended the duration of NSW contracted portfolio while continuing to meet internal return targets.
"We are pleased to have worked constructively with Whitehaven to create this 'win/win' agreement and look forward to delivering Whitehaven improved efficiency, higher levels of service and reduced per tonne haulage costs," Irwin added.