Tag: Aurizon

Rail operator Aurizon expects coal volumes on its network to grow by about 5 per cent this financial year after a slide in 2020/21.

COVID-19-related disruptions and China import restrictions saw the company's EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) in the coal business decrease by 13 per cent to $533 million in 2020/21 compared to the previous year.

But the group's overall EBITDA rose by 1 per cent to $1,482 million, Aurizon reported. Underlying Net Profit After Tax (NPAT) was $533 million, comparable to 2020/21 ($531 million).

The decline in. . .

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A man has died following a crash involving a loaded coal train and a light engine locomotive at Westwood, near Rockhampton.

The Queensland Police Service said Friday evening that Forensic Crash Unit investigations were continuing into the incident, which forced the closure of the Capicorn Highway for about two hours.

The incident occurred about 11.20am (June 18) when the locomotive, with three Queensland Rail drivers on board, and a coal train collided about 80km west of Rockhampton on the Aurizon network.

"Three workers were injured, including a 49-year-old Margate man who died at the scene," a QPS. . .

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Rail operator Aurizon is expecting Australian coal exports to grow over the next decade at a rate of about 1 per cent per annum despite difficulties with China.

Steel-intensive growth in India and prolonged coal-fired generation driven by relatively new power stations in Asia were expected to support that growth.

The outlook came in Aurizon's half-year financial reporting, which showed the hit that coal has taken recently.

The amount of coal shifted on Aurizon's Central Queensland Coal Network dropped by 4 per cent in the last half. . .

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Rail freight operator Aurizon has refinanced $1.3 billion in debt, adding an extra $420 million to its previous level, while reiterating its expected earnings for this financial year.

Managing director and chief executive officer Andrew Harding said operations across Aurizon's s coal, bulk and network businesses had continued with minimal disruptions during the COVID-19 pandemic.

“As an essential transport provider to the Australian economy we have provided safe, reliable services to our customers and continued to support regional communities where our people live and work,” he said

“While the COVID-19 pandemic has had some impact to. . .

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Aurizon Holdings has announced plans to exit its containerised rail and road-freight haulage business through a combination of closure and sale following a 12-month review.

The company has signed a binding agreement to sell its Queensland Intermodal business to a consortium of Linfox and Pacific National, while its intermodal business interstate will be closed.

“In making the decision to exit, we considered the significant financial losses that have been sustained year on year by Aurizon Intermodal,” managing director and chief executive officer Andrew Harding said.

“The business has not been able to establish significant scale and a customer. . .

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