Whitehaven Coal (ASX:WHC) suspends shiploading at the Port of Newcastle

Whitehaven Coal (ASX:WHC) reports that Newcastle Coal Infrastructure Group has suspended shiploading at the Port of Newcastle after a structural assessment of its shiploader identified faults.

Storm-related damage to its other shiploader in November 2020 is expected to return to operation in Q4 CY21.

Since November 2020 Whitehaven has been redirecting ships across to Port Waratah Coal Services where possible.

Current weather-related port restrictions mean there is a backlog of 40 ships waiting at the Port of Newcastle.

The company has cut its sales guidance for the 2021 financial year, expecting managed coal sales to be between 18.5 million and 19 million tonnes, down from between 19 million and 20 million tonnes.

Shares in Whitehaven Coal (ASX:WHC) are trading 0.9 per cent higher at $1.77.
 
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Source: Finance News Network