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A recent court victory is tipped to generate a healthy revenue boost for rail freight operator Aurizon, with a one-off "catch-up" payment of about $60 million forecast, followed by higher ongoing payments from customers.
Aurizon launched legal action against a number of coal companies in 2016 including Glencore, alleging they were not paying agreed fees for using its rail network for the transport of coal from Queensland mines to an export terminal at Gladstone.
Aurizon has had a court victory over coal companies using its rail network.CREDITHOTO: PETER MORRIS
Aurizon, the country's largest rail freight operator, is now assessing the Queensland Supreme Court decision and the financial benefits expected from it.
But in a new note to clients, analysts from Morgans have produced their own forecasts of the financial ramifications for Aurizon, the operator of the country's largest export coal rail network.
"Based on our crude estimates, we think Aurizon may be able to book about $60 million of one-off catch-up revenue in fiscal 2019 (for the fiscal 2016-19 period) and about $18 million per annum of ongoing revenues," the analysts wrote.
Another analyst, Morningstar's Adrian Atkins, said "while not huge" the extra revenue was a positive for the rail freight operator.
In 2011 Aurizon agreed to undertake a major upgrade of its Central Queensland Coal Network, in order to boost capacity and increase the amount of coal that could be transported from coal mines by rail to the Wiggins Island Coal Export Terminal (known as WICET).
This article first appeared on www.smh.com.au
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