Key Credit Fundamentals

Located close to the Bowen Basin, DBCT is ideally situated for coal handling and export. DBCT benefits from a deep-water port capable of further expansion and a shorter shipping time to overseas markets than southern competitors. It is ideally positioned to service existing and future customers. DBCT’s close location to the Bowen Basin also reduces rail haulage costs. With world-class innovative technology for automated coal stacking and reclaiming, DBCT continues to be one of the most reliable coal export ports in the world. DBCT operates 24 hours a day, 365 days a year.

1.  DBCT is Essential Infrastructure

  • Third largest coal export terminal in the world with 85 MTPA of export capacity
  • Handles approximately 20% of global seaborne metallurgical coal trade and 6% of total seaborne coal trade
  • Critical component in the Bowen Basin coal chain, as the Terminal is the closest exit point for coal travelling to port along the Goonyella rail system
  • Bowen Basin is the lowest-cost, major resource deposit for metallurgical coal servicing the wider Asian export market

2.  Highly Predictable Cash Flows

  • 100% take-or-pay contracts
  • Full socialisation and recovery of revenues – approved revenue is recovered over contracted tonnage, not terminal nameplate capacity
  • Revenue is independent of quantity and coal price
  • All operating and maintenance costs are 100% passed through as a recharge to customers – no regulatory approvals required

3.  Stable Regulatory Environment

  • Regulated by QCA since 2004
  • Stable and transparent regime

4.  Investment Grade Credit Ratings

  • BBB/stable with Standard & Poor’s
  • Baa3/stable with Moody’s
  • BBB-/stable with Fitch

5.  High Quality Customer Base

  • Customers include global diversified mining companies: BHP Mitsui, Anglo American, Peabody Energy and Glencore, who together hold over 80% of DBCT customer contracts
  • Strong history of contract renewals
  • Access queue for additional capacity

6.  Operating structure supports alignment of interests

  • Operator owned by majority of customers
  • Operating structure supports alignment of interests between owner, operator and customers

7.  Strong Ownership and Experienced Management

  • Experienced and long serving management team
  • Backed by Brookfield which has over US$350 billion of assets under management.