Subic Bay coal transshipment operation not as efficient as hoped

CVRD has been experiencing problems with the hub operation that it has established at Subic Bay in the Philippines. Each of the Valemax vessels has reportedly been delayed by up to 30 days at the port due to the erratic scheduling of shuttle carriers. Discharge rates have also not lived up to expectations. The company believes that the transshipment operation is costing around six dollars per tonne extra, but once additional costs are added in the operation may be up to 50% more expensive than direct shipments.