Rising coal prices are giving Australia’s fly-in, fly-out (FIFO) sector a major boost. Civeo Corporation, a US camp operator, posted an 18 per cent jump in Australian profits and expects further gains as Queensland miners ramp up activity.
According to the Australian Financial Review, Civeo’s Australian division generated $US51.9 million ($74.1 million) in profit last year, offsetting losses in Canada and validating the company’s strategy of expanding its domestic camp footprint.
Civeo provided 2.78 million nights of accommodation in 2025 for Australian FIFO workers, who typically live on the coast but spend weeks at a time in remote camps near mine sites.
Queensland’s coking coal sector struggled in the year to July 2025 due to low prices, prompting some marginal producers to close mines. But prices have surged from $US172 a tonne in July 2025 to $US220 a tonne by March 2, according to S&P Global Platts.
Civeo chief executive officer Bradley Dodson told AFR the price rebound would support stronger activity in Queensland.
“If [coal] prices remain above $US200 a tonne through the upcoming producer budgeting season we can see improved activity levels in the back half of the year,” he told investors in the US.