Rising Tide paints "TAX ME" on coal ship named 'CLIMATE RESPECT' demanding tax on coal export profits
25 March 2026
This morning in Newcastle, members of climate justice group Rising Tide painted, "TAX ME ♡", on a coal ship in chalk, to call on the federal government to introduce a 78% coal export profits tax to fund a community and industrial transition.
The coal ship, named "CLIMATE RESPECT" was being loaded at port when it was painted. This is the second time Rising Tide has painted a coal ship, the first saw the group paint “TAX ME” on a coal ship named “CLIMATE JUSTICE” in October of 2025.
New research by Bloomberg Intelligence found that the Iran conflict has already boosted the Newcastle coal price by 13% as higher Liquid Natural Gas (LNG) prices accelerate fuel switching by Asian power utilities. Analysis suggests that this may result in significant windfall profits for major coal companies like Glencore and Yancoal.
Today’s action comes just days after Prime Minister Albanese’s Department asked Treasury to model "new levy options" to tax windfall gas and thermal coal company profits. Over the last few weeks there has been growing pressure on the Albanese Government to introduce a windfall tax on gas profits from the Australian Council of Trade Unions (ACTU), economists, the Greens and independents including David Pocock and Allegra Spender.
Australia is the largest exporter of coal pollution in the world, and the Newcastle Coal Port is the largest in the world. Rising Tide's call for a 78% tax on coal export profits is informed by Norway which has been taxing profits of its oil and gas sector at 78% since 1996 which raises over a trillion dollars for its sovereign wealth fund.
Rising Tide spokesperson and Maitland resident Lindsay Dean said: “We are stunned at the irony in naming a coal ship ‘Climate Respect’ when the burning of coal is the number one driver of dangerous climate change. Real climate respect looks like rapidly phasing out coal, and taxing coal corporations to raise the billions of dollars required to support coal workers and communities transition to secure, sustainable industries and jobs.
“As the current war escalation causes everyday Australians to struggle with through-the-roof petrol prices, coal and gas companies are reaping record profits. That’s not fair to the Australian people and it’s time the Government starts making these greedy corporations pay their fair share in tax.
“We hope that the Albanese Government puts their money where their mouth is and introduces a windfall tax on the gas companies profiting off war, and this needs to be extended to include our coal exports who are also profiting at the expense of everyday Australians.
“NSW coal royalties are only 8-10%, and whilst 60% of NSW coal royalties are generated from the Hunter, less than 2% of those royalties come back to the region to fund support for workers during the transition away from coal. This is an outrage.”
Photos and videos can be found here.
Photos can be purchased from Dean Sewell at dsewell@oculi.com.au
