Newsletter #386 (View other news stories)
Record results for Port of Brisbane
BRISBANE, Queensland, Australia
Thursday, 13 Nov 2008
 The Port of Brisbane has experienced 15 years of continuous growth in total trade. |
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The Port of Brisbane has experienced 15 years of continuous growth in total trade, according to the corporation’s annual report released last week.
Total trade reached a record 30.2 million tonnes, an increase of 7.7% for the year.
Chairman David Harrison says record world coal prices combined with strong infrastructure spending and rises in imported cement have led to the port’s highest increase in total trade in seven years.
"Queensland’s continued economic boom, and substantial population growth, has played a key role in this exceptional result."
Total imports recorded a rise of 6.3%, or 1 million tonnes, to reach 17.1 million tonnes.
Overall, exports increased by 9.6%, or 1.2 million tonnes, to reach 13.2 million tonnes, with coal achieving a record increase of 30.2% to reach 5.5 million tonnes. Cereal exports also rebounded from a major low last year, to achieve an increase of 33.2% to reach 474,429 tonnes.
Container trade increased by 7.7% (up 67,647 teus), to reach an all-time high of 942,716 teus.
"During the year, container trade growth slowed below the last decade’s average of 11.5%; however, given last years’ impressive growth of 14.2%, this is still an extremely positive result," says Harrison.
Both import and export container trade improved, with growth of 8.4% and 7.1%, respectively.
Growth in motor vehicle imports remained strong, increasing by 8.1% to reach 220,902 vehicles. This helped Brisbane to increase its share of the east-coast vehicle import market to 29.4%.
Chief executive officer Jeff Coleman says during 2007/2008, the port not only achieved strong trade results, but it also reached some important milestones on a number of major infrastructure projects, with a record capital expenditure programme of AUD179 million.
"We have now completed construction of our seventh dedicated container berth, Berth 10, and handed it over to Patrick Corporation for development of their AutoStrad terminal," he said.
"When the facility is completed in early 2009, a berth reallocation will occur, providing both Patrick and DP World with 900m of quayline each.
"Construction of our new General Purpose Berth is also due for completion in early 2009, and this will accommodate growth in bulk and break-bulk cargoes.
"Completion of these key projects, along with the construction of Berths 11 and 12 for Hutchison Port Holdings, will ensure the Port of Brisbane is well positioned to handle future increases in trade."
The corporation achieved record operating revenue of AUD330 million, plus revenue from the transfer of a 25% shareholding in Brisbane Airport Corporation Holdings (BACH) of AUD276 million, making total revenue of AUD606 million.
Operating earnings before interest and tax (excluding earnings from the transfer of shares in BACH) reached a record AUD232.2 million.
After-tax profit (including the profit from the transfer of shares in BACH) was AUD439 million, and dividends paid to shareholders totalled AUD205.7 million.
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