Port of Brisbane continues growth

News Story
- 24 Nov 2005 ( #236 ) - BRISBANE, Australia
2 min read
The Port of Brisbane Corporation continues its growth with a record 26 million tonnes traded for 2004-05 and total revenue up almost 20 per cent to AUD140.9 million (USD104.0 million).

Corporation chief executive Jeff Coleman said strong growth in revenue was mainly due to a AUD7.7 million (USD5.7 million) increase in trade revenue, growth in rental income of AUD1.2 million (USD885,961) and a AUD5.4 million (USD4.0 million) increase in returns associated with its investment in Brisbane Airport Corporation Holdings.

Brisbane's share of the east coast container trade market increased for the 10th consecutive year, reaching 18.1 per cent compared with 17.6 per cent in 2003-04.

"Container trade rose 13.5 per cent to reach 726,145 TEUs (twenty-foot equivalent units)," Coleman said.

Imported motor vehicle trade increased 13.2 per cent, or a total of 180,072 vehicles.
Coleman said Brisbane's market share of east coast car imports increased 1.7 per cent to 26.3 per cent in 2004-05.

Total imports were up 536,263 tonnes or 3.8 per cent on 2003-04. Imports of cement and other building-related products, such as timber and steel, accounted for nearly half the growth.

Exports increased 402,287 tonnes or 3.7 per cent.

"Exports of chemicals, fertilisers, cereals, cotton and cottonseed rose significantly during the year. This is due largely to the agricultural industry's partial recovery from drought," Coleman said.

A key challenge for the corporation in 2006 would be to meet infrastructure demand to keep pace with booming trade and steady demand for land.

He said 2005-06 would be one of the most significant years in the port's history, with strong growth in container traffic, and similar trends in general cargo and motor-vehicle trade driving the port's ongoing expansion.

"The construction of a 10th wharf is due to begin in early 2006. Works associated with the relocation of key port facilities from Hamilton are expected to be completed within the next 12 months," Coleman said.
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