Port CEO hails big year at key facility
A NET profit of $ 15.1 million is set to flow back into government coffers from the state- owned Port of Townsville as the city’s key infrastructure asset reports a steady year of trade underpinned by records set for handling containers and cars.
Among other highlights for 2017- 18 were the first shipment of live cattle from Northern Australia to China and a record year for visits by cruise ships.
Overall trade volumes remained steady at 7.3 million tonnes, a 0.18 per cent decrease on the previous year.
Port CEO Ranee Crosby said the year was full of major achievements, setting the region for future prosperity.
“This year was a significant one for us, reaching historic milestones in a number of new sectors, completing the $ 40 million Berth 4 upgrade, and securing the green light for our $ 1.6 billion 30- year development plan to secure North Queensland’s future growth,” Ms Crosby said.
“The $ 193 million Channel Capacity Upgrade Project is now set to go and will be the largest infrastructure investment in our history.
“These infrastructure projects not only support local jobs but importantly they strengthen the economic future of our ports and the regions that we serve for decades to come.
“The long- term outlook for trade is a story of growth and our team are working hard to ensure we will be ready to handle the increased volumes. The port handled a record- breaking 75,827 TEUs ( Twenty- foot Equivalent Units), up 47 per cent on 2016- 17 and the highest container throughput since 2014- 15.
The increase was largely powered by imports of materials for solar and wind farm projects.
Motor vehicle imports also hit a record high of 17,659, a 20 per cent increase.
Ms Crosby said the records for containers and vehicles were a good indicator that “things are improving” for the wider economy.
New agricultural trades were handled, including the first live cattle exports from Northern Australia to China and new refrigerated exports including mangoes to Hong Kong, South Korea and China.
The port had a record cruise shipping year, receiving 12 ships with around 13,000 passengers and crew. The first partial cruise ship turnaround and 15 more cruise ship bookings have been received for 2018- 19.
Also, the Australian, New Zealand and United States defence forces visited the port with a combined total of 24 vessels.
Ms Crosby said it was a big year in securing infrastructure development including obtaining environmental approvals for the $ 1.6 billion Port Expansion Project after seven years in planning.
She said a recent commitment by the Federal Government to contribute $ 75 million towards the $ 193 million Channel Capacity Upgrade meant that project was now in progress. The first rock to develop some 60ha of additional reclaim area would start being delivered to the port from next month.