Bumper Year For Port Of Melbourne Container Movements

Bumper Year For Port Of Melbourne Container Movements

Victoria Minister for Ports Denis Napthine

Record Container Trade Underpins Solid Year For Port

Victor P Taffa

A 7% increase in container movements has capped off a record-breaking year for the Port of Melbourne which handled 2.39 Million 20-foot Twenty Foot Equivalent Units (TEUs), an average of about 6,500 containers per day.

Minister for Ports Denis Napthine said the figures, which were revealed in the Port of Melbourne of Melbourne Corporation (PoMC) annual report, represented a huge boost for the Victorian economy and supported thousands of Victorian jobs.

“The PoMC has reported a record-breaking year which also saw total trade rise by 5.8 % to 79.7 Million revenue tonnes.” Dr. Napthine said.

“The number of ships visiting the port also increased with more than 3,300 ships docking at Melbourne during the last financial year. The report also shows that overseas exports increased 11 % to 23.5 Million revenue tonnes while overseas imports increased 4.9 % to 33.6 Million revenue tonnes.

The port also made a significant contribution to the Victorian tourism sector with 36 cruise ships docking at Station Pier in 2010/11, including the Cunard vessel Queen Elizabeth.

“Overall this is a fantastic result for PoMC and for the Victorian people with the port directly supporting 13,700 jobs.” Dr. Napthine said.

The PoMC is a state-owned authority meaning a bumper year at the port translates to a positive result for Victorian taxpayers.

“This year PoMC recorded an after-tax operating profit of $39 Million which is $11.5 Million greater than the previous year.” Dr. Napthine said.

“As a tax-payer owned body, PoMC paid a $13.4 Million dividend to consolidated revenue. The remainder will be re-invested to further grow the port’s operations.”

Port of Melbourne Corporation Chairman Bill Scales AO congratulated port users for the successful year.

“I recognise the achievements of the port’s customers, cargo owners and port operators for their collective contribution towards setting another Australian container trade record of nearly 2.4 Million TEU.” Mr. Scales said.

Finance Summary 2010-11

  • $39 Million operating profit after tax
  • Revenue increase of $23.8 Million to $242.2 Million
  • $26 Million invested in capital projects

Trade Summary 2010-11

  • Total trade up 5.8 % to 79.7 Million revenue tonnes
  • Total container throughput up 7 % to 2.39 Million TEU
  • New motor vehicles down 4.7 % to 358,000 units.