Port of Melbourne's Mixed Fortunes in 2012-2013

MarineLink.com
Monday, September 30, 2013
Photo courtesy of PoMC

The Australian Port of Melbourne (PoMC) showed a strong balance sheet as it advances the Port Capacity Project and other port infrastructure, Minister for Ports David Hodgett announced before the State of Vicoria Parliament.

Finance & trade summary 2012-13

  • $65.9 million operating profit after tax
  • $56.8 million capital expenditure, including work on the Port Capacity Project
  • Total trade of 85.6 million revenue tonnes (down 1.6 per cent)
  • Total container throughput of 2.51 million TEU (down 2.6 per cent) 370,527 new motor vehicles handled (up 3.6 per cent)
  • Total dry bulk trade of 4.4 million revenue tonnes (up 4.4 per cent) Total liquid bulk trade of 6.5 million revenue tonnes (up 2.6 per cent)

PoMC recorded an overall profit after tax of $65.9 million for 2012-13 against the background of a small decline in overall trade of 1.6 per cent on the previous year.

Detailing the full year trade results, Mr Hodgett explained that while total container volumes declined marginally from last year’s record peaks, new motor vehicles, dry bulk and liquid trades all recorded solid growth.

“After growth in container throughput approached 8 per cent in 2011-12, the Port of Melbourne handled a total of 2.51 million twenty-foot equivalent units (TEUs) in the year to 30 June 2013, representing a modest decrease of 2.6 per cent,” Mr Hodgett said.

“While container import volumes fell in soft retail conditions, full overseas export containers recorded an increase of 0.6 per cent despite the high Australian dollar.”

The Port of Melbourne also retained its leadership position as the premier automotive terminal in Australia handling over 370,000 units in 2012-13, up 3.6 per cent on the previous year.

“PoMC has backed up a strong financial and trade result with capital expenditure totalling $56.8 million including work on the Port Capacity Project, extensive wharf rehabilitation at Appleton Dock, together with a major redevelopment of the Port Operations Control Centre,” Mr Hodgett said.

There were 55 cruise ship visits during 2012-13, bringing around 180,000 passengers and crew to Station Pier which is now busier than at any time in its history in terms of visitor numbers.
Around 70 cruise ship visits are currently scheduled to call at Station Pier for the 2013-14 season which will begin next month.

 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Italian Pleads Guilty to Marine-hose Price-fixing in US

A former executive of Parker ITR Srl pleaded guilty on Thursday to conspiring to rig bids for marine hose and was sentenced to two years in prison, the U.S. Justice Department said on Thursday.

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Ports

Petroecuador Tenders to Buy High Octane Naphtha

State-run Petroecuador has launched two tenders to buy a total of 22 cargoes, 240,000 barrels each, of high octane naphtha RON 87 and 93 for delivery starting on May 21-23,

DP World in Talks With Banks for $3b Loan

Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate,

Hong Kong Receive BMT Maritime Strategic Study

BMT Asia Pacific (BMT), a subsidiary of BMT Group Ltd, says it has completed a major strategic study - “Enhancing Hong Kong’s Position as an International Maritime Centre (IMC)”,

Finance

Diamond Offshore Shares on the Rise

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices,

Ecochlor Raises $10m for BWT Maket

Ecochlor, Inc. announced that it has completed a $10 million equity financing to support its growth into the burgeoning ballast water treatment market. Since its formation in 2001,

Offshore O&G: Cuts, Delays in Norway as Costs Soar

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off,

Logistics

Imperial: Decision on Canadian LNG Project Distant

Imperial Oil Ltd said on Thursday it is not yet close to deciding on whether it will go ahead with a Canadian liquefied natural gas export plant it is exploring

No Lift for Konecranes as Q1 2014 Profit Slips

Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March 2014 operating profit,

GAO: Limited Commercial Arctic Development Foreseen

Decreasing seasonal sea ice has opened up Arctic waters for longer periods with resulting potential economic opportunities in commercial shipping, cruises, commercial fishing, oil, and mining.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3605 sec (3 req/sec)