AusRAIL, Market Sectors

Box growth justifies Brisbane third stevedore decision: Harrison

<p>Hutchison Port Holdings Limited (HPH) has agreed with the Queensland Government on a lease arrangement for two new container berths at Fisherman Islands.</p> <p>The Port of Brisbane Corporation would invest more than $530m over five years in berths 11 and 12 and associated terminals, while HPH would invest more than $200m in the facility, Port of Brisbane Corporation chairman David Harrison said.</p> <p>&#8220We’ve had compounding container trade growth of 12.2% over the last decade, and our forecasts predict that we will break the 2m teu mark by 2015,&#8221 he said.</p> <p>&#8220We believe this is ample justification for a new entrant to the stevedoring market in Brisbane, and for sustained investment in new, world-class facilities.&#8221</p> <p>The investment would increase Brisbane’s container-handling facility by 25%, premier Anna Bligh said.</p> <p>&#8220The Port of Brisbane is Australia’s fastest-growing container port and having a global player like HPH come on board is a significant achievement,&#8221 she said.</p> <p>HPH group managing director John Meredith said HPH was pleased to have the opportunity to invest, develop and operate the two new berths at the Port of Brisbane. </p> <p>"As Australia’s third-busiest container port, the Port of Brisbane plays an important role in facilitating the increasing trade activities between Australia and Asia, particularly China," Mr Meredith said. </p> <p>Construction has begun, with berth 11 expected to be operational by 2012 and berth 12 in 2014.</p> <br />