06 Oct Gladstone overtakes Hay Point to become Qld’s largest port
Gladstone Ports Corporation (GPC) has released its 2016/17 Annual Report, showcasing record throughput tonnages, strong revenue and solid profitability and a greatly improved safety record.
GPC’s three ports, Bundaberg, Gladstone and Rockhampton handled a record 121.2 million tonne (Mt) of cargo, 4.5 million tonnes higher than the 2015-16 financial year.
The Port of Gladstone handled an impressive 120.4Mt to surpass Hay Point as Queensland’s largest port.
Key trade performance was again dominated by coal (69Mt), aluminium trade volumes (26Mt) and LNG exports (19.4Mt).
GPC Chairman, Leo Zussino said that despite the detrimental impact on trade of ex-tropical Cyclone Debbie which caused port closures at both Rockhampton and Gladstone and disruption to production at several coal mines GPC had a very successful year.
Total revenue for the year was $470.9 million and earnings before interest and tax were $134.8 million.
GPC’s lost time injury rate plummeted from 7.8 to 0.8.
“In addition to trade growth and strong financial and safety performance, GPC continued to invest heavily in our local communities with 39 sponsorships and donations, at a value of approximately $270,000, made during 2016/17,” he said.
“GPC will continue to focus on diversifying trade opportunities at the three port precincts to help stimulate job opportunities in our Region and trade growth through our Ports.” GPC’s 2016/17 Annual Report is available now on the corporation’s website, www.gpcl.com.au