NORTH Queensland Bulk Ports Corporation (NQBP) has delivered strong financial results in 2018/19, while continuing to lead ground-breaking environmental research, develop new trade opportunities and administer a busy community support program.
With a focus on cost management and trade diversification, NQBP recorded a Net Profit after Tax of $15.8 million, announced in its annual report, tabled in Queensland Parliament yesterday.
The total dividend NQBP returned to the State of Queensland via its shareholders was $9.9 million.
Total throughput facilitated through NQBP’s ports was 177.5 million tonnes via the ports of Hay Point (118.32 million), Abbot Point (28.9 million), Weipa (27.34 million) and Mackay (2.91 million).
NQBP Chief Executive Officer Nicolas Fertin said the NQBP team was continuing to drive a strong business performance, while remaining committed to their own safety and the safety of others.
“The safety of our employees, contractors, port users and members of the public remains our daily priority,” Mr Fertin said.
Mr Fertin said the NQBP had also demonstrated its dedication to operating alongside customers, communities and the environment throughout the year.
With three ports in the Great Barrier Reef World Heritage Area, NQBP has maintained a strong focus on environmental research and innovation.
“Minimising the environmental impact of our operations and stewardship of the Great Barrier Reef World Heritage Area is core to how we do business,” he said.
“We undertake a range of long-term environmental monitoring at each of our ports and during the year we launched our second online environmental dashboard, which shares data from our seagrass monitoring and complements the air quality dashboard launched the previous year.”
Mr Fertin said the recent national recognition of NQBP and James Cook University’s integrated marine monitoring program was a testament to the breakthrough environmental work.
NQBP’s innovative research to sustainably manage sediment from dredging culminated in two substantial achievements in 2018/19 with essential dredging completed at both the Port of Weipa and the Port of Hay Point.
At the Port of Hay Point, NQBP successfully obtained dredging permits from the Great Barrier Reef Marine Park Authority, which carried conditions to ensure the protection of the marine environment within the World Heritage Area.
“The works completed at the Port of Hay Point in May was the first time dredging had taken place in 10 years. During the program, water clarity was kept within natural ranges and there were no affects to turbidity levels,” Mr Fertin said.
“Additionally, we’re proud of the success of the dredging completed at the Port of Weipa in mid-July 2019 completed under additional environmental control measures, innovative commercial solutions and contractual arrangements.”
Mr Fertin said NQBP’s business activities continued to support regional economic growth in 2018/19 through direct and indirect employment and the facilitation of trade movements worth $40 billion.
A dedicated strategy to attract new breakbulk trade to the Port of Mackay, coupled with $9.8m investments in port infrastructure, came to fruition in July 2018 when the first ever roll-on roll-off (RORO) vessel was welcomed into port.
Since then, a total of 10 Roll-on Roll off vessels in total (four in the 2019-20 financial year) have loaded and unloaded mining and agriculture equipment at Mackay destined for Central Queensland.
NQBP is continuing to invest in quarantine infrastructure to support more mining-related breakbulk trade at the Port of Mackay.
“Our four ports are essential connections between our regions and the world,” Mr Fertin said.
“We will continue to work with stakeholders, customers and communities to ensure our ports continue to support regional growth and deliver value for our ultimate shareholders, the people of Queensland.”
In 2018/19, NQPB provided more than $200,000 in financial support to 40 community organisations, events and initiatives that benefit the wider community. NQBP has continued its partnership with the North Queensland Cowboys, providing the opportunity for more than 2,000 children to meet their rugby leagues heroes.
Download a copy of the 2018-19 annual report.
North Queensland Bulk Ports Corporation contact:
Tom Davis | Communications Advisor
07 3011 7972 | email@example.com