Port of Brisbane continues to grow

Issued by Minister for Transport and Minister for Main Roads

6 August 2003

Record growth at the Port of Brisbane last financial year will generate hundreds of new jobs, Transport and Main Roads Minister Steve Bredhauer said.

Mr Bredhauer said unprecedented trade activity at the port in 2002-03 put it on track to contribute about $870 million to Queensland's economy by 2005.

"That translates into jobs," he said.

"Container trade was up 18.4%, the highest level of growth since the port achieved a 21% jump three years ago.

"Such growth in container traffic is expected to generate up to 250 extra jobs a year at the port.

"The port achieved this result despite the drought, which shows its strength."

Strong retail and building sectors were partly behind the increase in throughput at the port to a record 24.6 million tonnes. More oil shipments and record coal exports also contributed.

"This result is particularly encouraging because the port's underlying trade portfolio was more than enough to match the effect of drought in its feeder regions such as the agricultural hinterland and Darling Downs-Maranoa," Mr Bredhauer said.

"Import trade increased for the first time since 1999-2000 with a rise of 13.6% to 13.7 million tonnes.

"Outgoing trade was down for the first time since 1997-98 because of a decline in grain exports, which are at their lowest level since 1994-95, but the fundamental operations of the port are obviously holding up well.

"That growth despite one of the worse droughts we've ever seen vindicates the corporation's strategy to become more engaged in multi-modal logistics.

"It has helped the Port of Brisbane to grow to be one of the top three container ports in Australia with one of the biggest capital city port tonnages in the nation."

About $147 million has been set aside this financial year to further develop the port's world-class facilities.