There was plenty happening in the transport and logistics sector in 2024. From mergers to collapses, roadworks to regulation changes, and everything in between, the landscape of the wider sector has irrecoverably changed through everything that’s happened this past 12 months.
Over ATN’s countless stories for the year, some stood above the rest in terms of interest, importance and engagement. These are some of the year’s top stories.
Toll Group purchases Rex subsidiary
The demise and eventual government bail-out of Rex Group has been one of the largest stories to hit the Australian media landscape – not just the transport and aviation sectors – in 2024.
Rex is crucial for regional communities to stay connected with wider transport and logistics operations, health services, and each other, and the fall of the regional air carrier spelled trouble for all those who rely on it from both a business and personal standpoint.
As part of its attempts to return to standing on its own two feet, Rex Group sold a ringfenced portion of its company wholly owned Toll Group subsidiary Helicorp Pty Ltd for an expected cash consideration of approximately $47.1 million dollars.
The sale of air ambulance provider Pel-Air will pay down some of Rex Group’s debts.
Click here for the full story.
Milthorpe Transport retires
One of Australia’s historic transport companies closed its doors mid-way through 2024, as the Milthorpe family announced it would close Milthorpe Transport after almost 40 years of operation.
The company was initially founded in 1988 by brothers Greg and Ray Milthorpe with just two trucks, and it bloomed into a successful family business that involved the next generation – Greg’s sons Steve, Rodney and Chris.
The retirement of Ray and then Greg sealed the decision for the company to shut up shop for good, with all the company’s assets falling under the auction hammer on May 27, 2024.
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Gympie Bypass opens
The ongoing Cooroy to Curra project had been a thorn in the side of south-east Queensland transport operators for the past 15 years. With the completion of the Gympie Bypass in October though, the wider project was finally complete.
The overall 15-year project cost a total of $2.5 billion, with the final cost of the bypass standing at over $1.6 billion.
The Gympie Bypass project involved the construction of a new 26-kilometre, four-lane divided highway between the existing Bruce Highway interchange at Woondum and Curra.
42 new bridges at 23 locations along with three new interchanges also had to be installed as part of the project.
The bypass allows motorists to avoid 53 intersections and 106 property accesses and, prior to opening, was projected to reduce heavy vehicle traffic volumes in Gympie by 50 per cent.
Click here for the full story.
Qube Logistics announces roro terminal acquisition
Qube Logistics strengthened its Victorian operations through the acquisition of the only dedicated roll-on, roll-off terminal servicing the Victorian market – the Melbourne International RoRo & Automotive Terminal.
The MIRRAT spans 35 hectares and features three berths, a 120-tonne gantry crane, 8000 sqm of undercover storage and two quarantine wash bays.
It cost Qube an estimated $332.5 million.
Prior to the finalised acquisition Qube was planning on rebranding the MIRRAT business to the AAT brand.
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Austrans announces new Chief Commercial Officer
12 months ago Austrans was in the midst of an executive reshuffle, and just weeks after announcing David Spink as the company’s new CEO at the end of December 2023, Lucas Marsters was welcomed as its new Chief Commercial Officer.
Marsters started his career in the port logistics industry in 2008 and previously held roles at ContainerChain, Norman Carriers and Malex Terminal Logistics.
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SingPost fully divests Australian business
The landscape of the Australian freight industry changed in early December when Singapore Post Limited sold the entirety of its Australian freight business holdings to Pacific Equity Partners for over $1 billion.
Freight Management Holdings, which operates efm Logistics, FLIP, CouriersPlease, Border Express, BagTrans, Niche Logistics, GKR Transport, Formby Logistics and Spectrum Transport Systems, returned to Australian hands with the sale to PEP, which currently manages assets worth $12 billion.
SingPost announced its intention to use some of the proceeds brought in by the sale to repay borrowings, particularly its Australian dollar denominated debt of $362.1 million.
The sale to PEP came following an extended and competitive international bidding process.
Click here for the full story.
Australian heavy vehicle mass limits increased
Huge changes were made to the Australian heavy vehicle mass limit regulations from the start of November 2024.
General access mass limits were increased by 500kg for trucks in Australia that comply with Euro VI or equivalent noxious emissions standards, with the change introduced on the same day as the government’s tighter noxious emissions standards for new trucks and buses.
Click here for the full story.
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