Container trade falls for first time in 25 years at Port of Brisbane, but profits still increase
November 2, 2009
The Port of Brisbane (POB) has announced a decrease in container trade at the facility for the first time in 25 years, blaming the fall on a decrease in retail expenditure due to the global financial crisis.
The port’s total container trade of 896,199 twenty foot equivalent units (TEUs) was down 4.9 percent compared to last year’s figures.
Despite the fall, profits and revenue grew by 5.6 percent due to strong performances in agricultural and coal exports as well as the company’s sale of shares in Brisbane Airport Corporation Holdings (BACH).
Staff numbers at the port were also on the up over the past year, rising 15 percent from 337 to 387 in 2009 mainly due to recruiting in operations as well as security and hospitality.
The port says while it is not immune from the effects of the economic downturn, it remains positive going into the new year given the diversity of its operations and trade.