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The Port of Townsville’s 2018/19 Annual Report has been released, showing an increase in trade and a net profit of $15.96 million.
Growth was driven by a sizeable increase in mineral concentrate and refined metal exports in addition to a significant increase in live cattle exports.
Trade throughput totalled 7,682,743 tonnes – an increase of 4.7 per cent on the previous financial year.
This included 7,035,058 tonnes through the Port of Townsville and 647,685 tonnes through the Port of Lucinda.
Mineral concentrate exports increased by 33 per cent compared to 2017-18, with an additional 333,098 tonnes exported from Port of Townsville, whilst refined copper exports increased by 27 per cent, amounting to an extra 51,460 tonnes of export compared to the previous financial year.
The report also notes a modest increase in the export of zinc ferrites.
Glencore’s Lady Loretta Mine is ramping up to full production driving strong results in this sector.
Imports in fertiliser and solar project cargo decreased this financial year. However the increase in containerised exports of lead, timber and copper cathode provided a balance in total throughput of containerised trade.
Infrastructure projects announced supporting the Townsville economy included the construction of the $30 million crane and cargo terminal project on Berth 4, the $48 million common-user rail freight terminal and preliminary works for the $193 million Channel Upgrade project.
This article first appeared on www.northernstevedoring.com.au
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