Port of Melbourne profit increase despite decrease in volume

Port of Melbourne Corporation recorded an overall profit $65.9 million for 2012-13 despite a small drop in trade of 1.6 per cent on the previous year.

Port of Melbourne Corporation’s (PoMC’s) 2012-13 Annual Report, tabled in the Victorian Parliament this week, showed that while container volumes declined slightly from last year’s record peaks, new motor vehicles, dry bulk and liquid trades all recorded growth.

The port handled a total of 2.51 million TEUs in the year to June 30, 2013, signalling a decrease of 2.6 per cent.

Container import volumes also fell due to soft retail conditions, however full overseas export containers recorded a modest increase of 0.6 per cent.

The Port of Melbourne handled over 370,000 new motor vehicles in 2012-13, up 3.6 per cent on the previous year.

Victoria’s Minister for Ports David Hodgett told parliament the port was in a strong position.

“PoMC has backed up a strong financial position and trade result with capital expenditure totalling $56.8 million including work on the Port Capacity Project, extensive wharf rehabilitation at Appleton Dock, together with a major redevelopment of the Port Operations Control Centre,” he said.

Trade summary:

  • Total trade of 85.6 million revenue tonnes (down 1.6 per cent).
  • Total container throughput of 2.51 million TEU (down 2.6 per cent).
  • 370,527 new motor vehicles handled (up 3.6 per cent).
  • Total dry bulk trade of 4.4 million revenue tonnes (up 4.4 per cent).
  • Total liquid bulk trade of 6.5 million revenue tonnes (up 2.6 per cent).

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