Sydney Ports achieves modest throughput growth

Sydney Ports Corporation achieved modest container volumes growth of 1% in the 12 months ended June 2012 on an annual basis to 2.04m teu at Port Botany, Seatrade Asia online reports.

The box throughput at Port Botany has been growing at a compound annual rate of around 7.4% since the mid 1990s, according to Grant Gilfillan, ceo of Sydney Ports.

“Our ports now handle more than A$60bn ($62.7m) of trade every year, contribute A$2.5bn to the New South Wales economy and generate 17,000 jobs – and the path to continued growth is assured when the A$1bn Port Botany expansion comes on line after being tenanted by Hutchison Port Holdings, the third terminal operator,” Gilfillan said.

“On the back of record container throughput, Sydney Ports has achieved a strong financial result with total revenue increasing by 8% to A$276.5m for the 2011/12 financial year.”