State’s port take triples
Imports to the port increased 2 per cent on the back of big increases in sulphuric acid (78 per cent), copper anode (33 per cent) and zinc concentrates (29 per cent).
Imports of nickel ore, the largest import item, were static at 3.95 million tonnes.
The port’s directors recommended payment of a final dividend of 80 per cent of adjusted profits after consultation with shareholder mi timberland nisters Treasurer Tim Nicholls and Transport Minister Scott Emerson.
In the report, chairman Ross Dunning and a timberland cting CEO Ranee Crosby do not refer to the increased dividend but do reflect on the proposals to timberland sell the port as “exciting”.
“The recommendations contained in the Independent Commission of Audit’s Final Report and the Queensland Government’s response, outline an exciting context for future investment and growth of our ports,” they say.
Ms Crosby said the corporation remained in a strong financial position despite the drop in exports.
“We have a policy to return to shareholders, over time, a dividend reflective of their investment in the business,” Ms Crosby said.
“The slight reduction in trade through our ports in 2012 2013 is a solid result given the macroeconomic conditions of the time, and the corporation remains in a strong financial position with low debt and healthy cash flows.”
The report says the trade result was achieved despite softness in global commodity markets, the high Australian dollar and the temporary closure of berths 8 and 10 for upgrade wor timberland ks.