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Port revenue up despite impact of flood on coal exports

GLADSTONE'S two big public-owned utilities have tabled their annual reports in parliament, revealing the effect the floods have had for better and worse.

While the cash flows from the Gladstone Area Water Board show the State Government will be reaping more than $4 million in dividends, the Gladstone Ports Corporation took a hit from the impact the floods had on coal export.

However, January's floods led to record inflows into Lake Awoonga, bringing the capacity to 193%.

The floods did cause problems with the quality of water, but the water board had procedures to deal with the higher turbidity.

The water board received revenue of $54 million, while $4.7 million went to the State Government in dividends.

From the ports' total revenues, shareholders were delivered a dividend of $57.4 million - an increase of $10 million.

GPC also achieved a 45.5% increase in alumina-related products throughput at Fisherman's Landing, and due to the opening of Rio's second stage of the Yarwun Refinery.

It was part of the overall record output of 85.2 mega tonnes of cargo handled in 2012/13 - an increase of 1.4 Mt on the previous financial year.

Topics:  flooding gladstone area water board gladstone ports corporation queensland government



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