The Way Ahead Port of Brisbane Corporation Limited Annual Report 2009/2010 About this report
Scope Readership A GRI Content Index is included at The Port of Brisbane Corporation The report aims to provide accurate the back of this report to show how Limited (PBC) Annual Report information to meet the needs of our we have reported against the GRI G3 is a summary of our corporate stakeholders, that is, all individuals and Profile Disclosures and Performance performance during the 2009/2010 groups that are affected by, or have an Indicators. Net Balance has provided financial year.T he report covers interest in, our activities. a verification statement at the end of the report. both our financial and non-financial We have used our historical knowledge reporting in one volume. The and subsequent executive workshops For ease of reference we have accompanying CD contains our Annual to define our stakeholders. included a glossary of terms, a list Financial Report for the year ending of abbreviations and an index. 30 June 2010, and a PDF copy of the These include, but are not limited to: whole report. • shareholders/owners Privatisation – top material issue The report contains data from our • our employees As part of this year’s consultation internal systems, which was valid • importers and exporters with stakeholders, we have added as at 30 June 2010. In some cases, • port operators privatisation and its effects to our where there have been significant • freight forwarders materiality register. The sale of the developments after the close of the • commercial partners port has been addressed on a number reporting year, we have identified • government departments of levels throughout the report, these and included them to give the • shipping lines and agents including how we have engaged report more longevity. • transport companies with our port customers, community • the community representatives and employees. Content • the media. Materiality is a concept that looks The report outlines our operational, In light of the Queensland at determining and reporting on social, environmental, economic and Government’s Renewing Queensland those issues that stakeholders see financial performance against key Plan, which includes the privatisation as important, or of concern, to our business strategies, objectives and of the Port of Brisbane, we expect a operations. Our materiality register targets set out in the Corporate Plan new group of stakeholders will take currently contains 16 issues identified and Statement of Corporate Intent an interest in this report. by stakeholders during routine (SCI). It also looks at the challenges engagement activities. Besides ahead. Transparency in reporting privatisation, issues of concern include The seven key business strategies As part of our commitment to dredging, port access, environmental addressed in this report are to: transparent and material reporting of performance and port efficiency. our activities as a port manager, over • accelerate and plan for trade and the past four years we have obtained Progress on sustainability revenue growth assurance from an independent At PBC sustainability means • deliver on our infrastructure projects party on selected parts of our social, facilitating trade through our port • facilitate improved port access environment and economic reporting. facilities and logistics infrastructure • manage strategic investments and We have also used the Global to benefit the Queensland economy associated business activities Reporting Initiative Sustainability while protecting, sustaining and • drive port efficiency and Reporting Guidelines (GRI G3 enhancing the environment, the sustainability Guidelines) to help structure, report well-being of our people and the • develop a culture that supports and benchmark our non-financial community. We do this through people, their learning and growth performance reporting. sustainable business principles, in a changing environment risk-based processes and transparent Where relevant to our operations, • optimise financial returns governance practices throughout we use environmental, social and appropriate to the economic our business. conditions. economic GRI indicators to report on our performance. Other key We have continued to embed The report includes our corporate performance indicators are unique or sustainability into the operation of the governance – the systems by which the material to our business e.g. dredging, company, and this year developed a organisation is directed and managed water, sediment, and mangrove quality. set of corporate goals for the future. – and introduces the members of our In the coming year we will allocate key This year we made a decision, in light Board and Executive Team. performance indicators to these goals of the major changes required as part to provide a framework for reporting The Financial Review, and our of the sale of the company, to limit the on the company’s future operational, Statements of Comprehensive Income independent assurance of this report environmental, social, economic and Financial Position are available to a GRI level check and verification and financial performance. on pages 78-89. The Financial of our greenhouse gas and energy Review provides an annual and a systems and data. We engaged five-year overview of our key financial Net Balance to provide this service. objectives and targets. Our vision, mission and values
These goals are as follows: Our Vision Our Values Trade facilities and services: To be Australia’s leading port: to facilitate the growth and efficient Safety first here for the future. movement of trade through the port Safety will be our priority in by exemplary customer service and everything that we do. operational excellence. Our Mission Valuing people Infrastructure delivery and operation: to provide and manage To grow trade through the We will operate on the basis of port infrastructure to meet trade and port in a sustainable manner, teamwork, mutual trust, respect property demands by adopting leading which optimises stakeholder and integrity, while maximising and innovative modes of delivery satisfaction and shareholder opportunities for personal and operation. returns, by: and professional growth and development. Environmental leadership: to add • driving port efficiency value to the business by exceeding • promoting strategic Customer focused the environmental performance investments in a competitive We will act professionally, expectations of our port stakeholders. environment enthusiastically, and be motivated • adopting leading planning Our people: to empower our people to provide the highest levels of principles and management to reach their professional potential by customer service to both our systems ensuring their safety, health and well internal and external customers. being, and providing opportunities • wo rking cooperatively to for growth. ensure a safe and secure port Commercially astute environment Stakeholder engagement: to develop We will act commercially • pr oviding world-class and maintain a positive corporate by focusing on optimising infrastructure reputation by building relationships shareholder returns and • be having at all times in line with our stakeholders that foster managing our business risks. with our corporate values. mutual understanding and inform our decisions. Deliver on our promises Financial performance: to provide We are committed to achieving long-term financial value to the outcomes that we promise shareholders by optimising financial our stakeholders. returns and assessing risks and Sustainable outcomes opportunities. We consider the financial, Feedback options environmental and social impacts We are committed to open and of what we do, and commit accountable governance and to activities that benefit the welcome your feedback on our Queensland economy, our natural reporting. A feedback form for the environment and the wider report is located on page 103. community. You can also send your feedback Continuous improvement electronically through our website at http://www.portbris.com.au/ We will improve all aspects of contactus our activities, through innovation, learning, and sharing and This report, and past reports, can be management of knowledge. accessed on http://www.portbris. com.au/newsmedia/annualreport Hard copies can be requested from: Corporate Affairs Port of Brisbane Pty Ltd Locked Bag 1818 Port of Brisbane QLD 4178 Australia or telephone +61 7 3258 4734. Contents About this report ifC Describes the scope, boundaries and readership of this report. Our vision, mission and values IFC Our highlights 1 A snapshot of our financial, operational, social and environmental performance during 2009/2010. Our organisation 2 Our business, responsibilities, stakeholders, and structure, including an introduction to the Board of Directors and their committees, and the Executive Team. Privatisation milestones 3 A look at some of the most significant milestones associated with privatisation of the port during 2009/2010.
Chairman and CEO’s report 12 Our Chairman, David Harrison, and Chief Executive Officer, Jeff Coleman, discuss major achievements and key results for the year and strategies for the port’s future. Key corporate strategies 16 Our performance against seven core business strategies, objectives and targets as outlined in the Corporate Plan and Statement of Corporate Intent (SCI). Our operational performance 21 Our performance on operational aspects, including trade, port efficiency, and infrastructure and property development. Case study: Motor vehicles 27 Case study: Captain Bishop Bridge 31 Our social performance 37 Our performance that relates to our people, safety programs and community engagement. Case study: Innovation 43 Our environmental performance 49 Performance on our dredging and environmental monitoring projects, and on energy use and control of greenhouse gas emissions. Case study: Natural foreshore 53 Case study: New Port Office 59 Corporate governance 67 An overview of our corporate governance processes and performance for the year. Our economic and financial performance 77 The General Manager Finance and Business Services, Darryl Mutzelburg, outlines our economic impact, financial review and financial results for 2009/2010. Financial year in review 82 Financial performance 5-year analysis 84 Statement of comprehensive income 88 Statement of financial position 89 GRI content index 90 Independent Verification Statement 95 Index 96 Glossary and abbreviations 98 Port of Brisbane map 100 Contact us 102 Feedback form 103 Our financial reports (on CD) IBC Insert section title Port of Brisbane Corporation Limited Annual Report 2009/2010 1
Our highlights
Financial Result Target $’000 $’000 In the wake of tough global Total revenue 420,329 277,989 economic conditions, we achieved strong financial results due to solid EBIT 321,620 176,621 growth in trade, rental and services income, and the proceeds from Net profit 232,300 108,400 divested assets. See pages 78-79 Expenses 125,305 125,351
Return on assets 12.1% 6.4%
Operational People Environment
Container trade bounced back to We completed our internal Here for We are on track to reach our climate positive growth after last year’s the Future leadership development change commitments for fuel tough conditions, increasing 2.5% training for all non-managerial efficiency, recycling, and climate to reach 918,999 teus. See page 22 staff. See page 42 change resilience. See page 54 We made significant progress on We are currently piloting an internal We completed an inventory of the major port infrastructure projects, mentoring program to connect port’s landside emissions. including Berths 11 and 12, and the people with more experienced See page 61 Captain Bishop Bridge project. managers from across the We moved into our new Port Office See pages 27, 30-31 organisation. See page 42 – our third to be rated a 5 star We completed a range of non-core We addressed the material issue building for design by the Green asset upgrades and improvements, of privatisation for our employees Building Council of Australia, and before handing them over and stakeholders through the first in Australia to be awarded to government as part of the established communication under the version 3 criteria. Renewing Queensland Plan. channels. See pages 38 and 45 See page 59 See page 29 Six of our employees sustained We implemented a range of Lost Time Injuries (LTIs). We have initiatives to improve port efficiency redeveloped our workplace health and productivity. See pages 32-33 and safety strategy to change employees’ behaviour and continue to prioritise safety first. See page 40 2 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our organisation
Our organisation
The company has six Our organisational structure main divisions, which Queensland Community are responsible for Shareholding Ministers The Honourable Andrew Fraser MP, Treasurer and Minister for Employment ensuring that we meet and Economic Development our corporate objectives. The Honourable Rachel Nolan MP, Minister for Transport
A General Manager, Board of Directors who is also a member Chairman, David Harrison Deputy Chairman, Catherine Sinclair of our Executive Team, Loftus Harris AM leads each division. Susan Rix Professor Ted Brown AC Peter Lancaster Bill Guest
Board Committees
Audit and Risk Committee Susan Rix (Chairman) David Harrison Peter Lancaster
People and Culture Committee David Harrison (Chairman) Loftus Harris AM Susan Rix
Planning, Construction and Environment Committee Catherine Sinclair (Chairman) Professor Ted Brown AC Bill Guest
Privatisation Process Committee David Harrison (Chairman) Catherine Sinclair Loftus Harris AM Susan Rix
Executive Team Our organisation Port of Brisbane Corporation Limited Annual Report 2009/2010 3
Privatisation milestones
Executive Team 2 June 2009 Chief Executive Officer Announcement of the State Government’s Renewing GM Corporate Services Queensland Plan, which included the sale of a number of government assets, including the Port of Brisbane. Corporate Information People and Culture (Quality, People Services, Health and Safety) 1 November 2009 GM Port Operations Transfer of Port of Bundaberg to Gladstone Ports Port Operations Corporation Limited. Security Services
GM Finance and Business Services Information Technology 9 April 2010 Financial Operations Transfer of Northshore Hamilton land to the Urban Land Financial Management Development Authority (a number of port-related activities at Commercial Services Hamilton where there are existing leases in place remain the Business Development responsibility of the port manager until the leases expire). GM Port Development Strategy and Engineering Dredging and Channels 1 June 2010 Reclamation and Land Development Transfer of boat harbours at Manly, Scarborough, Cabbage Maintenance Tree Creek and moorings at Gardens Point to the Department Engineering and Construction of Transport and Main Roads. GM Planning, Environment, Community Transfer of City Reach land to the Department of Public Works. Environment Transfer of other non-port land holdings to Department of Planning Environment and Resource Management. Sustainable Business Public Relations Property Hospitality 1 July 2010 The Queensland Government restructures PBC to create Port GM Corporate Governance of Brisbane Pty Ltd (PBPL), a wholly owned subsidiary of PBC, Corporate Affairs to be the port manager, and lessee of port land, buildings, Risk Management infrastructure and other assets. Company Secretary PBC continues as the Port Authority for the Port of Brisbane.
Before December 2010 Shares in PBPL to be sold to private owners. Queensland Government to retain the land holdings of the port, infrastructure and certain powers (that will be delegated to PBPL as the port manager). 4 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our organisation
The success of our Who we are Upon the sale of the port, the port At the time of this reporting period lessee (PBPL) will enter into a business, and the port, (up to 30 June 2010), the business 99-year lease agreement with PBC, is linked intrinsically to the of managing and operating the and shares in PBPL will be sold. port was undertaken by the Port of Where we are relationships we have Brisbane Corporation (PBC). PBC is with our stakeholders. a Government Owned Corporation, Situated on the southern side of the established on 1 July 1994 under the mouth of the Brisbane River, just We work with them to Government Owned Corporations Act 24km from the city’s Central Business drive productivity, increase 1993 (GOC Act). We manage one of District, our port has world-class Australia’s fastest-growing container cargo-handling and warehousing trade, and reduce our ports, with the Transport Infrastructure facilities. It also provides an interface environmental footprint. Act 1994 providing the framework for between rail, road and sea transport our responsibilities. On 1 July 2007, at the Brisbane Multimodal Terminal PBC changed from a statutory to a (BMT). Over the past 20 years, company GOC, registered with the investment in infrastructure and assets Australian Securities and Investments has totalled over $1.3 billion. Commission, becoming the Port of Other landholdings and facilities Brisbane Corporation Limited. are located at various sites upriver, We have two shareholding Ministers including Port West at Lytton, – the Treasurer and Minister Hemmant, Colmslie, Port North at for Employment and Economic Pinkenba, Eagle Farm, and Hamilton. Development, Hon Andrew Fraser MP, See map on page 100. and the Minister for Transport, Hon Rachel Nolan MP. Our boundaries We are a government owned entity, The port’s limits extend geographically but operate on a commercial basis from Caloundra to the southern tip and in a competitive environment, to of Moreton Island. They include the ensure that we meet the objective of shipping channel, which is dredged corporatisation under the GOC Act to a maximum depth of 15m below – ‘to improve Queensland’s overall LAT (Lowest Astronomical Tide). economic performance’. Our management responsibility extends 16km up the Brisbane River On 2 June 2009, the Queensland to Breakfast Creek. Government announced its Renewing Queensland Plan, which included the In total, we have approximately sale of the port to private owners. 1,803.24ha of wet and dry land, of which 63% is designated for industrial On 1 November 2009, the Port of use, 1% for commercial use, and Bundaberg, managed by PBC since 36% for environmental/buffer or 1 October 2007, was transferred to community purposes. the Gladstone Ports Corporation Limited (GPC). On 1 July 2010, the Queensland Government restructured PBC to create a wholly owned subsidiary, PBPL, to be the port operator/ manager. PBPL will continue to operate as a GOC subsidiary until the sale process is completed. Our organisation Port of Brisbane Corporation Limited Annual Report 2009/2010 5
Port precincts
Port of Brisbane (Fisherman Islands)
Port Gate
Port West
Port North
Hamilton
Colmslie
y a
w r o t o M Gateway ne Bridge sba Bri t of Por
What we do We lease and manage land for We do not provide stevedoring Our primary role is to facilitate trade port-related purposes. We proactively services, towage services, or growth through the commercial manage development under the transport operations (other than the management of an efficient and Sustainable Planning Act 2009. BMT), nor do we control shipping movements. We do seek to actively customer-focused port. To this We are also responsible for influence the performance of these end, we provide the necessary maintaining navigable access service providers, as they are infrastructure through the sustainable to the port for commercial shipping. essential elements of an efficient planning and development of new For this purpose, we have our and successful port. facilities, and the maintenance and own dredging fleet, including an management of existing facilities. ocean-going dredger, the Brisbane. We are also responsible for the The Brisbane also undertakes security and protection of the port’s dredging at other Queensland and infrastructure and assets, and the Australian ports under commercial provision of risk-based security contract arrangements. services. 6 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our organisation
Our stakeholders Our people Our business risks Our values focus on providing As at 30 June 2010, we employed We actively manage our risks from exceptional levels of customer 338 people in a variety of both financial and non-financial service, and delivering on the professional, technical, trade, perspectives. Our business risks promises we make to our stakeholders. hospitality, and administrative roles. include, but are not limited to: Our stakeholders cover a range We have 11 different workplaces: • maintaining efficient road, rail and of sectors, and are detailed in the Port Office (our head office), channel access following table: Port of Brisbane Operations Base, • appropriate disposal of dredged Reclamation Site Office, Land Care material Site Office, the Brisbane, BMT, • port efficiency and productivity Our stakeholders Visitors Centre, Jetty Kiosk at Manly • national and international economic Boat Harbour, Port Central Café, Financial shareholders conditions Northshore Riverside Café and our • our ability to attract and retain • our Shareholding ministers city office. experienced employees Business customers Some of our employees are • maintaining a strong safety culture represented by trade unions, including: for our employees • importers • exporters the Maritime Union of Australia, • maintaining appropriate governance • freight forwarders Australian Maritime Officers Union, structures • customs brokers and Australian Institute of Marine and • provision of adequate infrastructure • transport companies Power Engineers. to cater for future growth • port operators • regulatory compliance. • shipping agents We are committed to providing a • shipping lines safe and healthy environment for Ongoing risk identification and review • stevedores our employees, and place a high of internal processes continues to • suppliers priority on reducing the number of be a key focus of our day-to-day safety incidents. We encourage the operations. This process begins Government stakeholders development of our staff through with the annual review of our major Federal: training and professional development business risks at a corporate level • Department of Infrastructure, programs. during the production of our five-year Transport, Regional Development See Our employees on page 38. Corporate Plan and 12-month SCI. and Local Government (DITRDLG) It continues throughout the year with State: strategic management workshops, • Department of Transport and weekly Executive Team meetings, Main Roads (DTMR) and regular Board and Board • Department of Infrastructure Committee meetings. At all of these, and Planning business risks are discussed and • Maritime Safety Queensland (MSQ) appropriate management strategies • Department of Environment and are developed. Resource Management (DERM) • Queensland Treasury See Recognise and manage risk on page 73. Local: • Brisbane City Council • Moreton Bay Regional Council
Community stakeholders
• environmental groups • community groups • schools and universities • visitors to the port • local and wider community • media Our organisation Port of Brisbane Corporation Limited Annual Report 2009/2010 7
The main port complex, located at Fisherman Islands, offers seven dedicated container wharves.
Our environment The Port of Brisbane adjoins the Moreton Bay Marine Park, which is an area of high ecological and conservation value. Many of the species using the park are endangered and protected by international treaties. The marine park contains a variety of habitats, some of which support mangroves and seagrass vegetation. These, in turn, provide important nursery and feeding habitats for a variety of fish and crustaceans, many of which are of direct fisheries value. We undertake a wide range of monitoring to measure our environmental performance and ensure that potential environmental impacts from our operations are minimised. See Our environmental performance on page 49.
Our community Our immediate neighbours include the Brisbane bayside suburbs of Wynnum and Manly, the river suburbs of Hemmant and Colmslie on the southside of the Brisbane River, and Pinkenba and Hamilton on the northside. However, the influence of our activities extends to the port’s hinterland areas of southern Queensland and northern New South Wales, which produce the majority of agricultural goods exported through the Port of Brisbane. We support our local and wider communities through sponsorships and donations, industry partnerships and the provision of educational opportunities. We also provide free school and community port tours, through our Visitors Centre. See Community and stakeholders on page 45. 8 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our Board of Directors
Our Board of Directors
Our Board currently comprises seven David has been a non-Executive She is a Director of Frontline Defence non-Executive Directors, who are Company Director of a diverse range Services, Queensland Bulk Water appointed by the Governor in Council of companies since 1987. He is Transport Authority, Southern Regional on the recommendation of the currently: Chairman of QMI Solutions Water Pipeline, and Councillor of shareholding Ministers, in accordance Pty Limited; Chairman of Australia the Royal National Agricultural and with the GOC Act. TradeCoast Limited (ATC) and Industrial Association of Queensland. member of the ATC Audit Committee; The criteria for membership of the Loftus Harris AM, BA, FAICD Director of the BAC Group (BAC Board are in accordance with the Holdings Ltd – BAC Holdings No 2 P/L Appointed from 23 August 2007 until GOC Act: namely, that in appointing – Brisbane Airport Corporation P/L) 30 September 2010. a person as a Director, the Governor and Chairman/member of the BAC in Council must have regard to that Loftus is a member of the People and Remuneration Committee; Director of person’s ability to make a contribution Culture Committee and Privatisation Queensland Investment Corporation to the GOC’s commercial performance Process Committee. Limited (QIC) and member of the and implementation of its SCI. QIC Human Resource Committee Loftus has extensive experience in Directors are appointed for a term of and QIC Audit & Risk Management government, international trade and not more than five years. The Board Committee; and Director of economic development. He was comprises: Queensland Ports Association (QPA) formerly Director General of the NSW Chairman and Blustarz Pty Limited. Department of State and Regional Development; Coordinator General David Harrison FAICD In 2003, David was awarded the for Queensland; Director General Appointed as Deputy Chairman from Centenary Medal for distinguished of the Queensland Department of 1 July 1999; re-appointed in 2003 until service to industrial relations, the Premier, Economic and Trade 30 June 2006; appointed as Chairman following a career of 28 years. Development, and of the Department on 1 July 2005 until 30 September Deputy Chairman of Tourism, Small Business and 2007; re-appointed as Chairman on Industry. He worked internationally as 1 October 2007 until 30 September Catherine Sinclair BSc, MA, FAICD, FAIM, CMC an Australian Trade Commissioner for 2009; re-appointed as Chairman from 15 years. 1 October 2009 to 30 September 2012. Appointed from 1 July 2001 until 30 June 2005; appointed as Deputy Loftus is a Director of: Delta David is Chairman of the People and Chairman in 2005 until 30 September Electricity; National Information Culture Committee and Privatisation 2007; re-appointed as Deputy and Communications Technology, Process Committee and a member of Chairman on 1 October 2007 until Australia; the United States Study the Audit and Risk Committee. 30 September 2010. Centre; and the Garvan Research Foundation; and is on the national Catherine is Chairman of the Planning, advisory board of L.E.K. Consulting. Construction and Environment Committee and a member of the He is the Chairman of the Australian Privatisation Process Committee. Institute of Export and Chifley Business School. He is also Trade Catherine is currently a Director of The Queensland’s Special Representative Consultancy Bureau Pty Ltd, and is an to the Middle East and India. accomplished leader in the provision of a broad range of management and consultancy services to the public, statutory and business sectors. Our Board of Directors Port of Brisbane Corporation Limited Annual Report 2009/2010 9
Susan Rix B. Fin Admin, FCA, GAICD Ted has extensive international Bill has over 50 years’ experience in Appointed from 7 May 2009 until experience as a researcher, teacher, the shipping industry. He held senior 30 September 2012. Susan was consultant and writer on rock positions within P&O for most of this previously a Director of PBC: mechanics and engineering. He is time and was part of the feasibility appointed from 1 July 1999 to a Senior Consultant with Golders team that, in 1966, commenced the 30 June 2003; re-appointed Associates Pty Ltd, and undertakes study to move from conventional to 30 June until 1 July 2005. research for The University of container shipping in Australia. Queensland’s Sustainable Minerals In 1982, he moved from Sydney to Susan is Chairman of the Audit and Institute. He is a former Dean of Brisbane, where he spent 13 years Risk Committee, and a member of the Engineering and Senior Deputy as Queensland State Manager of People and Culture Committee and Vice Chancellor of the University. P&O Containers. In 1999, he joined Privatisation Process Committee. Ted has been a Director of several Shipping Australia Ltd as Queensland public sector and technology transfer Susan is a Chartered Accountant Secretary. Bill is a fellow of the companies continuously since 1991. with more than 25 years experience. Chartered Institute of Logistics As a partner at BDO she provides Peter Lancaster HDDT (UWS), FAIFST, and Transport. broad-based accounting and MRACI, FAIM, AAICD consulting advice to businesses. Appointed from 1 July 2005 until Board changes She specialises in Corporate 30 September 2008; re-appointed from Changes to the Board occurred as Governance, Succession Planning, 1 October 2008 to 30 September 2011. follows: Taxation Structures and Restructuring. Peter is a member of the Audit and • Peter Low OAM (appointed from Susan is currently Chairman of Risk Committee. 1 July 1999) left the Board at the Ecofund Queensland Pty Ltd. She end of his term on 30 September Peter is founder and Chairman of is also Director and Treasurer, and 2009. food ingredients manufacturer, former Chairman of the Cerebral • Glen Toll (appointed from Food Spectrum. He is a National Palsy League of Queensland and a 23 August 2007) resigned from the Councillor of the Australian Industry Director of QUT Enterprise Holdings Board on 30 September, following Group, a member of the Premier’s Pty Ltd. Susan is a former Director the government’s decision to Smart State Council, the Queensland of QR Limited and held the position transfer the Port of Bundaberg to Government’s Manufacturing of Director with the Queensland Gladstone Ports Corporation Limited, Leaders Group, and the University Rural Adjustment Authority for and was subsequently appointed of Queensland’s School of Land and 10 years, assisting rural and regional as a Director of Gladstone Ports Food Sciences Advisory Committee. Queensland. Corporation Limited. He is also the past President of the • Jenny Ryan was appointed as the Professor Ted Brown AC, BE, MEngSc, Australian Institute of Food Science Company Secretary of PBC on PhD, DSc (Eng), FREng, FTSE, FIE Aust, FIMMM, and Technology. MICE, MASCE, MAICD 24 July 2009. Appointed from 1 July 2005 until Bill Guest FMILT See our Corporate governance section or 30 September 2007; re-appointed from Appointed from 1 October 2007 visit our website for more information on our 1 October 2007 until 30 September until 30 September 2009; Board of Directors. 2009; re-appointed from 1 October re-appointed from 1 October 2009 2009 to 30 September 2012. until 30 September 2012. Ted is a member of the Planning, Bill is a member of the Planning, Construction and Environment Construction and Environment Committee. Committee. 10 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our Executive Team
Our Executive Team
The eight members of our Executive The company is working towards the Michael Snell M Soc. Sc Team are responsible for guiding the change in ownership from the public to General Manager Corporate port’s future through the development private sector. This change will require Services and Acting General of key strategies, business plans strong leadership to ensure that the Manager Port Development and policies. organisation works effectively through Michael is responsible for managing the transition, while ensuring the port Appointments of CEOs and General Corporate Services, which covers continues to develop and prosper. Managers are made in accordance employee relations, organisational with the GOC Act and Queensland Peter Keyte development, corporate information, Treasury’s Government Owned General Manager Port Operations health, safety and quality programs. Corporations Governance Arrangements Peter is responsible for managing and The focus for the year will include for Chief and Senior Executives improving port operations for shipping strengthening our ‘Safety First’ (February 2009). Other members of the and landside services, the operation program, staff retention and Executive Team have been appointed of the BMT, emergency response and engagement strategies, leadership by the Chief Executive Officer, on the maritime security. performance, and supporting the basis of the additional expertise and privatisation program. experience that they provide. He is Chairman of the QPA Operations Group, and an active member of Ports Michael is also responsible for Jeff Coleman BBus(Acctg), CPA, AICD Australia and Shipping Australia Ltd the planning, construction, and Chief Executive Officer committees. maintenance of port facilities and Jeff has been responsible to the Board infrastructure, and for dredging and In the coming year, Peter’s team will and shareholders for the leadership reclamation activities. Major projects work with stakeholders to enhance the and performance of PBC since May for the Port Development division in efficiency and safety of the port. They 2002. Jeff is also Chairman of Ports the coming year will include ongoing will work on integrating IT logistics Australia Limited, and is a Director of land preparations for Terminals 11 solutions; improving performance of Australia TradeCoast Limited. and 12, and the construction of the the BMT and the port’s supply chain duplicate Captain Bishop Bridge and Jeff is committed to creating a culture links; ensuring security strategies associated major road upgrades. across the company that values people, and initiatives meet best practice and drives a commercial and customer- standards; and setting new standards Rick Morton BSc, MSc, PhD focused approach to the business, with for Critical Infrastructure Protection General Manager Planning, a strong focus on future sustainability and emergency response in the port. Environment and Community of the port. Rick is responsible for managing He is committed to achieving a development assessment, property balanced business to ensure strong administration and planning for financial, environmental and social port land, ensuring environmental performance, as well as planning the impacts from all of our operations port to improve efficiency and meet are minimised, and that sustainable the demands of its rapidly growing practices form part of the port’s trade base. operations. He is also responsible for community relations, our Visitors Centre, and hospitality venues. Our Executive Team Port of Brisbane Corporation Limited Annual Report 2009/2010 11
He chairs both the Ports Australia and Jenny Ryan BRTP Bill is Chairman of the QPA Engineers QPA Environmental and Sustainability General Manager Corporate Functional Network Group. Committees. Additionally, Rick chairs Governance and Company Bill and the engineering team will PBPL’s Community Consultative Secretary focus on key projects, including Committee. Appointed as Company Secretary preliminary planning for new port Over the next year, the key priorities of PBC on 24 July 2009. facilities at Port West and Port North. for Rick’s team will include: ensuring They will also balance the rate of fill Prior to their transfers out of the port continues to develop with required to bring on land early to keep PBC during the year, Jenny was minimal environmental impacts; pace with the growth of the port, responsible for the Port of Bundaberg, incorporating a new planning while maximising the use of land for and PBC’s non-core port land framework into the company; placing placement of dredged material. holdings, including the Northshore a strong emphasis on resource and Hamilton area and recreational boat Mark Neander BAppSc(Building) energy efficiency, and continuing with harbours. In addition to the role of community engagement activities. Senior Manager Business Company Secretary, Jenny has had a We also will continue to attract local Development significant role in the privatisation and businesses and meeting groups to our Mark is responsible for developing due diligence process. Visitors Centre and hospitality venues. business initiatives and strategies She now leads the company’s to increase trade growth, optimising Darryl Mutzelburg BBus, MComm, CPA Corporate Governance division, the development of land for port General Manager Finance and which is responsible for governance, uses, trade marketing, and ensuring Business Services corporate affairs, corporate planning a customer-focused approach Darryl is responsible for financial and strategic risk management. to business. operations, financial and management In the next 12 months the team will This year the Business Development reporting, operational Key Performance focus on ensuring the company’s team will be focused on: working with Indicators, IT, trade and economic governance processes respond to customers to increase trade through forecasting, pricing and business the new responsibilities arising from the port; the implementation of the development. the privatisation process. It will also land optimisation strategy for bulk ensure a strong framework for setting Darryl has played a key role in the due trades, and progressing the marketing and reporting on key business and risk diligence and privatisation process of available land; and optimising the management strategies. over the past 12 months. use of, and return on, land at the port. Bill Tranberg BE, PhD, GradDipBus(Mgt) Darryl’s team focus for the year Executive Team change ahead includes refining our business Senior Manager Infrastructure • On 2 July 2010, one of the systems for privatisation, and Planning and Chief Engineer Executive Team members, pursuing a number of business Bill is responsible for the technical General Manager Port Development, development opportunities including oversight of all of our design and Gerry Johnstone, retired after the development of our Port West and construction activities, infrastructure 19 years at PBC. Port North Estates. planning, the preparation of the major capital budget, and review of expenditure against this budget as the year progresses. 12 Port of Brisbane Corporation Limited Annual Report 2009/2010 Chairman and CEO’s report
Chairman and CEO’s report
Solid results after tough times 5 year revenue* 250 Twelve months ago the global ($ million) shipping industry was still grappling 200 with the effects of the economic downturn. Now, slowly but surely, 150 we are seeing solid signs of recovery. In particular, Australia’s relatively Other 100 stable economy and strong trading Services ties with booming China helped ensure positive growth across a Rentals 50 number of commodities. Trade charges 0 Trade through the Port of Brisbane is closely linked with Queensland’s 2005/06 2006/07 2007/08 2008/09 2009/10 broader economic conditions, * Revaluation gains and the transfer of BACH shares have been excluded from this graph. population and employment growth. Economic activity in the state held 5 year trade performance 1,000 35 steady during 2009/2010, and is 900 30 expected to improve as industry 800 500 and consumer confidence grows. 700 25 These factors, combined with the 600 40020 port’s diverse trade portfolio and 500 efficient, world-class facilities, 400 15 ensured solid results. 300 300 10 Container trade returns to TotalExport container full trade (thousand teus) 200 2005 positive growth 100 TotalExport tonnes empty (million tonnes) Container trade bounced back 0 0 Import full 100 to positive growth in 2009/2010, 2005/06 2006/07 2007/08 2008/09 2009/10 increasing by 2.5% to reach Import empty 918,999 teus. Imports were 0 largely driven by strong increases Divestments strengthen focus Property 2005/06 2006/07 gains2007/08 add to2008/09 strong2009/10 in household items and building During the year, in preparation for the revenue result products, while exports were sale of the company to private Last year our financial results were boosted by empty containers, owners, the Queensland Government heavily impacted by income from the500 cotton, and fruit and vegetables. completed a series of transfers of final sale of our shares in Brisbane Total trade increased by 0.6% to reach non-port assets previously owned by Airport Corporation Holdings (BACH).400 32.1 million tonnes – a new record. PBC to government departments and This year, the divestment of other authorities. These assets included non-port assets (as described earlier) This was our seventeenth consecutive 300 year of growth in total trade. our recreational boat harbours, legacy had a similar effect, bringing total landExport like the full City Reach boardwalk, revenue to $420.3 million. We also One of the year’s most outstanding land at Northshore Hamilton, achieved substantial gains in revenue200 Export empty results was the 26% increase in and our responsibility for the from the revaluation of investment motor vehicle imports, boosted by the PortImport of Bundaberg. full properties, and saw solid growth in 100 Federal Government’s tax incentive trade, rental and services income. WhileImport we empty are proud of the legacy scheme for businesses. Our strong results allowed us to we leave behind with these assets, 0 provide an $60.7 million dividend to These results are extremely the divestments mean we can now 2005/06 2006/07 2007/08 2008/09 2009/10 our shareholders. encouraging, and again demonstrate focus our resources entirely on the the resilience of our diverse range of core business of the port, and its commodities. Our ten-year average future needs. total trade growth now sits at See Manage strategic investments and 3.4%, and container trade an undertake associated business activities on impressive 7.8%. page 29. See Accelerate and plan for trade and revenue growth on page 22. Chairman and CEO’s report Port of Brisbane Corporation Limited Annual Report 2009/2010 13
Our Chairman, David Harrison, and Chief Executive Officer, Jeff Coleman.
With our continued focus on the provision of new infrastructure, we invested nearly $150 million in new capital projects. In the wake of the global financial crisis, another primary focus for the year was to monitor and control our costs, and as a result, expenses were well under budget. See Our economic and financial performance on page 78.
Key infrastructure projects move ahead We continued work on several major infrastructure projects, in particular our new container berths, Berths 11 and 12, to be operated by Hutchison Port Holdings (HPH). HPH will invest significant capital in the development of Terminals 11 and 12, and they continue to move forward with their planning for commencement of operations in 2012. Our other major infrastructure project is the Captain Bishop Bridge duplication, and associated road upgrades. Road and bridge construction is well underway, and by the end of next year we expect to have the new bridge complete and open to traffic. Despite the tough economic conditions of the last year, our commitment to these capital projects has not diminished, and our focus firmly remains on the future development of the port. See Deliver on our infrastructure projects on page 26.
Building for the future port community This year we moved a step closer to fulfilling our vision for the Port Central commercial and retail precinct, with the completion of our new Port Office building. We now have three buildings in the precinct, and in the year ahead our next step will be to lease the former Port Office building to commercial tenants. See New Port Office opens for business on page 32. 14 Port of Brisbane Corporation Limited Annual Report 2009/2010 Chairman and CEO’s report
Tenants invest in the future Community focus on the sale As we continue to invest in the The major issue for our port and long-term future of the port, so too community stakeholders is how do our tenants, with several operators privatisation of the port could making significant commitments affect their own organisations – during the year. economically, environmentally and socially. Queensland Bulk Handling (QBH) surrendered an area of waterfront Our business continuity strategy land to allow for construction of the has meant that we have continued new General Purpose facility, and to engage with the port community We are on track to in return gained another 6ha for through our regular business activities, reach our climate change expansion of their coal stockpile area. forums and meetings to keep them The $65 million expansion project informed about the privatisation commitments for fuel is due for completion later this year, process. and will significantly boost QBH’s efficiency, recycling, We have also continued to engage throughput capacity. Next door to with the local community through the and climate change QBH, Sunstate Cement invested Community Consultative Committee’s $17 million in a new conveyor system, resilience. quarterly meetings. linking their processing plant to the General Purpose facility. See Privatisation is the material issue on page 45. DP World Brisbane has also announced it is looking at spending Our community sponsorship and $250 million over time, to expand partnership program continues to and re-engineer their container provide positive results in the welfare terminal. This commitment, and of our local community. Initial data the major capital investments collected from the Mangrove Watch made by Patrick Terminals over program will provide better planning the last few years, demonstrate the outcomes for the port’s environment. high level of confidence both our See Supporting the community on page 46. major stevedores have in the future of the port. Both operators also Our commitment to sustainability continue to make improvements continues in operational efficiency. This year we continued to investigate the impact of climate change on the Safety record must improve port and our business by examining Again, we have to report that our the vulnerability of our infrastructure, injury rate on the job has been trade and supply chain to sea level extremely disappointing. Six of our rise and extreme weather events. employees sustained LTIs. We have Given the long-term horizon of redeveloped our workplace health and our infrastructure investments, safety strategy to change employees’ understanding climate change impacts behaviour and prioritise safety first, in our corporate risk assessments which is one of our core values. is a priority. See Safety results disappointing on page 39. We are pleased to report that we are The divestment of the Port of on track to reach our climate change Bundaberg to Gladstone Ports commitments for fuel efficiency, Corporation on 1 November 2009, recycling, and climate change along with boat harbours and resilience. Last year we reported our Northshore Hamilton land the completion of an inventory of development, saw employee numbers greenhouse gas emissions and air drop this year. While our responsibility pollution attributed to our waterside for Bundaberg was only for two years, operations. By June 2010 we we believe that we accomplished finalised our landside inventory. a great deal in a short time. By benchmarking our current We would like to thank our emissions from port operations, Bundaberg employees for their we can focus and track our efforts cooperation and willingness to in 2010 and beyond. embrace these changes. See Climate change commitment on page 54. See Recruitment slows on page 39. Chairman and CEO’s report Port of Brisbane Corporation Limited Annual Report 2009/2010 15
In June 2010 we moved into our new Despite these pressures, our people Looking ahead Port Office – our third to be rated a have responded with the highest level We would sincerely like to thank 5 star building for design by the Green of professionalism and dedication, PBC’s Directors for their leadership Building Council of Australia, and the and we are extremely proud of and assistance during such a first in Australia to be awarded under their efforts. We have successfully significant year. We also thank our the version 3 criteria. This iconic and diligently completed the many shareholding Ministers, the Hon building is a long-term commitment to complex and onerous tasks involved, Rachel Nolan MP and the Hon Andrew provide our employees with a healthy and are confident that the business is Fraser MP, for their continued support. work environment, and promotes fully prepared to make the transition. We gratefully acknowledge our former green buildings as the future for all A key commitment throughout the Directors, Peter Low and Glen Toll for development at the Port of Brisbane. process has been to ensure the their commitment during their terms See The green edge on page 59. business of port operations continued of appointment. A unique aspect of the future port without impediment, and that our We would particularly like to expansion area is the marine habitat stakeholders remained informed about acknowledge one of our Executive that has developed along the seawall the progress of the sale. We have Team members, Gerry Johnstone, that encloses about 230ha for future upheld this commitment, ensuring who retired during the year after port activities. The seawall supports a regular consultation with our major nearly 20 years of service with the diverse marine community, promoting customers. As our new owners take company. Gerry made important ecosystem functions and recreational on the business, we will strive to contributions to many areas of our fishing along the outside of the wall. ensure the needs of our customers business, including human resources, We will continue to monitor this flora remain a high priority. operations, and trade and port and fauna community as it changes The divestment of our boat harbours development. We thank him for his and matures over time. and Northshore land back to the dedication, and wish him the very best for a long, happy and healthy See Seawall habitat adds to biodiversity of Queensland Government meant that the bay on page 53. four of our employees were also retirement. transferred from PBC, as their roles Finally, our sincere thanks and Governance disclosures provided significant support to those appreciation go to our dedicated commended assets. We have every confidence that and resilient employees, who have We have an outstanding record of they will provide invaluable experience worked tirelessly and professionally excellence for our annual reporting, and skills to the government in the throughout another demanding year. winning Report of the Year twice in future management of these assets. In the next 12 months we will enter a the last four years at the prestigious We thank them for their hard work and new and exciting phase in our history, Australasian Reporting Awards. dedication to PBC throughout their and we have every confidence in your This year, we again upheld our high employment with us. ability to take us forward. standard, achieving a Gold Award for Our business and our employees Excellence, and the special award for are more than ready to take on the Governance in the public sector. challenges and opportunities of private As we move from the public to the ownership. We have had a strong private sector in the next financial commercial focus for many years, and year, we aim to continue our our policies, processes and systems David Harrison commitment to transparent, best- are best practice. Chairman practice reporting to our stakeholders. See About this report on the inside front cover.
Our transition to private ownership As this report is published, we will be Jeff Coleman in the final stage of our transition from Chief Executive Officer government owned corporation to privately owned company. The privatisation process has placed a significant workload on our employees over the last twelve months, in addition to carrying out their day-to-day responsibilities. 16 Port of Brisbane Corporation Limited Annual Report 2009/2010 Key corporate strategies
Key corporate strategies
Strategy 1 – Accelerate and plan for trade and revenue growth
Critical success factor Target ✓ or ✗ Achieved Next year’s target Page Grow trade Implement strategy to ✓ Total container trade Implement strategy 22 achieve container increased from to achieve container throughput of 880,000 teus 896,199 teus in 2008/ throughput of 1 million by June 2010. 2009 to 918,999 teus. teus by June 2011.
Implement strategy to ✓ Motor vehicle imports Implement strategy 22 achieve imports of increased from to achieve imports of 134,000 motor vehicles 164,156 units in 2008/ 189,800 motor vehicles by June 2010. 2009 to 202,440 units. by June 2011.
Achieve 30.9 million tonnes ✓ Total trade increased Achieve 33.7 million 22 in total trade by June 2010. from 31.9 million tonnes tonnes in total trade in 2008/2009 to by June 2011. 32.1 million tonnes.
Implement bulk land ✓ Strategy implemented in line Undertake expression 25 rationalisation and with strategy timeframes. of interest for Port North optimisation strategy. precinct for land, subject to adequate tenure, by June 2011.
Implement marketing ✓ Strategy implemented in line Implement strategy in line 25 strategy by June 2010. with strategy timeframes. with specified timeframes.
Maintain relationships Implement customer and ✓ Strategy implemented in line Implement customer and 25 with key customers and stakeholder strategy with with strategy timeframes. stakeholder strategy with stakeholders established call plan. established call plan.
Strategy 2 – Deliver on our infrastructure projects
Critical success factor Target ✓ or ✗ Achieved Next year’s target Page Develop port estates Create 20ha of land at Port ✓ Land ready for development This indicator has not 26 West by December 2009. by December 2009. been included in the 2010/2011 SCI.
Provide facilities for Develop a Multi-user ✓ Facility completed This indicator has not 26 non-cargo vessels Terminal facility for large and operational by been included in the cruise ship day calls November 2009. 2010/2011 SCI. and naval vessels by November 2009.
We completed the new General Purpose Berth in July 2009. Key corporate strategies Port of Brisbane Corporation Limited Annual Report 2009/2010 17
Strategy 3 – Facilitate improved port access
Critical success factor Target ✓ or ✗ Achieved Next year’s target Page Upgrade key infrastructure Secure funding model and ✗ The Queensland Government This indicator has not 28 – road and rail timings agreement for the announced it would proceed been included in the Port of Brisbane Motorway with the project in early 2010. 2010/2011 SCI. Upgrade by December 2009.
Construct road access to ✗ Construction has not begun. This indicator has not 29 Port West from Freight been included in the Street by June 2010. 2010/2011 SCI.
Develop relevant Develop a long-term ✓ Strategy developed by Complete dredge material 57 strategies future dredged-material June 2010. trials and evaluation disposal/re-use strategy of land-based disposal by June 2010. options by June 2011.
Strategy 4 – Make strategic investments and undertake associated business activities
Critical success factor Target ✓ or ✗ Achieved Next year’s target Page Progress of Northshore Achieve one land sale during ✓ We finalised the sale of No new indicator required. 29 development 2009/2010, and achieve sales a 1.8ha parcel of land to of $15 million from land Australand Property Group sales per year from 2009. during the year.
Dispose and/or rationalise Disposal of City Reach ✗ Our City Reach properties No new indicator required. 29 targeted properties properties to Brisbane City were divested from PBC on Council by February 2010. 1 June 2010, as part of the Renewing Queensland Plan.
Complete realignment ✓ Realignment completed in This indicator has not 32 of Colmslie Creek by November 2009. been included in the June 2010. 2010/2011 SCI.
Develop Port of Complete Business ✗ Our responsibilities for the No new indicator required. 30 Bundaberg Development plan for Port of Bundaberg were Port of Bundaberg by transferred to Gladstone December 2009. Ports Corporation in November 2009 as part of ✗ Complete tenure the Renewing Queensland rationalisation review for Plan, before we were able to Port of Bundaberg land by meet these indicators. December 2009.
Construction of ✗ Bridge completed in This indicator has not 30 Burnett Heads Bridge early 2010. been included in the by December 2009. 2010/2011 SCI.
Development of Complete construction of ✓ Building completed by This indicator has not 32 new Port Office new Port Office building by June 2010. been included in the June 2010. 2010/2011 SCI.
Boat harbours Complete tenure ✗ Our boat harbour assets No new indicator required. 30 development rationalisation review for were divested from PBC boat harbours by June 2010. during the year as part of the Renewing Queensland Plan, ✗ Develop one project plan for before we were able to meet boat harbour improvements these indicators. by June 2010.
Governance of the Establish a governance ✗ The Port of Maryborough No new indicator required. n/a Port of Maryborough framework for the Port of was not transferred Maryborough by June 2010. to PBC as originally planned, following the announcement of the Renewing Queensland Plan. 18 Port of Brisbane Corporation Limited Annual Report 2009/2010 Key corporate strategies
Strategy 5 – Drive port efficiency and sustainability
Critical success factor Target ✓ or ✗ Achieved Next year’s target Page Promote port efficiency Increase teus per quayline ✗ Teus per quayline metre Increase teus per quayline 34 metre to over 620 teus. averaged 504.95 for metre to over 550 teus. the year.
Complete construction of ✓ General Purpose Berth This indicator has not 33 General Purpose Berth to completed in July 2009. been included in the enable Sunstate Cement 2010/2011 SCI. to construct their hopper and conveyer system by June 2010.
Keep average motor vehicle We were unable to obtain New target: Increase number n/a dwell time in the AAT the required data to of motor vehicles exchanged Terminal to less than measure these targets. per ship hour to 70 motor 2.5 days. vehicles per hour.
Keep average break bulk New target: Increase tonnes n/a dwell time in the AAT of general cargo exchanged Terminal to less than to 85 tonnes per hour. 2.5 days.
Keep container terminal ✓ We recorded an average Keep container terminal truck n/a truck turn time to under container terminal truck turn time to under 30 minutes. turn time of 24.5 minutes. 30 minutes.
Strategy development Implement Port Productivity ✓ Strategy implemented This indicator has not 32 Strategy by June 2010. in line with strategy been included in the timeframes. 2010/2011 SCI.
Develop Sustainable ✓ Strategy developed by This indicator has not 78 Procurement strategy by June 2010. been included in June 2010. the 2010/2011 SCI. Ongoing adoption of recommendations.
Reduce environmental Record no Class A or B ✓ We recorded no Class A Record no Class A or B 64 incidents environmental incidents as or Class B environmental environmental incidents a result of PBC activities. incidents. as a result of PBC activities.
Measure PBC’s Establish an inventory of ✗ Waterside inventory Implement port precinct 60 greenhouse gas emissions actual greenhouse gas completed May 2009. emission reduction initiative and air quality associated emission/air quality levels Landside inventory to be by December 2010. with Fisherman Islands and sources for FI port completed August 2010. (FI) port operations and operations and tenants by tenants December 2009.
Develop precinct ✗ Targets are reliant on greenhouse gas emission/ baseline from emissions air quality level targets for FI inventory. port operations and tenants by June 2010.
Improve PBC’s Implement Sustainability ✓ Strategy implemented Link sustainability actions 54 greenhouse gas Strategy to meet objectives in line with strategy into corporate strategy. emission performance of climate change initiatives timeframes. by December 2009 (and ongoing).
Improved resource Reduce quarterly electricity ✓ Total electricity use Continuous improvement. 60 efficiency of corporate use for PBC electricity has dropped 21% facilities accounts by June 2010. from 2007/2008.
Implement and Record no non-conformances ✓ We recorded no Record no non-conformances 51 maintain Environmental to our ISO 14001 non-conformances. to our ISO 14001 Management System accreditation. accreditation.
Identify low and zero Complete business case ✓ Business case completed Complete due diligence 54 emission energy source for alternate port precinct by December 2009. investigations into energy for the port precinct energy supply by options by December 2010. December 2009. Key corporate strategies Port of Brisbane Corporation Limited Annual Report 2009/2010 19
We recorded no non-conformances to our environmental accreditation.
Strategy 6 – Develop a culture that supports people, their learning and growth in a changing environment
Critical success factor Target ✓ or ✗ Achieved Next year’s target Page Attraction and retention Achieve employee turnover ✓ Employee turnover was Achieve employee turnover 39 of people of less than 15%. 12.7% for the year. of less than 15%.
Ensure over 95% of ✓ All externally advertised Ensure over 95% of n/a externally advertised jobs positions were filled. externally advertised jobs are offered and filled. are offered and filled.
Valuing diversity Record a 90% positive Due to the company’s Record a 90% positive 38 response in Culture Survey period of transition, it response in Culture Survey relating to diversity in the was more appropriate to relating to diversity in the workplace. conduct a less extensive workplace. Climate Survey, instead of Understanding what our Achieve an overall a full Culture Survey. This This indicator has not 38 people value most satisfaction rating of over meant that some measures, been included in the 90% in Culture Survey. such as satisfaction and 2010/2011 SCI. diversity, were not able to be considered. We intend to conduct the full Culture Survey in 2011.
Achieve an overall employee ✓ The Climate Survey Achieve an overall 38 engagement rating of over measured a 76% employee employee engagement 70% in Culture Survey. engagement rating. rating of over 70% in Culture Survey.
Developing our people Record an average of over ✗ We recorded an average of Record an average of over 42 6.6 hours per quarter of 6.2 hours per quarter. 8.75 hours per quarter of learning and development learning and development time for each employee. time for each employee.
Record an average ✗ We recorded an average of New target: Ensure 42 expenditure of $585 per $539 per person per quarter. over 65% of employees quarter on learning and participate in structured development activities for learning and development each employee. during 2010/2011.
Health, safety and Achieve 0 LTIs for ✗ Six LTIs were recorded. Achieve 0 LTIs for 40 well-being 2009/2010. 2010/2011.
Record no non-conformances ✓ No non-conformances were Record no 39 against our AS 4801 recorded. non-conformances accreditation. against our health, safety and quality standards. 20 Port of Brisbane Corporation Limited Annual Report 2009/2010 Key corporate strategies
Strategy 7 – Optimise financial returns appropriate to the economic conditions
Critical success factor Target ✓ or ✗ Achieved Next year’s target Page Cost management Achieve cost savings of over ✓ Achieved cost savings New target: Management 82 $3 million during budgetary of $3.5 million for accounts generated and process. operating costs (excluding reviewed by June 2011. employee costs).
Achieve a total discretionary ✓ Operating costs were Achieve total discretionary 80 cost which is less than $5.6 million under budget expenditure that is less budget. for the year. than budget.
Review and rationalise ✓ Review completed and Review and rationalise 80 procurement contracts with adjustments made by procurement contracts suppliers by June 2010. June 2010. with suppliers by June 2011.
Price optimising Achieve land rental increases ✓ Adjustments made in Achieve land rental 79 to market values. line with lease terms by increases to market values June 2010. by June 2011.
Review activity-based ✓ Review completed by This indicator has not 79 costing and charge out December 2009. been included in the rates for dredgers and other 2010/2011 SCI. services by December 2009. Our operational performance
Review port pricing ✓ Review completed Complete review of port 79 and implement and recommendations pricing and implement recommendations by implemented by June 2010. recommendations by June 2010. June 2011.
Capex Achieve accurate forecasting ✓ Accurate forecasting and Achieve accurate 27 and scheduling of critical scheduling achieved. forecasting and scheduling infrastructure and capital of critical infrastructure and expenditure. capital expenditure.
Complete a rolling five-year ✓ Forecasts completed Complete a rolling 27 forecast on a quarterly basis. according to schedule. five-year forecast on a quarterly basis.
Review infrastructure timing ✓ Timing reviewed by Review infrastructure 27 by June 2010. June 2010. timing by June 2011.
WACC Negotiate cost of capital ✓ Cost of capital Review cost of capital 78 to reflect economic re-negotiated. to reflect economic parameters. parameters.
Procurement Ensure all significant ✓ All significant capital projects Ensure all significant 27 capital projects are put to were put to tender. capital projects are put to open tender to maximise open tender to maximise competitive process. competitive process.
Counterpart and Review financial risk policies ✓ Review completed by Review risk registers, and 73 financial risks and initial internal audit December 2009. incorporate actions into review by December 2009. corporate strategies by March 2011.
Review standard contractual ✓ Review completed and This indicator has not 73 terms and risk sharing adjustments made by been included in the arrangements to ‘incentivise’ June 2010. 2010/2011 SCI. counterpart investment by June 2010. Insert section title Port of Brisbane Corporation Limited Annual Report 2009/2010 21 About this report IFC
Our vision, mission and values IFC
Our highlights 1
Our organisation 2
Privatisation milestones 3
Chairman and CEO’s report 12
Key corporate strategies 16
Our operational performance
Our social performance 37
Our environmental performance 49
Corporate governance 67
Our economic and financial performance 77
GRI content index 90
Independent Verification Statement 95
Index 96
Glossary and abbreviations 98
Port of Brisbane map 100
Contact us 102
Feedback form 103
Our financial reports (on CD) IBC 22 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our operational performance
Total container trade 500 (‘000 teus) 400
300
Export full 200 Export empty
Import full 100
Import empty 0 2005/06 2006/07 2007/08 2008/09 2009/10
Total trade 20 We recorded a return (million tonnes) to positive growth 15 in container trade, 500
up 2.5% overall to 40010 reach 918,999 teus. 300 5 Export Export full 200 Import Export empty 0
Import full 2005/06 2006/07 2007/08 2008/09 2009/10 100 Import empty 0 Although cereal exports decreased Accelerate and plan 2005/06 2006/07 2007/08 2008/09 2009/10 overall (after bumper sorghum crops for trade and revenue in 2008/2009), total wheat exports growth reached their highest level in 13 years,500 up 15% to reach 965,000 tonnes. We also recorded significant growth 400 Containers and cars return to in exports of mineral ores and sands, positive growth up 93.7%, and woodchip, up 49.5%, This time last year, Australian ports after weak trade in 2008/2009. 300 were grappling with the significant The major driver behind growth in Export full effects of global economic conditions import tonnage was refined oil. 200 on theirExport businesses. empty Now, we are Motor vehicle imports were one of the finally seeing sustained improvements Import full biggest success stories of the year, 100 across most commodities, although increasing by 26% to 202,440 units, it is Importclear emptythat in some areas a full due to the Federal Government’s recovery will take time. 0 tax 2005/06 reduction2006/07 on2007/08 new purchases2008/09 2009/10 for In Brisbane, we recorded a return to businesses, strong growth in the positive growth in container trade, mining and construction sectors, up 2.5% overall to reach 918,999 teus. and a pickup in the private market. Full container imports increased See Car sales begin recovery after financial by 7.9%, largely driven by strong crisis on page 27. increases in household items, up 7.7%, and building products, up Coal exports remain steady 31.3%. Exports increased by 4.0%, Coal exports in 2008/2009 reached a partly driven by a 16.6% increase record level – the highest ever annual in empty container exports, and throughput of coal for Brisbane. strong growth in cotton, and fruit This year, a range of factors negatively and vegetables (up 22.8% and affected output volumes at the major 15.3% respectively). mines, including heavy rains reducing Total trade also increased, up 0.6% the ability of the rail network to operate to reach 32.1 million tonnes – a at peak levels. Despite these factors, record result and our seventeenth coal exports for 2009/2010 decreased consecutive year of positive growth. by just 0.5% to 6.30 million tonnes. Our operational performance Port of Brisbane Corporation Limited Annual Report 2009/2010 23
This is still a strong result for the year, and we expect to see continued We recorded strong growth in both import growth in this commodity in coming and export container trade during the year. years as mine and rail upgrades continue, and QBH completes their 6ha storage area expansion.
Strong growth in oil products We recorded strong growth in both imports and exports of refined oil products during the year. Production of refined oil for the general consumer market reduced during the year due to local refinery maintenance. This led to a 43.2% increase in imports, to reach 2.0 million tonnes. Exports of refined oil also increased, up 5% to reach 2.3 million tonnes. Much of these exports consisted of diesel products, sent to mining areas in northern Queensland.
Gas imports continue to grow Last year we reported on the introduction of ship-to-ship LNG gas transfers, where large carriers discharge product at sea to smaller vessels for transportation to other ports (rather than the larger carrier making further stops). During 2009/2010 this trade continued to grow, increasing by a massive 73% to reach 449,066 tonnes. We expect this trade will continue in the future, and continue to provide a significant boost to overall bulk imports through the Port of Brisbane.
Car carriers boost ship visits Container ship visits dropped 8.1% during the year, and general cargo and bulk carrier visits also decreased. However, the impressive growth in motor vehicle imports drove a 23.4% increase in car carrier visits, and bulk liquid and gas tanker visits also increased. Overall, ship visits decreased by 0.7%. This is still an encouraging result given the 6.7% decrease in 2008/2009, and the continued trend in the shipping industry to move to fewer vessels with greater individual capacity.
Economic conditions drive rail trade down This year, rail trade through the BMT significantly declined, down 31.5% to 57,135 teus, due to a number of factors. The effects of the global financial crisis led rail operators to reduce services for both import and export containers. 24 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our operational performance
Top regions
Import 2009/10 Growth % of total All Origins 16,898,616 2.9%
SE Asia 5,611,047 -3.8% 33%
Australia 3,356,937 -8.9% 20%
North Asia 2,233,165 1.9% 13%
Gulf & Middle East 1,222,962 56.0% 7% We launched a major East Asia 1,179,443 24.7% 7% upgrade of our website, Export www.portbris.com.au, All Destinations 15,180,213 -1.9%
to enhance the service North Asia 5,807,987 -4.7% 38%
it provides to the East Asia 3,277,906 -5.8% 22%
port community. Australia 2,770,789 10.9% 18%
SE Asia 1,360,596 3.6% 9%
New Zealand 389,503 -9.5% 3%
Trade by commodity (tonnes)
Imports 2006/07 2007/08 2008/09 2009/10 % share Crude Oil 7,900,148 7,466,741 7,473,058 7,246,761 42.9%
Refined Oil 725,576 1,280,780 1,427,579 2,038,832 12.1%
Cement 1,747,410 2,043,494 1,790,643 1,545,431 9.1%
Iron & Steel 684,499 696,573 707,210 682,652 4.0%
Building Products 451,796 518,731 460,463 506,288 3.0%
Total imports 16,049,969 17,055,168 16,428,346 16,898,616
Growth 7.3% 6.3% -3.7% 2.9% Exports Coal 4,225,839 5,502,005 6,335,153 6,303,331 41.5%
Refined Oil 2,422,976 2,163,171 2,246,106 2,354,198 15.5%
Cereals 364,499 505,047 1,881,841 1,207,311 8.0%
Meat Products 800,141 746,691 753,142 741,369 4.9%
Iron & Steel 488,717 432,428 536,959 477,912 3.1%
Total exports 12,008,114 13,159,467 15,466,386 15,180,213
Growth 1.9% 9.6% 17.5% -1.9% Total trade Total tonnes 28,058,083 30,214,635 31,894,732 32,078,830
Growth 4.9% 7.7% 5.6% 0.6% Our operational performance Port of Brisbane Corporation Limited Annual Report 2009/2010 25
Export volumes of meat products Ship visits 2009/2010 and minerals remained steady, but a number of other agricultural Container exports declined. Cargo With the addition of road volumes, overall trade through the BMT Bulk decreased by 34.6% to 59,751 teus. Vehicle The drop in road volumes was largely Tanker due to a decline in imports, leading to reduced demand for short-term Other container storage at the BMT. Although these results are disappointing, we are working on 120 a number of strategies to drive BMT total trade 110 increased volumes through the facility (‘000 teus) 100 in coming years, and we are confident 90 that trade volumes will improve in the 50080 next 12 months. 70 Fostering stronger relationships 40060 with our customers Road volumes 50 This year our Marketing and Customer Depart by rail 30040 Relations team continued its focus 30 ArriveExport by full rail on trade-related sponsorships and 20020 advertising, aimed at optimising and Export empty 2005/06 2006/07 2007/08 2008/09 2009/10 developing key industry and customer Import full 100 relationships, and new business opportunities. Some of the key Import empty events, organisations and publications Feedback from each visit adds New Land Use Plan close to 0 we supported during the year to our market knowledge, and completion 2005/06 2006/07 2007/08 2008/09 2009/10 include: AusIntermodal Conference, provides critical insight into customer As part of the State Government’s 500 Australian Meat Industry Council satisfaction levels. It also ensures Renewing Queensland Plan, and (AMIC), Queensland Murray Darling we have the needs of our customers to enable the company to operate Committee – Young Farmers Forum, in mind when planning strategic under private ownership, we have 400 Premier of Queensland Export Week, activities for the future. been developing a new Land Use and Brisbane Marketing’s – Brisbane Plan in consultation with a range of 300 Land for future wet bulk demand Economic Annual. government agencies and leading FeedbackExport full from operators in the wet planning consultants. The new Land We also launched a major upgrade of 200 bulkExport industry empty indicates strong demand Use Plan adopts a similar ‘precinct our website, www.portbris.com.au, for access to additional land and wharf approach’ to land use planning across to enhance the service it provides Import full 100 facilities in Brisbane. To meet this all core port lands. Land uses will fall to the port community, and invested demand,Import weempty progressed our strategy to within three main categories: Core in our Customer Relationship review and rationalise land allocations Port Infrastructure; Port Related 0 Management software (Microsoft (where possible) and acquire additional Development;2005/06 2006/07 and2007/08 Port2008/09 Prohibited2009/10 Dynamics CRM) to allow for more land on the north side of the Brisbane Development; with different levels effective management of our River at Bulwer Island. of assessment applying to each. customer information, and enhanced The Land Use Plan contains a number methods of communication. During the year we continued negotiations with existing landowners of Development Codes and standards, Our Customer Call Plan assists our and tenants in the area, and we which will be used to regulate Business Development team to began working with the Brisbane City development outcomes. The new ensure targeted, regular contact Council regarding the Local Area/ plan will require the approval of the with key port customers throughout Neighbourhood Plan for Pinkenba. Queensland Treasurer and be adopted each financial year. Personal visits We also progressed with technical and to coincide with the sale of the port, are aimed at strengthening our environmental assessments for land which is expected before the end relationships with customers, by under consideration. Eventually, of 2010. hearing about their business issues, our plan is to develop a dedicated, It is expected that the new plan will and relaying relevant information master-planned wet bulk precinct, undergo a full review within ten years. about plans and activities at called Port North, to provide affordable All future Land Use Plans will require the port. The Call Plan includes and efficient facilities for operators. the approval of both the Minister local, state-wide and interstate for Transport and the Minister for visits to customers. Infrastructure and Planning. 26 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our operational performance
We recorded an increase of 26% in motor vehicle imports for the year.
Deliver on our Ongoing consultation with industry Occasionally, due to size constraints will further refine our plan for or schedule conflicts, the Port of infrastructure projects development of Port West, and we Brisbane is required to host day hope to secure the first tenants during visits from cruise ships at Fisherman Port West on track for development the next financial year. Islands. The Port West precinct, located at The current Port of Brisbane To ensure these visits are adequately Lytton approximately six kilometres Motorway ends just before the catered for in the future, in July from the main port complex, is entrance to Port West, where we 2009 we completed construction of currently being prepared for new are planning to build a signalised a permanent passenger processing developments to support the future intersection to allow access to the facility at the port’s Grain Wharf. needs of the motor vehicle and new Radar Street (see diagram on The Multi-user Terminal provides general cargo industries. page 29). We expect to receive an all-weather facility capable of approval from the Department of accommodating all the various The ultimate development will include Transport and Main Roads (DTMR) agencies involved in processing the approximately 90ha of land and up to on the intersection design by the passengers of these vessels, without 900m of quayline. Approximately 24ha end of 2010, and construction will impeding surrounding port operations. of Stage 1 is nearing completion, commence in line with industry subject to the removal of final Since completion, the facility has demand for the land. surcharge and installation of services. accommodated ten cruise ship day Ground improvement works for the See Green light for port motorway upgrade calls. The Multi-user Terminal can also 14ha Stage 2 are underway. Surcharge on page 28. be used for various other types of will then be removed from the Stage 2 functions, due to its catering facilities Cruise ships sail in to Multi-user site and placed on the 7ha Stage 3 and large seating areas, and has been Terminal site for settlement. Test piling has used for this purpose on several confirmed the methodology of wharf Brisbane continues to grow in occasions already. construction, and we are now in popularity as a cruise shipping See www.portbris.com.au/ the final stages of the Vessel destination, with the Portside Wharf facility at Hamilton hosting the shippingoperations/shipping Interaction Study with Maritime schedule for more information on Safety Queensland. majority of vessel calls. cruise ship operations. Our operational performance Port of Brisbane Corporation Limited Annual Report 2009/2010 27
Car sales begin recovery after financial crisis
In 2009 the global motor vehicle Motor vehicle imports Vessels return to capacity 250,000 industry became one of the highest During the worst of the financial profile casualties of the financial crisis. crisis, shipping lines around the 200,000 In Australia, car sales slumped to record world took older and smaller vehicle lows as consumers shied away from carriers off service either for layup 150,000 retail spending. Now, in 2010, we have or to be scrapped. As global demand seen a return to positive growth both continues to increase, the majority 100,000 nationally and in Queensland, and of capacity has now been restored, importers are looking forward to an 50,000 although many lines have replaced even better year ahead. smaller and older vessels with larger 0 new builds. This means importers can Federal incentive boosts business sales bring larger quantities into Australia In an effort to support the nation’s 2005/06 2006/07 2007/08 2008/09 2009/10 on each vessel, so the need for struggling car import industry, in July transhipments into ports like Brisbane 2009 the Federal Government introduced has dropped. a tax incentive scheme to encourage Mining and construction drives businesses to purchase new vehicles. Queensland growth We are expecting growth to continue into the next financial year, however, The scheme offered reduced tax rates on In Queensland, the strong mining and new purchases, at varying rates depending private vehicle purchases are strongly construction sectors in particular drove 500 dependent on domestic market on the size of the business. When the sales of utilities and four-wheel drives. scheme finished in December 2009, new conditions (i.e. interest rates). A pickup in the private market also brought If current conditions hold firm, we vehicle orders across Australia had soared. 400 an increase in purchases of small/light are confident that sales will continue As sales figures are recorded on receipt of vehicles. For 2009/2010 the Port of to grow. The planned entry of a new Brisbane, as the only major port for motor the vehicle, not ordering of the vehicle, the 300 manufacturer, Chery International, to effects of the scheme were not fully seen vehicle imports in Queensland, recorded the Australian market later this year is an increase of 26% over the previous untilExport early 2010full and, in fact, in May 2010 also expected to drive increased sales Australia recorded sales above the highs financial year, equivalent to 202,440 units.200 in the lower price end of the market. of 2007/2008.Export empty Although this growth rate is still below what we experienced in 2007/2008, as the Read more about our trade Import full graph above indicates, it represents a very100 statistics at www.portbris. Import empty healthy increase over 2008/2009. com.au/tradelogistics/ 0 tradestatistics 2005/06 2006/07 2007/08 2008/09 2009/10
Major infrastructure projects
Project Status Berths 11 and 12 Design work complete and supply contracts awarded for To become new container berths for our third stevedore, HPH. Wharf 11, construction to commence in 2010. Berths due for completion in 2012 and 2014, respectively.
Port Drive upgrade and Captain Bishop Bridge duplication Main road and bridge construction commenced in To improve safety and increase road capacity for the future. early 2010. Bridge duplication and road works expected to be complete by late 2011.
New Port Office building Completed in May 2010. To provide a new head office building.
Volvo Commercial Vehicles Australia Completed in January 2010. Office/warehouse facility at Eagle Farm estate.
Perrin Creek Project at Colmslie Completed in November 2009. Creek realignment for flood mitigation purposes.
General Purpose Facility Wharf completed in July 2009, terminal completed in New general purpose wharf and terminal at Fisherman Islands. October 2009.
Construction of Curlew Street at Fisherman Islands Completed in October 2009. For access to Terminals 10-13 and FPE area.
New Multi-user Terminal at the Grain Berth Completed in July 2009. For accommodation of cruise vessels at the Grain Berth. 28 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our operational performance
Progress on track for new Goodwill agreements reached with container terminals local indigenous groups During the year we continued with We maintained our good relationships the construction of our next two with traditional owner groups that container facilities – Berths 11 and have a linkage with Fisherman 12 – to be operated by the port’s new Islands and other port operational stevedore Hutchison Port Holdings areas. Importantly, we signed a (HPH). Design work for Berth 11 formal agreement with the Jagera is now complete, and construction and Quandamooka in relation to: is expected to commence later native title at Fishermen Islands, We are on schedule this year. Development dredging consultation, promoting cultural for Berth 11 is now complete, and heritage, and future employment with the development ground improvement work on the opportunities. As part of our of Berths 11 and 12. terminal area is nearing completion. commitment to supporting local Development dredging is also indigenous artists, we purchased a underway for Berth 12, and ground variety of artworks from both groups improvement work on the terminal for our new Port Office. area is ongoing. Once complete, Berth 11 will offer 350m of quayline length, and Berth 12 will offer 310m. Facilitate improved port access Land development works push ahead Last year we reported on the Green light for port motorway completion of a major ground upgrade improvement trial at our Future Port Expansion (FPE) area. The trial allowed One of the most critical issues for us to develop new techniques to access to the Port of Brisbane is help us speed up the consolidation the upgrade of the Port of Brisbane process and make new land available Motorway – which connects the more economically. port with the major southbound and northbound arterials. The successful trial won high praise from industry experts, and we were The Queensland Government is pleased to receive the State Award for undertaking the $332 million upgrade Innovation at the Engineers Australia as part of its long-term plan to meet Queensland Division Engineering the transport needs of the Port of Excellence Awards 2009. We are Brisbane and the Australia TradeCoast continuing to roll out the techniques region. The upgrade will provide developed through the trial across a two-lane motorway-standard other areas of the FPE, including new connection from the Gateway wick drain sites for the Bishop Drive Motorway to Pritchard Street. Estate and the back-up areas for Included in the proposal is a Terminals 11 and 12. grade-separated interchange In April this year we also began at Pritchard Street. another new trial at the FPE, this The project will be undertaken using a time looking at mud drying. We have double Early Contractor Involvement excavated and lined nine ponds, and (ECI) model. placed thicknesses of dredged mud into each one. We are now monitoring Double ECI involves selecting two each pond on a regular basis, to contractors to develop concept compare drying rates. At the end of designs in parallel; one of these the trial we hope to have a better contractors is then selected to understanding of optimal thicknesses undertake detailed design and and timeframes for drying dredged construction. material. See page 60 for more on the mud drying trials. Our operational performance Port of Brisbane Corporation Limited Annual Report 2009/2010 29
Proposed road access to Port West The few remaining port operations in the Northshore precinct will eventually move to other locations. However, in the meantime, these tenancies will Port West be managed by PBPL, via a concurrent lease, until they expire.
PORT DRIVE PORT The Northshore Riverside Parkland was also transferred to the ULDA, but PBPL will continue to operate the Northshore Riverside Café as a Port RADAR STREET FREIGHT STREET of Brisbane outlet until the ULDA requires us to vacate the premises or an alternative tenancy arrangement is put in place.
Works finalised at City Reach Since the early days of port operations In May 2010, the government Manage strategic in Brisbane, PBC has held a number announced the two shortlisted of wet leases in the City Reach of the contractors – Leighton Contractors investments and Brisbane River. Some of Brisbane’s and a Seymour Whyte/BMD joint undertake associated best-known restaurants are located venture. The successful contractor along this stretch of the river, along will be chosen later this year, and business activities with the City Reach boardwalk, construction is due to commence a much-used pedestrian and cyclist in early 2011, with completion due Northshore off to a flying start corridor for city commuters. in 2013. Our Northshore Development Group During the year we completed a The State Government will continue has worked hard over the last five $3.5 million repair program to resolve to seek funding from the federal years to apply the highest standards a range of safety and engineering government to provide a four-lane of planning and development to the problems along the boardwalk. upgrade to the entire motorway from Northshore Hamilton precinct. We also progressed with negotiations the Gateway Motorway to Pritchard We reached two significant surrounding liability for payment Street, in line with the ultimate plan. milestones with the precinct this among the many parties involved. Read more about the motorway year. We successfully negotiated It has been our aim for many years upgrade at www.portbris. with Brisbane City Council for the to divest this non-strategic land to a com.au/portdevelopment/ establishment of a new Northshore infrastructureprojects more appropriate management entity, Hamilton CityCat terminal, and and the Queensland Government’s The motorway upgrade will also have finalised the sale of a 1.8ha parcel implementation of its Renewing implications for road access into the of land for residential development Queensland Plan provided an avenue Port West precinct. to Australand Property Group. for this to occur. The Treasurer Construction is set to begin in 2011, See Port West on track for development on announced during the year that the page 26. and the initial development will deliver City Reach land would not be included 150 new homes to the precinct. in the package of port assets to be Brisbane wins new contract During the year, the Queensland sold. On 1 June 2010, these leases in Newcastle government determined that our were officially transferred to the This year our ocean-going dredger the landholdings at Northshore Hamilton Department of Public Works, and the Brisbane travelled to Newcastle, to would not be included in the sale Gardens Point pile moorings were complete a dredging contract for the of the Port of Brisbane; they were transferred to DTMR. The transfer Newcastle Coal Infrastructure Group’s to be transferred to the Urban Land means our resources can now be new coal export facility. The vessel Development Authority (ULDA). directed towards the management also completed dredging contracts of more strategic port assets. for other Queensland ports, including The official transfer to the ULDA Bundaberg, Townsville, Weipa, Cairns, occurred on 9 April 2010. The ULDA, Gladstone and Karumba, in addition to a Queensland Government Authority, carrying out channel maintenance and will now proceed with all future capital dredging work in Brisbane. planning and development of land at Northshore. One member of our Northshore team was also transferred to the ULDA, to continue their important work in supporting this development. 30 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our operational performance
Our Project Manager, Mansoor Abul, with BMD Constructions Project Manager, Ven Vecchio.
Stage 1 construction
Future construction
Railway
Bridge
Bridge delivered to Port of Bundaberg PBC continued to oversee completion Boat harbour upgrades completed As part of the Renewing of the project, on behalf of GPC, and During the year we reached final Queensland Plan, the Queensland the project was completed in early completion of an extensive project Government announced that 2010. After an extensive feedback to improve navigable access and PBC’s responsibility for the Port of and consultation process with the accommodate new marina berths Bundaberg would be transferred to local community, we also completed at Manly Boat Harbour. Gladstone Ports Corporation (GPC). the Port of Bundaberg Land Use Plan The majority of works were completed The transfer officially took effect during the year. It was approved by during 2008/2009, but this year saw from 1 November 2009. shareholding Ministers, and has now been adopted by GPC. the completion of the project, Prior to the announcement of the including marina extensions for transfer, we had made significant We were extremely pleased to Moreton Bay Trailer Boat Club Marina progress on the delivery of the complete these important and highly and Royal Queensland Yacht Squadron Wallace Creek Bridge project anticipated milestones for the Port Marina. The harbour now offers a (connecting the Burnett Heads of Bundaberg. safer passage for navigation, and Boat Harbour to the main port area). an increased number of marina Although significant delays were berths to satisfy growing demand. experienced in obtaining all the To complement the previous relevant approvals, we were able to upgrade to the northern car park at begin construction in August 2009. Manly, we also installed additional seating along Norfolk Point. Our operational performance Port of Brisbane Corporation Limited Annual Report 2009/2010 31
New bridge to ensure safe and efficient port access
The Captain Bishop Bridge is a critical Key project timings access point for vehicles accessing the Port of Brisbane. It was originally Key activity Status constructed in the 1970s, and designed to 1. Earthworks, including placement of fill material, Complete meet traffic and load bearing requirements at the time. Several decades on, the along Port Drive north of Lucinda Overpass. bridge is no longer adequate for the port’s 2. Construction of new Captain Bishop Bridge (west) Underway needs, so we have begun a major project to duplicate the bridge and upgrade the Construction of new interchange at Lucinda associated roads. Drive/Port Drive The project will ensure we can maintain Construction of new roundabout at Port Drive/ safe and efficient access to current and Bulk Terminals Drive future port facilities. Once the project is complete, Lucinda Drive will become the 3. Replacement of existing Captain Bishop Bridge (east) Yet to commence main thoroughfare for port traffic, with Port Drive becoming a secondary road. Each bridge will be three lanes, including Benefits for the future Scope of works a merging lane that is required for traffic Completion of this major project The scope of the works includes: from the future Kite Street overpass, which will ensure the port is equipped is planned for construction after completion to handle the traffic demands of • the construction of a new western of the Port of Brisbane Motorway Upgrade. bridge over the Boat Passage, increasing trade, with freer-flowing There will also be some minor works traffic movements in and out of the effectively duplicating the Captain undertaken near the Kite Street roundabout Bishop Bridge. port, and safer access particularly for to link the existing road to the new Captain heavy vehicles. The second bridge • the replacement of the existing (east) Bishop Bridge. Captain Bishop Bridge with a new will reduce the risk of port closure if bridge (both bridges will be able to Future works to duplicate Lucinda Drive a bridge is damaged or an accident handle current loading requirements for are not likely to be required until the Port of occurs, and the overall project will heavy/wide-load truck traffic). Brisbane Motorway Upgrade is completed provide the required connection • an upgrade of the Lucinda Drive and to a full four-lane standard between the between the Port of Brisbane and the Port Drive interchange by providing: Gateway Motorway and the port. Port of Brisbane Motorway Upgrade, – ne w separate off and on-ramps from, once it is completed. and to, Lucinda Drive Read more about the project at – a separate northbound lane to the www.portbris.com.au west of the Lucinda Overpass from Captain Bishop Bridge (west) to Bulk Terminals Drive.
At Scarborough, PBC, in partnership The ultimate development is planned We were extremely pleased that these with DTMR, completed an upgrade to include new marina berths, marina employees were able to continue to to the boat ramp at Bird O’Passage amenities, and a facility for a non-profit provide DTMR with the knowledge Parade, which included the addition youth foundation (the H4 Foundation). and expertise they possess to assist in of a queuing pontoon. Additional the management of these significant The Treasurer announced in August lighting was also installed to the commercial and community assets. 2009 that PBC’s recreational Thurecht Parade car park area. boat harbours – including Manly, We are also very proud of what we Also in partnership with DTMR, Scarborough, Cabbage Tree Creek and achieved with our boat harbours over we completed an upgrade to the Gardens Point – would not be included the last few decades, and we know we Cabbage Tree Creek boat ramp, which in the sale of the Port of Brisbane. have left a positive legacy behind us. included the addition of a queuing After a significant amount of work to pontoon and installation of additional prepare these assets for handover, lighting to the car park area. the official transfer to DTMR occurred After significant delays due to approvals on 1 June 2010. The transfer also and business conditions, Compass involved three PBC employees, who Marinas began work on the new were transferred to DTMR so they Redcliffe Marina project at Scarborough could continue their important roles Boat Harbour. Dredging was completed in managing these facilities. in May this year, and landside works are continuing. 32 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our operational performance
Perrin Creek realignment completed New campaign for port security Our last remaining area of Our Port Security team had undeveloped land at Colmslie includes another busy year during 2009/2010, Perrin Creek, an important waterway including involvement in several major for local flora and fauna. However, crisis exercises. We held two major, its original location made the site, and multi-agency exercises, one focusing upstream areas of Morningside and on a terrorism event, and the Cannon Hill, prone to flooding, and other focusing on operational events. did not allow for the most optimal Both exercises were run successfully, development of land. To resolve these and highlighted a number of areas This year we issues, last year we completed a where enhancements could be $1.7 million project to realign Perrin made to existing security and completed the third Creek. The realignment involved emergency plans. significant planting of vegetation, building in the Port It has now been over five years since including mangroves, along the new international port security changed Central precinct, creek alignment. dramatically in response to worldwide a new head office We reached completion of the terrorist events. In that time, PBC building. project in November 2009. We are has issued over 20,000 maritime now progressing with commercial security identity cards in Queensland, development plans for the area. and responded to countless security situations across the Port of Brisbane. At Eagle Farm, the completion of the new Volvo Commercial Vehicles We believe there is a high level Australia office and warehouse of awareness of our port security facility means this area is now fully arrangements across the port developed. community; however, reports of suspicious behaviour are not as New Port Office opens for business prolific as they could be. To respond Port Central is a 9ha precinct in the to this, in June 2010 we began a new middle of the Fisherman Islands communication campaign, aimed complex – master planned and at encouraging port employees designed to be the commercial heart and visitors to report suspicious of the port community. This year we behaviour. The campaign will run over completed the third building in the a six-month period and will include Port Central precinct, our new head outdoor signage, brochures and other office building. Our workforce had materials, as well as presentations outgrown the existing Port Office, from Queensland Police Service and we had employees spread and Port Security representatives. across a number of different At the end of the campaign we hope worksites. The new Port Office, to see a marked increase in reports completed in May 2010, brings of suspicious behaviour across the the majority of our workforce back port community. together, and provides us with ample See www.portbris.com.au/aboutus/ room to grow in the future. security for more information on The new Port Office also represents port security. another significant milestone; it is our third Green Star building, and the first Drive port efficiency and office building in Australia to receive a 5 star Green Star design rating sustainability (version 3) from the Green Building Council of Australia. It has taken a Forums help drive efficiency gains huge amount of careful planning, During the year we continued to research and persistence to achieve focus on productivity gains across this rating, and our employees are the port, on both the landside and the already enjoying the benefits. waterside. Forums like the Landside We are now intending to lease the Logistics Forum and the Waterside former Port Office building to new Logistics Forum continue to play a commercial tenants. vital role in allowing us to gain insight See The green edge on page 59 for more into the supply chain. Activities in this information on the new Port Office building. area for the year included: Our operational performance Port of Brisbane Corporation Limited Annual Report 2009/2010 33
Our Senior Coordinator BMT, Clint Gee, with IT Analyst, Michelle Thomas.
• working towards gaining more In another positive move towards A prime example of a shared bulk comprehensive data from a greater efficiencies, both Patrick and facility that was nearing capacity was number of stakeholders to enhance DP World implemented automated the Fisherman Islands Bulk Wharf, performance measurement paperless receival and delivery which is used to exchange both • gaining agreement from GrainCorp systems at their container terminals coal and clinker. Both products are to develop a new Truck Park Area during the year. Although the expected to continue strong trade for grain trucks, to assist them to stevedores are using slightly different performance in coming years, so to overcome future congestion and systems, both are seeing significant ensure we avoid congestion at this meet their Chain of Responsibility time savings due to the lack of wharf, the new General Purpose obligations physical paperwork to be processed. Wharf was built to accommodate • agreement by DTMR to provide a clinker imports (among a range of number of webcams on the roads New IT system for BMT other commodities). leading to the port, at locations In early 2010, we converted the After the completion of the General selected by port stakeholders existing IT system at the BMT over to Purpose Wharf, Sunstate Cement • the installation of two more a new system called the Rail Terminal invested $17 million in a new webcams on Fisherman Islands System (RTS). The previous system conveyor, to link their processing • further planning for an automated was based on outdated technology, facility to the wharf. Sunstate now truck weighbridge at the BMT and didn’t allow for easy integration has greater operational flexibility, as • the expansion of facility operating with other operational processes. they can import clinker through both hours on the port website The new, Windows-based RTS allows facilities depending on availability. • gaining approval from DTMR for the user to complete a number of SAMI Bitumen Technologies opened Chalmers to trial a new, more actions within a single multifunctional their new state-of-the-art bitumen efficient truck configuration at screen. The new system also fully import and processing facility, Fisherman Islands supports our disaster recovery adjacent to the QBH facility, during the • implementation of a new web-based facilities. Employees at the BMT year. To allow for the most efficient system to allow better use of have already reported significant operation, SAMI also constructed productivity and service level data productivity gains with the new a pipeline to connect their storage by PBC. system, due to simplified navigation tanks to the General Purpose Wharf, and quicker system response times. Last year we also reported on the allowing product to be transferred development of our online system for New shared facility to avoid directly from ship to terminal. tracking the movement of dangerous potential congestion We are now working on other goods throughout the port, DGTrac. The port has a number of opportunities to expand the use of All shipping lines are now successfully multi-user or shared facilities to this additional port infrastructure for using the new system, and we have promote maximum utilisation and multiple commodities, to maximise a much more reliable, accurate and avoid duplication of infrastructure. its utilisation and our return on streamlined process for tracking However, with increasing cargo investment. these goods. volumes and ship calls some See Our environmental performance on infrastructure has the potential pages 49-66 for more about our sustainability to become congested. initiatives. 34 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our operational performance
Key Performance Ship arrivals 2700
Indicators (KPIs) 2600
Our database of KPIs monitors the 2500 productivity and service levels of the The ship-arrival trend shows a decrease different service providers at the port. over the long term due to the fall in The KPIs showcased in the following growth of trade volumes in 2008/2009 2400 pages demonstrate the productivity along with increased exchanges by ship. factors that determine the capacity The recent improvement is due to an 2300 of the port, as measured by teus per overall improvement in trade, in particular container and motor vehicle volumes. quayline metre, and teus per hectare. 2200 By focusing on growth, volume, July 05 July 06 July 07 July 08 July 09 June 10 productivity and service factors, we can determine the required future investment in cargo-handling Average container exchange 1000 facilities. Significant increases in per vessel trade volumes can impact on service 800 delivery. Our aim is to balance the 500 maximisation of throughput with the need to maintain access and high 400600 service standards for port users. 400 The following graphs show data over Container exchanges have been increasing 300 a five-year period, with each month as larger container vessels visit the port,Export with afull significant improvement in shown as a separate bar. 200 exchangesExport empty over the last 12 months to over 800 containers per vessel. Import full 1000 July 05 July 06 July 07 July 08 July 09 June 10 Import empty 0 2005/06 2006/07 2007/08 2008/09 2009/10 Berth utilisation 70 (%) 60
50
40 This graph, which relates to ship usage of 30 the berths at the Port of Brisbane container terminals, indicates a steady decline in 20 utilisation. This decline is due to increased ship exchanges and an improvement in 10 productivity at the wharf front. 0 July 05 July 06 July 07 July 08 July 09 June 10
Teus per quayline metre 700
This illustrates the efficiency of quayline 600 usage and measures the annual container throughput divided by the total length of the quayline. There has been a steady decrease 500 in usage with a significant decline in 2009 due to slowing trade and an increase in 400 quayline available for use. There has been an improvement in performance over the last few months. 300 July 05 July 06 July 07 July 08 July 09 June 10 Our operational performance Port of Brisbane Corporation Limited Annual Report 2009/2010 35
Yard utilisation 20 (‘000 teus per hectare) Container exchanges have been This illustrates the efficiency of yard 18 increasing, as larger container usage and measures the annual container vessels visit the port. throughput divided by the total yard area, 16 measured in teus/hectare. There has been a steady decrease in utilisation with a 14 significant decline through 2009; this is 12 due to slowing trade and an increase in yard available for use from the beginning of 10 2009. There has been an improvement in performance over the last few months. 8 July 05 July 06 July 07 July 08 July 09 June 10
Teus per container 1.55
1.50
1.45
1.40
1.35 There is a growing trend towards using forty-foot containers, recorded as two teus, 1.30 which impacts favourably on the efficiency of all ports. 1.25 July 05 July 06 July 07 July 08 July 09 June 10
Net crane rate 35 (containers per hour) 30
25
20
15
10 The net crane rate has trended upwards in recent years with notable improvement for 5 both stevedores over the last three years. 0 July 05 July 06 July 07 July 08 July 09 June 10
Crane intensity 2.0
(cranes per ship) 1.9
1.8
1.7
1.6
1.5 This graph indicates that crane intensity 1.4 has increased relative to previous years, through the introduction of new cranes 1.3 by stevedores. 1.2 July 05 July 06 July 07 July 08 July 09 June 10 36 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our operational performance
Outlook
Accelerate and plan for trade and Development of Berths 11 and 12 will Drive port efficiency and revenue growth continue, with the commencement sustainability In the year ahead we will continue of wharf construction and ground We are predicting more substantial to support port related industries, improvement works. We expect to have trade increases across a number as economic conditions are expected increasing involvement with HPH on of commodities, and it is essential to steadily improve. Our Business the project, as they progress with their that we are prepared to handle Development team will play a key part arrangements for operation in 2012. increased volumes. in working with and supporting our customers to ensure we are meeting Facilitate improved port access In the year ahead, work will begin on their changing needs. We are extremely pleased to see things the new Truck Park Area at GrainCorp, progress with the Port of Brisbane as this will provide an important At Port West, ongoing consultation Motorway Upgrade, with construction set facility for managing congestion and will continue with the motor vehicle to commence in early 2011. This project driver fatigue for grain truck drivers. and general cargo industries to further is of critical importance to the future of The network of road webcams is refine the design concept and to secure the port in ensuring a safe and efficient set to expand, with the port website tenants for the first parcel of land. road network. providing a comprehensive listing. We will also complete construction We plan to make significant progress At Fisherman Islands, as construction of the new weighbridge at the BMT, on the development of our wet bulk continues on Berths 11 and 12 we will to assist stakeholders and especially precinct at Port North, as we work also progress our planning concepts for trucking operators with managing with stakeholders to develop a the new Heavy Transit Corridor, which will truck weights. precinct masterplan. provide a dedicated freight access corridor for rail and road movements. On the waterside, next year we will On adoption of the new Land Use Plan, be putting in place a new online which will guide future development Manage strategic investments and ship tracking system (Port Brisbane at the port once it is privatised, we Vessel Tracker), to give port users a will develop information sheets to help undertake associated business Our social performance activities more visual, more detailed interface stakeholders understand the provisions for monitoring vessel traffic. Another Now that our interests in boat harbours, of the new plan and particularly how significant project will involve an Northshore Hamilton, the Port of this affects our tenants and port users. upgrade to the Dynamic Under Keel Bundaberg, and legacy land like City Reach Clearance (DUKC) system. We will The sale of the port is expected to be have been transferred, we will continue be trialling additional sensors on the finalised by the end of 2010, subject to focus our resources on port-related existing MSQ navigation beacons, to to market conditions, and there is activities. still a significant task ahead for our obtain more detailed data to eventually people in preparing the business for As our employees settle in to the new Port expand the available windows for this transition. A primary focus will Office building, marketing of the balance of deeper draft vessels to access the be on maintaining continuity for our the Port Central precinct will move ahead. port. Two Directional Wave Rider customers, as the business of the port Buoys (DWRB) will also be deployed, Our mandate for sustainable development must go on regardless of this process. which will assist in determining wave in this precinct will continue. response and also improve the safety Deliver on our infrastructure projects Our new security awareness campaign will and efficiency of the DUKC system. Construction on the Captain Bishop be rolled out across the port community, See pages 60-61 for information on Bridge project will move into a and in the next year we hope to report our greenhouse gases and energy significant phase in the next year, and a substantial increase in reports of performance, and pages 38-48 for our Port Development team will be suspicious behaviour. information on our people, learning and working hard to ensure it proceeds growth performance. on schedule and with minimal traffic disruption to the port.
We are predicting more substantial trade increases across a number of commodities in the year ahead. Insert section title Port of Brisbane Corporation Limited Annual Report 2009/2010 37 About this report IFC
Our vision, mission and values IFC
Our highlights 1
Our organisation 2
Privatisation milestones 3
Chairman and CEO’s report 12
Key corporate strategies 16
Our operational performance 21
Our social performance
Our environmental performance 49
Corporate governance 67
Our economic and financial performance 77
GRI content index 90
Independent Verification Statement 95
Index 96
Glossary and abbreviations 98
Port of Brisbane map 100
Contact us 102
Feedback form 103
Our financial reports (on CD) IBC 38 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our social performance
Our employees A focus on privatisation Good communication plays an integral role in supporting our Change and transition management practices. During this As at 30 June 2010, PBC employed year of transition we supplemented 338 people in over 20 different our internal communication methods professions and trades in permanent to ensure that our employees full-time, permanent part-time, casual were well informed to deal with and temporary roles. the changes ahead. The impending change and transition To understand the material issues Our goal is to empower of the organisation from a government facing our employees, and to assess our people to reach owned corporation to a privately their level of engagement, in October owned company has been a major 2009 we conducted a Climate Survey. their professional theme throughout the year. A key challenge has been to provide our The survey comprised an online potential by ensuring people with the necessary support component that was open to all their safety, health and tools of leadership, resilience and employees, and interviews and adaptability to meet the organisation’s focus groups of a random sample of and well being, and current and future business needs and about 51% of staff. It revealed that providing opportunities ensure an effective transition in the our engagement level at the time coming year. remained strong and that the sale for growth. of the company, and its impact on To achieve this outcome the focus for employees’ future was the major the year was to provide key people material issue. The survey results systems that addressed: were made available on the Intranet. • the culture of the organisation Regular emails were sent by the Chief • recruitment, selection and Executive Officer to all employees, onboarding and regular staff meetings were • employee conditions and benefits held throughout the year where the • workforce planning Chief Executive Officer addressed all • managing performance employees about the sale process, • health, safety and operational risk its progress, and its impact on • learning. employees’ working conditions.
Age profile – all employees 80
30 June 2010 70
60
50
40
30
20 Female 10 Male 0 Years of age 15-24 25-34 35-44 45-54 55-64 65+
Employees length of service 200 30 June 2010 180 160 500140 120 400100 80 30060 40 Export full 20020 Number of employees Export empty 0 Import full Years of service 6-100-5 11-15 16-20 21-25 26-30 31+ 100 Import empty 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400
300
Export full 200 Export empty
Import full 100
Import empty 0 2005/06 2006/07 2007/08 2008/09 2009/10 Our social performance Port of Brisbane Corporation Limited Annual Report 2009/2010 39
A checklist of changes as a result of the sale process was provided for Planning Executive, Dave Hertweck, and Corporate Affairs Assistant, staff. And the Intranet was used to Katrina Doherty, at work in the 5 Star Green Star rated Port Office. provide information on the employees directly involved in the sale process, the activities surrounding sale of the company and the progress of the process.
Recruitment slows The biggest impact on recruitment during the year was the global financial crisis. The downturn in the global economy, combined with the divestment of the Port of Bundaberg, boat harbours and Northshore Hamilton, saw staff numbers decrease from 387 in 2008/2009 to 338 in 2009/2010. While the global financial crisis forced some hard decisions, it also presented some opportunities for internal staff movement and promotion. We had 16 internal staff movements throughout the year. Total staff turnover for the year was 9% (excluding temporary employees and casuals), which is similar to last year’s turnover. Our Onboarding Program and associated ‘Buddy’ system continued to provide a consistent experience for new employees, enabling them to establish networks and become more competent in their role as quickly as possible.
Safety results disappointing PBC is committed to providing a safe and healthy workplace for staff, contractors, and visitors, ensuring they return home safely at the end of each day. For this reason Safety First is our number one value, and our Health and Safety policy is available on the Intranet and the website. Our safety target is zero LTIs. We believe this target is achievable, but in 2009/2010 six of our employees experienced a LTI (this represents a Lost Time Injury Frequency Rate of 9.1). This is far too many and continues to be a disappointing result, as it is an increase on three LTIs last year, and meant that employees injured themselves on the job. Port Office
Operations Base
Brisbane
Visitors Centre and Port Central Café
BMT
Reclamation
Landcare
Jetty Kiosk at Manly
40 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our social performance Northshore
Corporate Office
Lost Time Injury Frequency Rate No. of employees at work sites 2009/2010 (No. of Lost Time Injuries per 1,000,000 work hours) Port Office 12 Operations Base
10 Brisbane
Visitors Centre and Port Central Café 8 BMT
6 Reclamation
Landcare 4 Jetty Kiosk at Manly 2 Northshore Riverside Café
0 Corporate Office 2005/06 2006/07 2007/08 2008/09 2009/10
With the aim of reducing injury and • Health – Workplace Health A variation is any deviation from achieving our zero LTI safety target, Program (mandatory activities normal practice as defined by PBC’s during the year we developed a set of such as pre-employment medicals policies, standards, procedures
key health and safety systems. These500 and site specific fitness for work and guides. systems aim to integrate health and assessments); Healthy Lifestyle A variation may relate to a health, safety across all levels and activities of Program (voluntary activities such safety, environment, process or the company. The systems include: 400 as health assessments, flu shots quality practice. Variations encompass and skin checks). • Communication and consultation – both negative and positive practices 300 • Variation reporting and investigation leadership and training, health and include: – timely reporting and follow- Export full and safety committees, employee through investigation of incidents. • injuries to employees or communication. 200 Export empty non-employees • Managing risk – ISO assessments See www.portbris.com.au/ • an impact on the environment Import full and risk registers across all 100 aboutus/healthandsafety • damage to property work sites. Import empty • near miss • Workplace activities – integrating What is a variation? 0 • impact to work practices risk registers into day-to-day To encourage a safety culture based on 2005/06 2006/07 2007/08 2008/09 2009/10 • an impact on a work process management responsibilities. appropriate behaviours, and introduce • inadequate chemical storage • Rehabilitation and return to work – lead indicators that encourage • an innovation practical and active rehabilitation transparency and leadership, we • a demonstration of health and and return to work plans. replaced our incident reporting system safety leadership. with variations reporting.
Workforce profile Aboriginal and Torres Strait Islander people 2 Non-English speaking backgrounds 25 People with disabilities 36 Employees aged 45 years and over 153 Average age 43 years Average length of service 7.7 years Award employees 273 Non-Award employees 65 No. of females 108 No. of males 230 Women in the workforce 2005/06 28.0% 2006/07 28.8% 2007/08 32.3% 2008/09 32.6% 2009/10 31.9% Women in management 2005/06 2.9% Operations employees are 2006/07 2.1% instructed on loading a 2007/08 2.4% motor vehicle as part of 2008/09 2.3% our Safety First program. 2009/10 3.3% Our social performance Port of Brisbane Corporation Limited Annual Report 2009/2010 41
Class A Health and Safety Variations during 2009/2010
Incident Preventative action An employee was towing a trailer on a A team meeting was held to discuss the incident and findings. The risk register was motorway when the rear wheel of the amended to include transit checks. A Team Brief item communicated to all employees trailer fell off. how to avoid this kind of incident.
A dredge pump inspection door on the Engineering solutions were devised to relieve sudden pressure changes in the event dredger, Brisbane, gave way causing of a blockage and to prevent blockages, with installation scheduled for the next refit. minor flooding. Emergency response procedures and bilge alarm assessed. Risk register amended.
An employee exiting a dozer cabin A Toolbox Talk was held to discuss the incident and to remind operators of maintaining slipped and fell hitting his head on the three points of contact at all times when entering and exiting the machine. blade of the machine.
An employee aboard the dredger, Brisbane, Control measures were increased, e.g. hatches were highlighted with highly visible narrowly missed falling down an open paint and a chain system implemented to prevent people entering an open hatch. hatch door. Risk register amended.
An employee experienced a near miss Truck management plan reviewed. Reinforced with operators the need to comply with when he had to stop suddenly to avoid the plan. hitting an incorrectly parked semi-trailer.
An employee experienced a near miss Truck management plan reviewed. Reinforced with operators the need to comply with when a truck he was travelling behind the plan. stopped and reversed towards his vehicle.
Contractors were observed working A Working Beside Roads Working Party was formed and a Working On or Beside Roads close to the road with their backs facing Guide was developed. the traffic.
Class A variations The committees are as follows: Risk registers We classify our variations under the • Workplace Health and Safety Our risk registers identify and define following categories: Representatives Forum – acceptable levels of health, safety, quality and environmental risk. They Class A – extensive potential or 10 members elected by staff; outline the levels of control required actual injury or illness, loss of life, meets every six weeks; identifies so that people are only exposed to environmental harm or property loss. and makes recommendations on relevant safety issues. an acceptable level of risk. All risks, Class B – significant potential or • Workplace Health and Safety and key actions to address risk, are actual injury or illness, loss of life, Officers Forum – 8 members reported to the Board and People and environmental harm or property loss. nominated by management; meets Culture Committee meetings. every six weeks; advisory role to Class C – potential or actual minor Developing our people non-disabling injury or illness, employees; implements workplace Leadership continues to underpin environmental harm or property loss. health and safety initiatives. • Health and Safety Committee – PBC’s culture and is critical to Seven Class A, 16 Class B and 1,006 24 members, including all ensuring that we can sustain a resilient Class C variations were reported in Workplace Health and Safety workforce that can work efficiently 2009/2010. Five of the six LTIs were Officers and Representatives, and safely. Class B variations and one was a and eight permanent observers During the year, we completed our Class A variation. (including a Chairman and internal Here for the Future leadership Secretary) appointed by Health and Safety Committees development, for 75 staff without management; meets quarterly; current staff responsibilities. PBC has three health and safety reviews our health and safety forums. They facilitate ongoing program and performance and See Case study: iInnovate as part of the future on page 43. communication between employees makes recommendations on health and management about leading, and safety initiatives. coaching, implementing and monitoring health and safety standards, initiatives and performance. The three forums are interdependent and use each other to support and guide outcomes. The minutes of the three forums are published on the Intranet. 42 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our social performance
Six Here for the Future workshops were held during 2009/2010 with 75 participants in total. L to R: Engineering Surveyor, Neville Beavis, Learning and Development Coordinator, Julia Baker, Administrative Assistant, Jennifer Tucker, and Environment Officer, Melanie Dixon.
Middle managers completed a The program is designed to encourage Equality and diversity Leading to Performance workshop, self-development and contribute to our We support Equal Employment to assist them to better manage the leadership continuity and succession Opportunity and merit-based performance of their team members. planning. Currently 15 staff members equity in recruitment and selection. They also attended a Leading People are participating in the program. The Diversity Statement Plan, the through Transition workshop, to prepare In 2009/2010, we invested $728,841 Harassment and Bullying Standard, them to support and communicate in learning and development, or and our Code of Conduct are available with their staff through privatisation. $2,156 per employee. This figure on the Intranet, and Workplace Managing career development and includes course fees, salaries, travel, Contact Officers are available to assist performance is critical to developing meals and accommodation, but employees if workplace issues arise. our people. Our development and excludes study assistance. It is disappointing to report that one performance framework combines Staff spent 8,424 hours in total, or formal workplace complaint was capabilities and behaviours that are 24.9 hours per employee in learning lodged with management during formally reviewed every six months. and development activities. Eighteen 2009/2010. The complaint was Employees are encouraged to take of our employees were assisted investigated and resolved. ownership of their development to undertake external study, via a progress. In 2009/2010 seven of Our Women@Work program contribution to their course fees, the 18 employees receiving study continued to provide this target group text books and flexible work options, assistance, successfully completed with the support required to: compete to allow them to attend classes and their qualifications. for roles within the organisation; sit exams. request relevant development During the year we piloted an internal opportunities; have career prospects mentoring program to connect people beyond the short-term; and be inspired with more experienced managers to achieve leadership success. from across the organisation. Our social performance Port of Brisbane Corporation Limited Annual Report 2009/2010 43
iInnovate as part of the future
As part of our strategy to develop • Ho w to successfully seek, give and • Contractor Request Form – a leadership and innovation culture receive feedback. a web-based request and reporting throughout the organisation, during the • How to be innovative and help create a tool that includes a list of current year we rolled out one of our specially culture of innovation. contractors on the Intranet. designed workshops for people who don’t • CEO on the Reel – the filming have a managerial or supervisory role. Innovation was a major component of a of presentations e.g. the CEO team-based activity for each workshop, Quarterly Presentation, to be Since 2007 we have delivered a number where participants had to create an uploaded onto the Intranet and of workshops to our management innovative way of improving the business be available for people unable teams including Licence to Manage, or business practices. Two to three teams to attend. Licence to Lead, Leadership in Focus and competed within each workshop for the • NINE – Now I Know Everything – Performance Conversations. best innovation idea. a page on the Intranet linking all During 2009/2010, 75 of our permanent The members of the winning team were currently available search facilities full-time or part-time Award employees each awarded a shopping voucher to the and systems. in operational and office-based roles value of $100. In addition to the iInnovate program, completed the Here for the Future we presented two employees with workshops. The winning ideas from the teams included: innovation awards. The innovations The workshop assisted participants to included: • iL ink – an online knowledge sharing build clarity, capability and confidence in a • an improvement to our port tours dynamic and ever-changing environment. reference library based on user contributions and key words. booking system that records full The knowledge and skills introduced and accurate data and produces during the workshop included: • Post Implementation Review Process – a review to capture learning and reports on different aspects of our • Ho w to do your best in a dynamic and knowledge at the conclusion of any type port tours at any given time. ever-changing environment. of PBC project. • th e installation of a 350,000 litre • Ho w leadership is relevant to you, • Cr eating a Bug and Defect Management water tank on a port tenant’s lease what it looks like in your role, and how Tool – a hydrographic survey tool to area, providing harvested water to do it well. provide easy and remote access to for the port’s landscaping and a • Th e meaning and value of ‘followership’ information on the many different concession to the tenant for the and how it works in your role. surveying software systems. This tank’s footprint. • Ho w to build better working assists surveyors to solve problems relationships with others. quickly and efficiently and could be used for auditing and training.
Employment conditions Employee benefits • performance related bonus A total of 80.8% of staff members are To address the different needs of opportunities employed under Award conditions. our employees we offer a range of • flexible work arrangements Executive employment agreements benefits to support their career and • succession planning account for the remaining 19.2%. life aspirations. • study assistance • health and well-being support Our Award employees work under PBC contributes up to 12.75% of programs three certified agreements with the every permanent full-time employee’s • paid prenatal/pre-adoption leave Maritime Union of Australia, the salary package to their QSuper Fund • 14 weeks paid maternity/ Australian Maritime Officers’ or their nominated superannuation adoption leave Union, and the Australian Institute account, conditional on their own • child care referral service of Marine and Power Engineers. contribution. Salary sacrifice is also • volunteer leave. These agreements expired in June offered to employees and all staff 2010. New, three-year agreements members are given the opportunity to Listen, engage and reward are being negotiated under the Fair meet with QSuper financial planners. We strive to create a culture where Work Act 2009. Other benefits for Award and we listen, engage, and reward our non-Award employees include: employees for service and innovation. As a result of employee feedback on our internal communication methods, we introduced a number of changes. These included: greater use of the Intranet; the electronic distribution, rather than the posting of our external newsletter, Port of Brisbane News, to all employees; and changes to internal email distribution lists. 44 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our social performance
Our bi-monthly staff newsletter, Port Our Volunteer Day program provides The timing of the assessments was Currents, continues to be posted to all full-time employees with the delayed to August 2010, so only our employees. opportunity to take one day’s paid 35 employees accessed the service leave a year to help out a charity in 2009/2010, compared to 143 in the The Intranet now provides a platform of their choice. In 2009/2010, previous year. We expect the number for staff to post notices of events, 37 employees volunteered a day to significantly increase next year. articles of interest and social club to a number of charities. In addition, 142 employees were activities. It also includes a phone provided with a free annual flu directory, policies, procedures, forms, Many of our employees are also vaccination, and 147 had a skin check. and essential applications like Employee regular donors to the Australian Red Self Service (leave and salary Cross Blood Service that visits the Our after-work fitness classes have information). port every quarter. continued to provide employees with an inexpensive and convenient Team Brief, a fortnightly meeting of all Each year, our social club raises funds access to physical exercise and pilates staff members in each division, allows for a nominated charity, and PBC classes. Over 20 employees regularly for two-way communication on critical contributes to their fundraising efforts. participate in these classes. corporate-wide topics, including In December 2009, the social club safety, major projects, and policy In 2009/2010 we introduced a Health presented Beyond Blue with a cheque changes. In 2009/2010, 25 Team Walk and Breakfast activity to our for $20,705, most of which was raised Briefs were held in each division. program. This year we held three by staff. Guest speakers from other divisions events, where a total of 143 staff can be asked to attend the meeting Balancing work and life walked 500m from our Port Office and provide information on a particular headquarters to the Visitors Centre, Work-life balance is a priority for topic or project. ate a healthy breakfast, and walked everyone in today’s busy workforce. back to the office – all before Quarterly Update sessions are held A healthy and flexible approach to commencing work. for middle managers and supervisors employment is required to tailor to to keep them informed and discuss individual’s needs and one which we PBC also offers employees access business development strategies, believe defines a successful business. to discounted health-care premiums infrastructure projects, environmental with Medibank Private and MBF We offer the following flexible work initiatives and operational issues. health funds. options to employees, where practical: Every quarter the Chief Executive • career breaks (two staff members Systems approach Officer presents to staff the safety, are currently on a career break) Our Integrated Management trade, and financial performance of • rostered days off (the majority of System (IMS) provides a systematic the organisation. He also introduces Award employees are entitled to process to manage the many risks new staff members and presents the one RDO for each four-week cycle) associated with operating a busy innovation awards. • home-based work (ten staff members port, including: our people, safety In 2009/2010 we recognised currently participate in this option) precautions, health protection, injury 25 employees reaching ten years of • phased retirement options (one staff prevention, emergency plans, quality service to the organisation. We also member has taken up this option) work practices and activities, and celebrated ten years service by the • purchased leave (five staff environmental effects. The IMS staff at the BMT, and their exemplary members have taken up this option) contains the policies, standards, safety record. • compressed working week (three guides and procedures required to staff members have taken up manage the risks that impact our For staff that have either left the this option). business. organisation, or taken extended leave, we have a Keep in Touch program. A large number of employees also During the year a surveillance audit Newsletters and regular staff contact make use of flexible start and finish was conducted against our compliance updates them on recent activities. times, to avoid traffic congestion and to AS4801:2001 Occupational Staff on parental leave or career maximise childcare arrangements. Health and Safety Management breaks also have the opportunity Systems and ISO9001:2008 Quality We also provide an Employee to meet with their manager for Management Systems. In the 11 years Assistance Program and a Healthy detailed updates. we have been certified against these Lifestyle Program. standards, we have not been issued Community involvement In 2009/2010, 41 employees with a system non-conformance. The company is committed to making compared to 31 in the previous year, The Board also provides input into a positive social contribution and accessed our Employee Assistance workplace health and safety matters provides employees with opportunities Program. This program provides free through the People and Culture to assist in community activities. advice and assistance to staff and Committee. their families on both personal and In March 2010, employees participated work-related issues. See Principle 8 – Remunerate fairly and in Clean Up Australia Day, and in May responsibility on page 75. 2010 we partnered with Sunfish as the The Healthy Lifestyle Program See www.portbris.com.au/ principal sponsor of the Clean Up the recognises health at work and home. aboutus/corporategoverance/ Pin, with staff members working with As part of the program, employees committessandpolicy for more local recreational fishermen to remove have access to confidential and information. litter from Moreton Bay. free-of-charge medical assessments, provided by the Ford Health Group. Our social performance Port of Brisbane Corporation Limited Annual Report 2009/2010 45
Community and Staff gather at the Port Office for the first Stakeholders Health Walk to the Visitors Centre and back.
Our goal is to develop and maintain a positive corporate reputation by building relationships with our stakeholders that foster mutual understanding and inform our decisions.
Stakeholder diversity PBC has a diverse range of stakeholders, from local community members to port operators, freight forwarders, importers and exporters, and government agencies. In fact, any individual or group that is affected, or has an interest in the activities of the port, we consider stakeholders.
Privatisation is the material issue
PBC holds regular meetings with Stakeholder engagement activities 2009/2010 its business and community stakeholders, including the Government stakeholders Key methods of engagement during 2009/2010 Community Consultative Committee Shareholding Ministers Corporate Plan; Statement of Corporate Intent; (CCC). The CCC meets quarterly quarterly performance reports; regular briefings; and its 12 members represent and updates on relevant issues the business, environmental and community groups with an Government departments Regular briefings; strategic and operational meetings interest in PBC’s activities and the on relevant issues; newsletters; website port’s impacts on neighbouring Business stakeholders communities. Importers, exporters, port Business call-plan meetings; regular forums; The CCC minutes are published operators, stevedores, individual meetings; site visits; surveys; functions; on our website www.portbris. freight forwarders, newsletters; websites com.au/community/ customs brokers, transport consultativecommittee companies, shipping agents, shipping lines, Overwhelmingly the material relevant associations issue for all our stakeholders is the privatisation of the port and the effect Community stakeholders of this change on their organisation. Employees Team Briefs; Intranet; newsletters; inductions; For the community this includes surveys; meetings; staff functions; CEO quarterly the continued ‘above expectation’ presentations; Quarterly updates; emails environmental management of the Community and Community Consultative Committee; port tours; port, financial and in-kind support environmental groups meetings; sponsorships; presentations; newsletters, through our sponsorship program, and visitors websites; Visitors Centre display and the company’s regular interaction in local events and initiatives. Media Media releases; editorials; advertising; enquiries For business, it concerns lease arrangements, pricing, environmental management, and the continuation of regular communication through the business forums. We have addressed these concerns during the process, through established forums, meetings, correspondence from the CEO, and updates on the website. 46 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our social performance
No. of tours by category We now offer a range of tours and The Jetty Kiosk, located at the Manly 6,000 workshops including: Boat Harbour, overlooks the pleasure craft within the harbour. It continues 5,000 • PortEd tour – focuses on to be a popular casual dining venue international trade and the role it for locals and visitors to the area. 4,000 plays in our lives. The Northshore Riverside Café is • PortEco workshop – allows located on the Hamilton Reach of 3,000 students to investigate the flora, the Brisbane River within 2.5ha of fauna, habitats and food chains, 2,000 parkland. It is open seven days a week as well as stormwater management for lunch, and its weekend breakfasts at the port. 1,000 are popular with patrons. • PortFeathers workshop – involves 0 a visit to our 12ha shorebird roost The Port Central Café is located in our – one of the largest constructed Port Central precinct and caters to the roosts for migratory shorebirds on needs of port workers. Free community tours the east coast of Australia. Getting to the port Paid community tours (i.e. Explorer Tour) • PortCareers tour – explores career pathways and workplace activities Unfortunately, in February 2010, Educational tours at the Port of Brisbane. we ceased to operate our public bus service between the local Professional We also work closely with communities of Wynnum and Manly Trade/business Queensland Education’s Moreton Bay and the port. Patronage had remained Environmental Education Centre, and low since the service started in 2003, the local catchment group, Bayside 500 and the cost of running it had become Portcareers slow to start Creeks, to provide a comprehensive unsustainable. We will continue to As part of our commitment to insight into the operations of the port work with Translink (Brisbane’s public the port’s future workforce, our 400 and how its impact on the surrounding transport network operator) to expand Portcareers website has provided environment is managed. public bus services to the port. Brisbane’s port industry with a unique 300 We also conducted 168 guided tours recruitment tool. Since its launch in for 4,433 community members, and Supporting the community January 2009, 61 jobs have been 200 143 Explorer Tours for 774 visitors. In 2009/2010 we assessed over advertised on the site; and over We welcomed 53 business, industry 80 sponsorship applications, and 2,000 people have registered on the and government groups to the port invested $308,183 in community site to receive future job notices. 100 for tours of the port’s facilities. support, including donations, While recruitment remains slow, All our port tours begin and finish 0 sponsorships and free community the site has been a resource for our at the Visitors Centre. tours. This investment represented 2005/06 2006/07 2007/08 2008/09 2009/10 visiting school program, to highlight 0.3% of our pre-tax profit, and a See www.portbris.com.au/ the careers available at the port. community/education for more decrease from last year’s figure of information on our school tours. 0.42%, and less than our 1% target. Visitor numbers remain steady PBC has major partnerships with: To showcase the port we offer a range Visitor venues prove popular Lifeline Brisbane to provide a school- of free educational, community and Our hospitality venues – Visitors based counselling service; Blue senior group port tours, as well as an Centre, Jetty Kiosk, Northshore Care for a local wellness program; Explorer Tour for individuals for a Riverside Café and the Port Central the Queensland Maritime Museum small fee. Café – are committed to responsible to restore and exhibit maritime In 2009/2010 165 primary, secondary sourcing, and during 2009/2010 projects; and the Queensland Wildlife and university groups, comprising served over 150,000 cups of Fair Preservation’s Society’s Seagrass 5,201 students, experienced a Trade coffee. They are also popular and Mangrove Watch. Seagrass and comprehensive and tailored tour with visitors and port employees, Mangrove Watch are community- of the port’s facilities with a tour with over 61,000 people enjoying a based programs that monitor and guide. This was a decrease on last meal at the port. record the condition of seagrass and year’s figures of 174 groups and The Visitors Centre is located at mangroves in Moreton Bay. 6,134 students. Fisherman Islands overlooking a 4ha More information on sponsorships at lake that sustains a range of bird and www.portbris.com.au/community wildlife. The Centre is open five days a week and offers visitors a range Feedback from the Blue Care wellness of unique experiences to observe, program has been very positive, with explore and taste. It has an a la comments like: Congratulations on carte restaurant, casual-style café, your efforts to bring the community conference facilities and an interactive together and reach people with good display area that describes the history health information and strategies. and operation of the port. Our social performance Port of Brisbane Corporation Limited Annual Report 2009/2010 47
The program has provided over Community complaints 2009/2010 100 quick health checks to local citizens over 50 years of age, and Complaint Response Reference 13 participants are enrolled in a A member of the public We advised that this CC00078 12-month program to develop good complained about the decision was taken after health activities and attitudes. closure of the Visitors all the factors were Centre on Sundays. considered. We offered a E-Teams share discoveries with complimentary meal for colleagues two at one of our other two To encourage our employees to venues, which operate on participate in the organisation’s the weekend. everyday economic and environmental A member of the boating We investigated the CC00080 performance, our E-Teams community complained incident and apologised champion sustainable practices that a security officer for any rudeness or at work and home. spoke rudely to them discourtesy by the A number of at-home activities were about boating rules. security officer. undertaken by the team during the A member of the public The driver of the vehicle CC00081 year, including the use of alternative complained about unsafe was reminded of his cleaning products, mulching and driving practices of one of workplace health and safety composting, recycling, and sourcing our employees. obligations and underwent local produce. The results of the a defensive driving course. research and the outcomes were presented by each team to employees A port worker complained The driver of the vehicle CC00082 at a staff lunch, and flyers on each about unsafe driving was reminded of his practices of one of our workplace health and safety activity were posted on the Intranet. employees. obligations and underwent Complaints a defensive driving course. We encourage feedback from our A port visitor complained We apologised for any CC00083 stakeholders and have a formal about being pulled over discomfort the visitor process for reporting and addressing by a security officer while felt when stopped by complaints. Complaints can be made driving on port roads. the security officer, and 24 hours a day through our website, explained that driving or through port security. In 2009/2010 slowly around the port we received five community was considered to be complaints as shown in the table. suspicious behaviour.
Outlook
Our people Education opportunities Sponsorships Communication will continue to be our We plan to develop an education strategy We are looking forward to entering a focus in preparing employees for the to ensure that our current school programs partnership with The Smith Family that transition from a government owned are providing the appropriate outcomes will involve a sponsorship of a Tech corporation to a private company. for visiting students. As part of that Pack program. The program provides This transition will involve change to strategy we have scheduled a teachers’ affordable, Internet ready computers, ensure that our people have the skills professional development day for July. computer skills training, financial to successfully operate our core This event will also provide an opportunity literacy training and technical support, port activities. to collaborate with local and water-based for children and their families in the agencies, including the local Bayside local area to help them develop digital Safety workshop Creeks Catchment Group and the Moreton literacy. The commitment is $66,000 We are working with port operators Bay Environmental Education Centre. over three years. to coordinate an inaugural safety workshop that aims to improve safety Community engagement practices throughout the port by We plan to review our current involving port workers. The workshop is community engagement program scheduled to take place in September. to ensure that it remains appropriate, and investigate more effective means of measuring the success of the various activities. 48 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our social performance
Key social performance indicators and targets
Indicator 2007/08 2008/09 2009/10 Target 2009/10 ✓ or ✗ No. of employees 30 June1 337 387 338 n/a
Employee turnover2 13.3% 9.3% 9% <15% ✓
% of women in the workforce1 32.3% 32.6% 32% n/a
% of women in professional and administrative roles1 29.4% 21.1% 21.9% n/a
% of women in operational roles1 0.6% 0.5% 0.6% n/a
% of women in senior executive, and senior and middle 2.4% 3.1% 3.3% n/a management ranks1
% of women from non-English speaking backgrounds1 5.1% 7.5% 7.5% n/a
No. of formal EEO complaints reported to management3 0 0 1 0 ✗
No. of formal harassment complaints reported to management3 1 2 0 0 ✓
No. of employees using Employee Assistance Program 21 31 41 n/a
Days lost through industrial disputes4 0 0 0 0 ✓
Employee satisfaction rating as measured by the Culture Survey 92% no survey *not >90% this period measured
Employee engagement rating as measured by the Culture Survey 79% no survey 76% >70% ✓ this period
% of employees receiving regular performance/ 97.9% 100% 100% 100% ✓ development reviews5
% of employees receiving regular performance/development 97.9% 96.4% 99.3% 100% ✗ reviews rated ‘meets’ or above in the annual review6
Learning and development expenditure per employee1,7 $4,453 $2,426 $2,156 n/a ✗
Learning and development hours per employee1 51 28.6 24.9 35 ✗
Learning and development expenditure as a % of base salaries1,8 7.7% 3.4% 3.1% n/a
No. of employees receiving support for external studies9 20 18 18 n/a
Lost Time Injuries as a result of a safety incident10 7 3 6 0 ✗
Lost Time Injury Frequency Rate11 11.7 5 9.1 0 ✗
No. of non-conformances from external audit of PBC against AS4801 0 0 0 0 ✓
% of Health and Safety Committee members who are 50% 48% 42% 50% ✗ employee representatives
Amount spent on community support (donations, sponsorships $312,078 $311,475 $308,183 n/a and free community tours)13
Amount spent on community support as above as a % of 0.31% 0.42% 0.30% 1% ✗ pre-tax profits14
No. of community complaints 9 13 5 0 ✗
1 Permanent full-time, permanent part-time, casual, 5 This indicator relates to employees who received 10 Instances in which permanent staff, causal or and temporary employees as at June 30 employed a performance review in June 2010. Performance individual contractors, directly employed by the by the Port of Brisbane Corporation Limited. management reviews are undertaken for new Port of Brisbane Corporation Limited, suffered 2 Employees who leave the organisation, including employees still on probation, casual or temporary a physical injury as a result of a safety incident, retirements, retrenchments, and involuntary employees. which results in a person being declared unfit terminations, excluding temporary employees 6 Calculation based on the percentage of employees for work by a doctor on any day after the day of and casuals. who completed a performance management occurrence of the injury. 3 ‘Formal’ refers to complaints (EEO and review. 11 Includes injuries per LTIs. LTIFR = (No. of LTIs/ harassment) that have been escalated to senior 7 Includes travel, meal and accommodation costs, exposure hours worked) x 1,000,000. management. wages, and the cost of internal and external course 12 Based on two SAI Global audits per year. 4 Based on average number of working days lost per fees, excludes study assistance. 13 Includes financial donations and sponsorships employee involved in the dispute. 8 Calculated using base (ordinary) salary (excluding made to community organisations or charities, and * Du e to the company’s period of transition, it was on-costs). all payments made to the contract tour guide for more appropriate to conduct a Climate Survey 9 Ba sed on number of eligible employees, conducting free tours for community groups. instead of a full Culture Survey. This meant that a i.e. Permanent full-time, permanent part-time, 14 The figure for pre-tax profit used in this calculation satisfaction measure was not considered. excluding casual and temporary employees. was extracted from the Profit and Loss Statement. Insert section title Port of Brisbane Corporation Limited Annual Report 2009/2010 49 About this report IFC
Our vision, mission and values IFC
Our highlights 1
Our organisation 2
Privatisation milestones 3
Chairman and CEO’s report 12
Key corporate strategies 16
Our operational performance 21
Our social performance 37
Our environmental performance
Corporate governance 67
Our economic and financial performance 77
GRI content index 90
Independent Verification Statement 95
Index 96
Glossary and abbreviations 98
Port of Brisbane map 100
Contact us 102
Feedback form 103
Our financial reports (on CD) IBC 50 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our environmental performance
The port and its The Land Use Plan and Port Development Code 2007 identifies environment appropriate land use in various precincts, and defines the economical, Natural environment environmental, and socially acceptable preferred outcomes for development The Port of Brisbane’s main facilities on strategic port land. Under this plan are located at Fisherman Islands more than 20% of our landholdings at the mouth of the Brisbane River. are designated as green space, Its operations adjoin the Moreton Bay including the vegetated areas around Marine Park, an area of high ecological the port, which act as natural buffer Our goal is to add and conservation value. zones between the port and nearby value to the business Moreton Bay contains a variety of residential areas. All developers must habitats, including mangroves and allocate 5% of each development site by exceeding the seagrass. These habitats support to landscaped areas. important nursery and feeding environmental With the transition to private grounds for a range of fish and ownership, our regulatory planning performance crustaceans, dugong, turtles and framework will change. Under the other marine fauna, many of direct expectations of our new framework a first Land Use Plan value to fisheries. The area is also of (firstLUP) will be developed, which port stakeholders. considerable environmental value to will regulate and control development the migratory and resident shorebirds. across Core Port Lands. The park includes several Ramsar- declared wetland areas. The closest of See New Land Use Plan close to completion these is approximately 1km from our on page 25. nearest landholding, which we have Major projects completed in designated as a conservation area, 2009/2010 include the 220m General and around 3km from port operations. Purpose Berth and Terminal facility, The Port of Brisbane does not and new Port Office within the Port operate in isolation; its operations Central precinct. The new Port Office are linked to activities, such as building was the first in Australia to dredging, and to the activities of receive a 5 Star Green Star-Office the port’s operating tenants. Design v3 Certified Rating from the Green Building Council of Australia. Built environment It is the third PBC-constructed PBC manages a total land area building to receive a 5 Star rating. of more than 1,800ha, including The building will also be assessed Fisherman Islands covering about under the 5 Star Green Star-Office 950ha at the river mouth. Our diverse As Built v3 and Office Interiors v1.1 land portfolio includes industrial, categories. transport operations, retail/commercial See Case study: The green edge on and office parks. During the year, the page 58-59. Queensland Government transferred Operating environment land associated with the operation of the boat harbours at Manly, Within the port’s natural and built Scarborough, Cabbage Tree Creek environment, ships, trucks, trains and the Gardens Point moorings, and cargo handling equipment move and other non-core port land, commodities and goods to and from including the City Reach, as well the port, and between the various as the Northshore Hamilton land. port facilities. These supply chain activities, which generate the port’s economic outcomes, have the potential to impact upon the air quality, biological diversity and marine resources of the surrounding environment. We are committed to understanding and managing the environmental and social impacts of port operations and the supply chain. Our environmental performance Port of Brisbane Corporation Limited Annual Report 2009/2010 51
Environmental Plant Operator, Richard Taylor, fills the water truck from a newly management installed 137,000 litre rainwater tank. Using harvested water for landscaping and construction has reduced our reliance on Environmental Management potable water and the need to truck in recycled water. System Our Environmental Management System (EMS) provides a systematic process to understand the existing environment, assess the aspects and impacts of our operations and, through a risk-assessment framework, develop operational and management strategies to minimise impacts. The EMS has a strong focus on monitoring programs that consider both the natural and built environment. While the EMS does not explicitly cover the operations of our tenants, we work cooperatively to ensure all tenants adopt processes to promote a beyond-compliance approach to environmental management. Our infrastructure tender documents include a sustainability clause, and since 2007/2008, a Good Environmental Practice clause has been added to all our leases. Our EMS is regularly audited by SAI Global against ISO14001:2004. If required, we take corrective action to modify our practices to ensure that environmental management remains a key priority of our daily business. Since our EMS was accredited against ISO14001 in 2000, we have been re-certified three times, and at each triennial audit recorded no system or operational non-compliance against the standard. The five key areas of our EMS are: Policy: Develop and implement sound environmental policies and systems that support the sustainable development of our port and provide direction on how we operate within our sensitive environment. Innovation and leading-edge planning: Continue to push the boundaries of our current thinking and practices, so that we provide innovative and leading-edge solutions to environmental issues. Effective implementation: Ensure that commitment to our environmental goals underpins every aspect of our operations, actions, and decisions. 52 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our environmental performance
Five sampling locations around the seawall.
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4 1
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2 Our environmental performance Port of Brisbane Corporation Limited Annual Report 2009/2010 53
Seawall habitat adds to biodiversity of the bay
Since the Future Port Expansion’s (FPE) 4.6km long perimeter seawall was completed in 2004, it has become an increasingly popular destination for recreational fishers. On a fine weekend it is not uncommon to see 10-15 fishing boats drifting along the bayside of the seawall catching fish. This fishing activity, our own observations of plant growth on the wall, and the predictions in the original Impact Assessment Study for the seawall (which suggested that it was likely to provide important ecosystem functions), prompted us to undertake a study to explore the ecological values of the wall. We commissioned a local consultancy firm, with extensive expertise in aquatic ecology to help us develop a robust sampling methodology that would allow us to: • as sess spatial patterns in seawall flora and fauna communities; • de termine whether seawall communities varied at different depths; and • de scribe the existing and potential habitat values of the seawall.
The sampling locations and techniques Five sampling locations were selected around the perimeter of the seawall. These locations were relatively evenly spread around the wall, but were also Study confirms healthy flora and fauna Overall, the study found that the specifically selected to represent the The study found that the seawall supports seawall is providing important different sub-environments provided by a diverse and abundant flora and fauna ecosystem functions. Given that the wall (e.g. shallow sites versus deeper community comprising a range of brown, the seawall is only five years old, sites, exposed to prevailing wind and green and red macroalgae species, it is likely that the flora and fauna waves versus protected, river side versus sponges, hard corals, soft corals, sea community will continue to change bay side). anemones, bryozoans (lace coral), oysters, and mature over time. We intend to By selecting the sites in this way we were echinoderms and ascidians (sea squirts). monitor this ecosystem by repeating able to make some comparison between the study in two to three years time. Overall, macroalgae species provided the the different sub-environments, in addition dominant cover of the seawall at all sites. While this study provides interesting to an assessment of the overall ecological results from a general ecological value of the wall. A range of soft corals and other fauna perspective, it has also: improved species typical of reef environments in Sampling was undertaken by SCUBA our understanding of the port’s western Moreton Bay were recorded on divers using underwater video cameras. surrounding environment; assisted the seawall. Soft corals were the most This method of sampling is widely used by land-use planning, for example, abundant and widespread of these fauna reef researchers. At each of the five sites where to locate stormwater outlets groups, but only accounted for about 1% video footage was captured along three through the seawall; and enhanced of total cover of the seawall. Hard corals 25m long transects, or areas, at water our understanding of how rockwall occurred in several small colonies, but depths of 0.5-1.0m, 1.0-2.0m and >2.0m designs can enhance ecological were relatively uncommon. LAT (Lowest Astronomical Tide). values of an area. The flora and fauna community structure of This footage was then analysed the seawall is similar to that of the natural using techniques that allowed for the rocky reefs in western Moreton Bay. identification of species, and a calculation The most notable difference is the lower of the percentage of coverage of flora hard coral cover on the seawall. While hard and fauna within the site. It should be coral cover on natural reefs is rarely less We will continue noted that this sampling technique is than 5%, on the seawall it is currently less used on flora and fauna that is attached to monitor this than 0.5%. In time, hard coral cover may to, or resident within the seawall. Mobile increase as colonies grow larger. species, such as fish, generally move important ecosystem. away from an area when a diver enters the water. Sampling of these species requires different sampling techniques that were beyond the scope of this study. 54 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our environmental performance
Corrective action: Maintain an Key achievements in 2009/2010 efficient and effective system that include: monitors, measures and reports Minimising air pollution and performance. The system must greenhouse gas emissions from proactively seek to improve our transport sources systems and operations, and to minimise impacts on people, property, • We met our greenhouse gas practices, and the environment. reporting obligations under the National Greenhouse and Energy Ongoing review and continuous Reporting Act 2007. improvement: Regularly review our • A new propeller and nozzle to be We completed a operations and activities to ensure fitted to the Brisbane during its climate change risk that we meet the expectations of refit in late 2010 will provide fuel our stakeholders. assessment focusing efficiency improvements. We maintain a series of indicators • The tender for the BMT’s on physical, regulatory, against which we measure our new forklifts includes energy supply chain and environmental management performance criteria. performance, and the environmental • We concluded the landside emission commodity risks. condition of the surrounding area. inventory that, together with the waterside inventory completed last See Key Environmental Performance year, will contribute to a port-wide Indicators on page 66 for a sample of these indicators. approach to emission reduction opportunities in 2010/2011. See www.portbris.com.au/ • The rated fuel efficiency of our environment/environmental passenger vehicle fleet is 16% management for more information on our EMS. better than our 2008 levels and remains ahead of target. Board involvement Continuously improving resource Our Board provides input into efficiency environmental management and • We completed a preliminary wind due diligence matters through power feasibility study at the port. the Planning, Construction and Further wind speed measurements Environment Committee. and certainty on national renewable The meetings are attended by four energy policies will further inform Board Directors, the Chief Executive the commercial potential. Officer, and senior planning and • Our total electricity use is on track environment staff. The Committee to reach our target of 8% reduction meets quarterly to review the progress from 2007/2008 levels by 2010. of the sustainable development of This can be attributed to efficiency the port. improvements and property divestment. See www.portbris.com.au/ • A composter was installed at aboutus/corporategovernance/ committeesandpolicy for the Visitors Centre to eliminate our Planning, Construction and organic waste to landfill and provide Environment Committee’s charter. compost for port landscaping. • Our recycling rates are on target Climate Change Commitment to divert 80% of recyclables Our Climate Change Commitment from landfill. was signed by the Board in 2008. • Water harvesting from a tenant’s The initiatives and targets within the warehouse roof is reducing our commitment aim to reduce the port’s reliance on recycled water delivered greenhouse gas emissions, improve by road transport. resource efficiency, understand Understanding climate change climate change impacts and foster impacts and build knowledge awareness and action among its • We completed a climate change people. These actions provide benefits risk assessment inclusive of direct to PBC today, and contribute to a physical risk, regulatory risk and climate resilient port in the future. supply chain and commodity risk. This commitment to understand and • Representatives from the Green prepare for plausible risks is consistent Building Council of Australia and with the precautionary principle. Corporate Express were guest speakers for two Lunch ‘n Learn sessions, sharing their organisations’ sustainable business practises. Our environmental performance Port of Brisbane Corporation Limited Annual Report 2009/2010 55
The nine dredged-material test ponds, located near the Terminal 13 area of the FPE, are being used to dry out the marine muds extracted from the river and berths.
Training and communication Partnerships and research Dredging and dredged- Central to maintaining sound In 2009/2010 we worked with environmental performance is a number of organisations and material management ensuring that our employees and universities researching stormwater contractors are appropriately trained, and air pollution. Safe access maintained and aware of the environmental values We have been working with the PBC is responsible for the of the port and its surrounding area. Queensland University of Technology maintenance of 90km of navigational Our Onboarding Program and (QUT) for the past few years shipping channel, stretching from contractor inductions program to quantify stormwater quality the northern tip of Bribie Island, emphasise the strategies, programs parameters and develop a across Moreton Bay, and into the and actions that we take to port-specific stormwater model. Brisbane River. We need to ensure minimise our environmental impact. The final project report delivered safe, deep-water access to the port All employees are required to complete this year indicated that port is maintained. Because it generally the induction program within the first stormwater was unique both in follows the naturally deeper sections two days of starting work. It includes flow-characteristics and quality. across the bay, only about 10% of examples of how each individual the channel requires dredging to keep See Better understanding of storm water it clear and at depth. We also carry contributes to achieving the goal of on page 62 for more information. a sustainable port. out maintenance dredging between QUT also finalised the ambient air Fisherman Islands and the Hamilton In 2009/2010 employees attended quality monitoring program and Reach of the river, to enable safe external training on fire ant awareness, completed exhaust testing of our passage for vessels visiting berths erosion and sediment control, and dredgers, Amity and Brisbane. upstream. Sediments washed from the sustainability. We also delivered This program enhanced our catchments can reduce channel depth internal training programs on understanding of the quantities and and may restrict access to the port. contaminated land requirements, qualities of emissions attributed to and the habitats provided by our dredging operations, first gained by Our dredging vessels constructed seawall. the waterside emissions inventory PBC operates several dredgers 3 See Case study: Seawall habitat adds to completed by the Australian Maritime including the 2,900m trailing suction biodiversity of the bay on page 52-53. College in 2009. hopper dredger, the Brisbane. We also operate the Amity, a cutter suction Ongoing research into alternative dredger, and the Ken Harvey, a clam uses for dredged material is being bucket dredger. undertaken in the FPE reclamation area. See Re-use options for dredged materials on page 57 for more information. 56 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our environmental performance
Brisbane is the largest dredger of The amount of material we need to Development dredging work continues its type based in Australia. Its low- dredge each year is influenced by along the future quayline at Fisherman wash hull and below keel discharge rainfall and run-off. These influence Islands at Berth 12. Approximately of overflow waters significantly the amount and movement of silt in 560,000m3 of material was extracted reduces the turbidity generated by its the river system. These sediments as part of preparing the berth and operation. It is also fitted with turtle typically contain elevated levels approaches to the berth. deflecting devices on the drag head. of contaminants, which make them We have approval to extract up to As part of our dredging program, unsuitable for placement at sea. 15 million m3 of sand from the Spitfire each year we record the number of We currently reuse this dredged Banks area in northern Moreton Bay turtles killed. During 2009/2010 one material in our land-reclamation to use for port development purposes, turtle was killed by the Brisbane. activities. This reduces our reliance on primarily on Fisherman Islands. In 2008/2009 no turtles were killed. land-based fill, and removes the need These works also have the benefit of Notification to authorities of turtle to dispose of dredged material at sea. ultimately straightening the channel’s mortalities occurs in accordance All our dredging work is carried out in existing dogleg. In 2009/2010, the with the conditions of the relevant accordance with our DERM-approved Brisbane extracted approximately dredging approvals. Dredging and Dredged Material 634,000m3 of sand from the Spitfire See www.portbris.com.au/ Management Plan, which remains a Channel realignment area. operations/dredging for more condition of our permit to dredge in The majority of this material was used information on our dredging fleet. Moreton Bay. for port development purposes on Quantities dredged decrease We removed approximately 88,000m3 Fisherman Islands. However, 38,000m3 This year we dredged approximately of sand from approved channels was used for beach nourishment works 177,000m3 of fine-grained marine in Moreton Bay. This clean sand under a contract with the Moreton Bay muds from the navigation channels is also used in our reclamation Regional Council. operations and is placed on top within the Brisbane River, swing basin Despite the amount of material of the marine muds extracted from and berth areas adjacent to Fisherman reused in our reclamation operations, the river. The sand provides a sound Islands. This is a decrease from last over the past year we sourced development platform and creates a year when approximately 237,000m3 approximately 18,800m3 of hard fill layer between the underlying muds of sediment was dredged from from licensed quarries. This material and future operational areas. these areas. was used primarily to ‘cap’ areas filled with dredged material, and for the construction of rock walls.
Contaminant concentrations within the dredged areas of the Brisbane River and Bar Cutting 2010
Contaminant DEH (1998) HIL-A NAGD screening level Mean Standard deviation 95%UCL Arsenic (mg/kg) 100 20 8.2 2.5 8.8
Cadmium (mg/kg) 20 1.5 0.12 0.17 0.23
Chromium (mg/kg) 100 80 28 6.4 29.6
Copper (mg/kg) 1000 65 24.8 12.2 27.9
Lead (mg/kg) 300 50 20.0 10 22.5
Mercury (mg/kg) 15 0.15 0.12 0.07 0.14
Nickel (mg/kg) 600 21 22.7 5.18 24
Zinc (mg/kg) 7000 200 98.6 44.3 109.7
Tributyl tin (µg/kg)1,2 n/a 9 13.5 44.3 79.3
Chlordane (µg/kg) 50,000 0.5 Not detected
DDD (µg/kg)2 n/a 2 1.14 3.29 6.02
DDE (µg/kg)2 n/a 2.2 0.44 0.98 1.08
DDT (µg/kg)2 200,000 1.6 0.41 0.94 1.02
1 expressed as µg of tin (Sn)/kg This table details the contaminant concentrations The mean figure indicates central contaminant 2 results normalised to 1% of Total Organic Carbon for selected contaminants at sites tested within the concentration of all samples tested, and the measured in the sample dredged areas of the Brisbane River and Bar Cutting standard deviation is the measure of how much the 2010 – see map on page 57. Statistical analysis has contaminant concentration can deviate negatively been compared with the Queensland Guidelines for and positively from the mean. The 95%UCL is the the Assessment and Management of Contaminated statistical result that equals or exceeds the true mean, Land (DEH 1998 HIL-A) and the National Assessment 95% of the time. Guidelines for Dredging 2009 (NAGD screening levels) for a range of contaminants. Our environmental performance Port of Brisbane Corporation Limited Annual Report 2009/2010 57
This represented approximately 1% Areas where sediment sampling occurred 2010 of our total fill requirements during 2009/2010, minimising pressure on land-based resources and reducing associated traffic generated by Boondall road haulage.
Contaminant guidelines Port of Prior to commencing our annual Brisbane maintenance dredging of the Brisbane Fisherman Islands River, we carry out comprehensive Brisbane Airport sediment sampling and analysis. The program involves: • collecting sediment cores from 48 sites within the river (three of Pinkenba which are outside our dredging
r area, and are used as reference Hamilton e iv e R Wynnum sites only) ban Bris Bulimba Hemmant • submitting samples to approved Manly laboratories to determine sediment Boat Harbour
characteristics City • comparing contaminant levels with the sediment-quality criteria outlined in the National Assessment
Guidelines for Dredging (NAGD) St Lucia 2009 for: – sc reening levels (requires further consideration/assessment) Elevated levels of TBT continue to be DDD is a metabolite and breakdown – se diment quality high values detected within the river sediments, product of the organchlorine pesticide (indication of significant with 18% of the sites sampled found DDT, which is no longer used in contamination) to have concentrations above the Australia. Organchlorine pesticides – past sediment-quality data. NAGD screening levels. This was (such as DDT) have historically been an increase from 11% last year. detected within the river sediments. We aim to sample sediments as The mean concentration of TBT close to the dredging date as possible, The detection of these pesticides recorded this year was also higher to ensure that the data collected that are no longer used, tends to than in recent years. is relevant. This year our sampling support our theory that pesticide- program was carried out in This year’s increase was primarily contaminated material is being eroded, January 2010. due to high levels of TBT recorded in washed from land-based and marine samples from two sites upstream of deposits, and settling in the deeper Sediment quality similar to the main port operations at Fisherman shipping channels of the river. previous years Islands. These samples have biased The 95% UCL for all contaminants The results of this year’s sediment the overall result. While not common, tested met the DERM health-based sampling and assessment program a small number of similar high level for residential use. This confirms were similar to previous years. concentrations of TBT have been that these sediments do not pose a risk The contaminant concentrations recorded in previous years’ sediment to human health or the environment (based on 95% Upper Confidence sampling and analysis programs, when placed on land. Limit) within the dredging area, for most recently in 2006/2007. the majority of contaminants The continued elevated levels of TBT Re-use options for dredged tested, were below the NAGD have the potential to limit the options materials screening levels. However for placement of this material. The Dredging will always be required to nickel, tributyltin (TBT) and use of TBT as an antifouling coating ensure the safe navigation of the Dichlorodiphenyldichloroethane for marine hulls on vessels greater port. While this is largely driven (DDD), were found to be above than 25m in length was discontinued by catchment management, the these levels. in 2003. The International Maritime consolidation of port operations at the While nickel was found across 78% of Organisation allowed a five-year river mouth, should, over time, reduce the test sites, up from 53% last year, phase-out period for its use. While the amount of dredging required in the nickel is thought to occur naturally it will be some time before TBT falls upriver channels. as a result of the erosion of parent below detection levels, it is expected However, the long-term management rock within the catchment. It is not to decline over time. of dredged material remains a key considered a contaminant of concern issue, not only for ports, but also for in this area. local and regional agencies that need to undertake flood mitigation and coastal development works. 58 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our environmental performance
The new Port Office, with its 5 Star Green Star rating, is the way ahead for all future development at the Port of Brisbane. Our environmental performance Port of Brisbane Corporation Limited Annual Report 2009/2010 59
The green edge
The planning Energy and water use in the building is Planning for the new Port Office began in monitored, controlled and analysed by September 2007, when we went to the a computerised building management market with a design competition between system. Indoor and outdoor conditions are three of Brisbane’s leading architectural monitored to ensure the most appropriate companies. After a rigorous selection cooling, heating and lighting settings process, Thomson Adsett Architects was are selected to maximise comfort and selected in early 2008 to work with our minimise energy use. staff in developing the design concept. A 5 Star approach The site for the new office was the largest Over the past four years PBC has pursued site within the Port Central precinct, a ‘green building’ design approach through with ample room for parking and garden the Green Building Council of Australia areas. The design of the new Port Office (GBCA), which administers the ‘Green is slightly different from the Port Central Star’ rating scheme. buildings, adopting a more ‘circular’ architectural form rather than an ‘angular’ ‘Green Star’ is a comprehensive, national, approach. The circular form, combined voluntary environmental rating system that with the overall height of the structure, evaluates the environmental design and makes the building more pronounced – construction of buildings. standing out as an iconic building within The new Port Office was the first in the precinct, and across the port generally. Australia to receive a 5 Star Green Star The building’s internal design Office Design v3 Certified Rating from features include: GBCA, and is the third PBC-constructed building to receive a 5 Star rating. • A central atrium running through the The building will also be assessed building from the foyer area to the under the 5 Star Green Star Office As Built rooftop, promoting natural light through v3 and Office Interiors v1.1 categories. Green buildings reflect a commitment the building. This feature also promotes to the future. Buildings with low greater interaction between employees GBCA’s version 3 includes several higher emissions of volatile organic as they travel between floors. benchmarks to encourage even more compounds, that use water and • Su spended meeting rooms which rigorous design features and therefore energy efficiently, and that adapt extend into the foyer area. deliver even better performing and to future needs, exemplify the • Se veral common areas throughout the resource efficient buildings. sustainability principles of the Port building, including an indoor/outdoor To date, 250 projects have been certified Central precinct. central staff lunchroom/café, several by GBCA throughout Australia. PBC has outdoor decks, and scattered informal three of the overall Queensland tally: The future lounge areas. Port Central 1 (v2 Office Design), the • An observation deck at the top of the Port Central will be developed over EPA Building (v2 Office Design) at Manly building to be used for special functions time, as the number of people Boat Harbour, and the New Port Office and an area to showcase the operations working at the port, and the demand (v3 Office Design). This is a significant of the port to industry groups for additional facilities, continues achievement. and visitors. to grow. • Ou tdoor garden space to have lunch, So why are ‘green buildings’ important? Development of the precinct will read a book or have team meetings. be consistent with the overall Port Buildings have a significant impact on Central masterplan, architecturally The six-storey Port Office has been the environment, consuming 32% of designed in line with ‘Green Star’ designed and constructed to ensure a the world’s resources, including 12% of requirements, and with minimal relaxed office environment where staff its water and up to 40% of its energy. impact on the surrounding can: enjoy the benefits of a healthy Buildings also produce 40% of waste going environment and optimum use design approach; interact easily within to landfill and 40% of air emissions. the building; and be proud to host of natural resources. In Australia, commercial buildings produce visitors as part of our everyday The design of the Port Central 8.8% of national greenhouse emissions operations as Australia’s leading port – precinct fosters a sense of and have a major part to play in meeting here for the future. community through its consistent Australia’s international greenhouse pedestrian linkages and shared The Port Office has been built with optimal obligations. A commercial building sector open spaces. It is a precinct for orientation so that balconies shade the baseline study found that office buildings the workforce of the future. interior from direct summer and midday and hospitals were the two largest emitters sun, while allowing natural light in all by building type, causing around 40% of year round. total sectoral emissions. 60 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our environmental performance
We expect that reclamation works at Port of Brisbane electricity use the port will be complete by 2025- (‘000 kilowatt hours per annum) 1,000 2030, by which time we are unlikely to require any further fill material. The sand extracted from our channel- 800 maintenance activities is a valuable resource, and alternative markets are 600 likely to be found. The options for the 2006/07 use of the fine-grained marine silts, 400 dredged from the river, are less certain. 2007/08
As most of the dredged sediments 200 2008/09 are contaminated with pollutants 2009/10 from urban and agricultural land uses, 0 it limits the options available for the OPERATIONS BASE PORT OFFICE BMT VISITORS CENTRE JETTY KIOSK PORT CENTRAL CAFÉ long-term placement of this material. While the material may exceed the criteria for placement at sea, it is considered acceptable for placement Energy and greenhouse Dredging vessels on land, under controlled conditions. The Brisbane and Amity consumed gases 75% and 14% respectively of our However, to effectively reuse this 500 dredged material, it needs to be dried total diesel usage in 2009/2010. for transport. Electricity Our largest, the Brisbane, consumed 400 PBC uses electricity for its almost 3.4 million litres of diesel, One of our engineering teams has buildings, outdoor lighting, storage an increase of 3% from 2008/2009, established nine dredged material of refrigerated containers at the while the Amity’s fuel use was 300 test ponds within the FPE reclamation BMT, boat harbours, pumping lower than 2008/2009. This year, area and over the next 12 months will Export full stations and untenanted facilities. the Brisbane’s dredging campaign 200 evaluate various methods to reduce In 2009/2010,Export empty our total electricity use included Newcastle to the south, the drying times of material placed in was 4,355 megawatt-hours, a drop and ranged as far as Karumba in the ponds. This project is a PhD topic Import full 100 of 21% from 2007/2008, which puts north Queensland. for one member of the team. Import empty us well ahead of our climate change See Quantities dredged decrease on page 56 0 The trial ponds vary in size from commitment of 8%. for more information. 25m by 25m to 25m by 65m, and 2005/06 2006/07 2007/08 2008/09 2009/10 Air conditioning improvements in the In 2009 we evaluated a number are located in the Terminal 13 area of old Port Office building contributed of technical upgrades to both the the FPE. A sampling and monitoring to a 20% drop in total electricity use Brisbane and Amity, to deliver cost program will look at changes in mud during the peak cooling months in and fuel savings from our largest thickness, moisture content, density 2009/2010. The installation of a energy using assets, while keeping and shear strength. The results will new air conditioning system at the in mind the asset life of each vessel. be used to assess the effectiveness Visitors Centre has increased energy Modelled fuel savings from propeller of the various drying methods and use, but provides comfort for the and nozzle replacements for the thicknesses. increasing numbers of community Brisbane were positive. These features and industry visitors. were purchased in 2009 for installation during the next refit of the vessel in LED lamps were installed at the new late 2010. Multi-User Terminal and, with outdoor lights representing 20% of our total Corporate vehicles electricity use, we are reviewing Prior to the adoption of environmental opportunities for the continued roll-out criteria for its passenger vehicles of this technology for roadway lighting in February 2008, PBC had a at Fisherman Islands. predominantly petrol V6 fleet. Our hospitality venues – three cafés We introduced further rigour in the and the Visitors Centre – represent greenhouse gas performance criteria 15% of our total electricity use. for passenger vehicles in 2009, During 2009/2010 our hospitality and adopted criteria for onroad venues purchased 640 megawatt- work vehicles. hours of GreenPowerTM from wind, By June 2010, with 85 of PBC’s representing 96% of our hospitality 104 vehicles replaced under the use, or 15% of corporate electricity. new policy, we now have a fleet that is During the year we commissioned 35% diesel, and its rated fuel efficiency a carbon tracking system for our is 16% better than before. We remain electricity, fuel and gas use, to ahead of our Climate Change Commitment target to improve the rated Monitoring the dredged improve the management and material test ponds. reporting of greenhouse gas fuel efficiency of our passenger vehicles emissions, energy use and costs. by 15% from 2008 levels by 2012. Our environmental performance Port of Brisbane Corporation Limited Annual Report 2009/2010 61
Port of Brisbane Corporation – greenhouse gas emissions and energy use 2009/2010 Only Facility 1 triggers reporting obligations under NGER. NGER Energy source Consumption Energy Emissions also requires a consideration of
GJ % Tonnes C02-e % contractors’ emissions, such as earth works and infrastructure projects, Electricity 4,355 megawatt-hours 15,677 8 3,306* 21.3 over which PBC is viewed as having Petrol 170kL 5,808 3 22* 0.1 operational control. Tenants and the transport supply chain have their own Diesel 4,573kL 176,532 89 12,143* 78.3 reporting obligations through their corporate entities. Gas (LPG) 27kL 691 0 41 0.3 Emission surveys Total 198,708 100 15,514* 100 In June 2010 we finalised a port-wide * Emissions are net of offsets tabled below. Consumption and energy reflect total use. landside inventory of greenhouse gas emissions and air pollution. Along with the waterside inventory completed last Summary of greenhouse gas offsets in 2009/2010 year, this data will enable us to prioritise
Energy use Offset Consumption Emissions (tonnes CO2-e) actions and benchmark our efforts to reduce emissions in the future. GreenPowerTM Wind power 640 megawatt-hours 569
Greenhouse Energy 185kL 493 FriendlyTM efficiency Resource management Accredited Fuel project Monitoring the port and its diverse Air travel Tree planting 606,738km 82 environment July 2009– Dec 2009* Resource management is fundamental to the sustainable operation of the * Offsets for January–June 2010 unavailable at time of print. port. A key aspect of managing the port’s natural, built and operating environment is monitoring that Air travel offsets PBC is subject to mandatory environment to detect change. greenhouse and energy reporting In 2009/2010, over 1.1 million km On-site monitoring of PBC’s were travelled by air on PBC business. obligations under the NGER Act 2007. This includes reporting greenhouse operations includes waste, potable At the time of print, emissions water use and energy. However, our attributed to over half of this travel, gas and energy data where we exceed certain ‘facility’ or corporate monitoring programs extend beyond or 82t, were offset through the the bounds of our operational control, Queensland Government’s Eco Fund. thresholds from activities where we have operational control, as defined to include mangrove and seagrass Greenhouse gas emissions by NGER. health, migratory shorebirds, air quality, stormwater, receiving water Our greenhouse gas emissions are We defined the facilities under and groundwater quality, and exotic attributed to fuel for our dredgers which our corporate greenhouse gas weeds and pests. (72%), electricity (21%), heavy emissions are to be reported. They are equipment and forklifts (4%), vehicle See Key environmental performance as follows: indicators on page 66 for a summary of fuel (2%) and other (1%). Our total these results. scope 1 and scope 2 emissions are Facility 1: Port of Brisbane precinct operations, both waterside and 15,514t C02-e, compared to 18,038t Composter adds to waste landside C02-e last year. This is mainly due to improvements lower fuel use in the dredger, Amity. Facility 2: Upriver operations, including As part of our waste management Energy data and greenhouse gas Northshore and Corporate Office program, we undertake winter and summer audits to investigate waste emissions presented in this report Facility 3: Port of Bundaberg (divested types and separation efforts at Port have been calculated using the in October 2009) factors published by the Australian Office, BMT and the Operations Base. Government Department of Climate Facility 4: Contract dredging services, Waste generated by our hospitality Change in the National Greenhouse outside the Port of Brisbane precinct, venues is correlated more with and Energy Reporting (NGER) for which fuel was purchased in patronage rather then the number of Determination. We report our energy Queensland employees; and the Brisbane has its own recycling and waste-management emissions on an operational control Facility 5: Contract dredging services, practices. basis, as defined by the World for which fuel was purchased in New Resources Institute/World Business South Wales Council for Sustainable Development. 62 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our environmental performance
Destination of waste 100% (Port Office, BMT, Operations Base) 90% 80% 70% 60% 50% Paper and cardboard to recycling facility 40% Comix waste to recycling facility 30% Recyclable waste to landfill 20% 10% General waste to landfill Executive Chef, Harold 0% Fleming, feeds the composter. 2005/06 2006/07 2007/08 2008/09 2009/10
The amount of general and recyclable Water consumption continues Better understanding of stormwater waste generated per employee to drop Stormwater can carry sediments, increased in 2009/2010 to 64.7kg, We monitor and measure water use nutrients and contaminants, such compared to last year’s figure of at Port Office, the Operations Base, as oils, greases and heavy metals, 500 44.4kg. We are uncertain why this reclamation office, Visitors Centre, into our waterways. By effectively increase has occurred, but believe and various construction sites. managing our stormwater, we are able400 it could be partly attributed to our to minimise the impacts of the port’s auditing techniques. We will review In 2009 we reviewed our Water operations on Moreton Bay. 300 the results of the next audit to see if Efficiency Management Plan (WEMP) to ensure that we capture any changes In 2009/2010, our automatic this trend continues. Export full in activities, management practices stormwater sampler, located at 200 Despite this increase, the proportion and Exportnew facilities.empty Our WEMP will Lucinda Weir, was triggered on six of waste sent to recycling facilities, be revisedImport full biennially to include any occasions by significant rainfall events.100 compared to waste sent to landfill, further operational changes and On three occasions, samples were continues to steadily improve. updateImport progress empty on our ongoing water collected and tested for a range of In 2009/2010 the proportion of saving initiatives. potential contaminants. 0 recyclable waste that was incorrectly 2005/06 2006/07 2007/08 2008/09 2009/10 placed in general waste bins During the year, in partnership As in previous years, results indicated was similar to 2008/2009, at with one of our tenants, Tzaneros the stormwater quality exceeded approximately 26%. Enterprises, we installed a concentrations for long-term water 137,000 litre tank at the Port Gate quality objectives for: selected heavy We will continue to educate our staff Estate. The water harvested from metals, suspended solids, nutrients, on recycling and improved waste the tank will be used for landscaping and total petroleum hydrocarbons. management practices. irrigation, construction projects The samples that exceeded and dust suppression. This onsite In February 2010, we installed an concentration targets for heavy source of rainwater not only reduces automated composter at the Visitors metals were more often noted in our reliance on potable water, but Centre, which will reduce the quantity the total concentrations, than in the also decreases the need to truck in of food waste sent to landfill, and filtered concentrations. In assessing recycled water. provide compost for port gardens environmental impact, the filtered and landscaping. The composter PBC is not a large consumer of concentration is generally a better decomposes food waste produced potable water, but we have reduced measure of potential impact. from the café and restaurant and we our consumption at these facilities Data collected by the stormwater anticipate that approximately 1.2t of from 23.57ML in 2005/2006 to study undertaken by QUT over several compost will be produced each year. 2.52ML in 2009/2010. We continue catchments and simulated rainfall Further testing of the quality and to work with our tenants, several events, reveal that run-off at the port quantity of compost will be conducted of which have approved WEMPs, was generally cleaner than typical over the next year. The composter will to further reduce the demand for industrial and commercial land uses. also provide a valuable educational potable water. tool for school groups and visitors The study confirmed that through the to the Centre, to learn about the effective control of suspended solids role composting plays in creating (silty material), we are able to reduce a sustainable port. the concentration of pollutants such as heavy metals, oils and greases entering the environment. The study also developed a mathematical relationship between the various pollutants, and this will enable our controls and monitoring programs to be more targeted in the future. Our environmental performance Port of Brisbane Corporation Limited Annual Report 2009/2010 63
Groundwater quality peer reviewed This is a positive outcome as these While the seagrass areas surrounding Monitoring of the water table that mangrove communities, similar to the port are not under our management underlays the entire port area at other mangrove communities in parts control, we are mindful of the potential Fisherman Islands, provides us of Moreton Bay, have been declining effects of the port’s operations on with data on water quality, and also in health for much of the last decade. these sensitive areas, and monitor them every two-to-three years. allows us to monitor the behaviour of We provide the results of our dredged sediments used to reclaim mangrove health assessments to the We have scheduled the next seagrass the area. relevant state agencies, universities monitoring event for late winter Six-monthly monitoring at the and mangrove research organisations, 2010. In August 2009 we conducted 12 groundwater wells continues to to assist with their efforts to a pilot survey of a small section of reveal no significant contamination by understand this widespread issue. seagrass habitat adjacent to the port using underwater acoustic monitoring heavy metals or hydrocarbons. Our partnership with the community techniques. The survey also assisted based Mangrove Watch program has Since our monitoring commenced in us in determining the effectiveness continued this year. The program was 2000, the quality of the groundwater of this emerging technology for launched in March 2009, and uses has remained high and comparable to underwater habitat mapping purposes. trained volunteers to regularly collect National Health and Medical Research It is likely that it will be used for part of data on mangrove health from a range Council standards for drinking water. the 2010 seagrass monitoring event. Although we have no intention of of sites within Moreton Bay. In addition using this resource for drinking, the to our sponsorship of the program, As part of our partnership with standard provides a useful indication our staff conduct the monitoring at the Seagrass Watch program, we of the quality of the groundwater. one of the sites near the port. continued to monitor a seagrass site directly adjacent to the port, By the end of 2010 some of the sites In 2009/2010 we had our groundwater and contribute the results to their will have been monitored three to four data and monitoring procedures peer database. Seagrass Watch has been times and it is expected that initial reviewed by an external groundwater running across Queensland for the trends in the data will start to emerge. quality consultant. This review past 12 years. confirmed that our data indicates Use of acoustic technology to consistency in groundwater quality Birds, bats and gliders in buffer monitor seagrass over time, and made several minor zones Seagrass meadows are essential to recommendations for changes to In June 2008, 60 native fauna boxes the marine ecosystem. They are not procedures and reporting. These were installed in two of the port’s only very sensitive to changes in water recommendations were incorporated buffer zones. In the second survey, quality, but are important indicators into the most recent round of 18 months after installation, over half of the overall condition of the marine monitoring. of the nesting boxes showed signs environment. of habitation. Understanding our receiving waters In January 2010 we commenced a monthly water quality monitoring program within sections of the Brisbane River and Moreton Bay in ALS consultant, Stephen Gabas, and the vicinity of the port. This initial Senior Environmental Coordinator, 12-month program aims to improve Scott McKinnon, test the water in our understanding of the quality of the vicinity of the port. the receiving waters surrounding Fisherman Islands. An extensive range of water quality parameters are measured, including heavy metals, nutrients and hydrocarbons. The results of this monitoring will be used to complement existing water quality guidelines. It will also provide an additional benchmark against which the performance of the port’s water quality management measures can be assessed.
Mangrove health unchanged We carried out our biennial mangrove health assessment in 2010. It found that the overall health of the mangrove communities adjacent to the port and at Port Gate has not changed significantly during the last two years. 64 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our environmental performance
Environmental incidents directly associated with our activities 2009/2010 Galahs and micro-bats are two new native species observed in the nest Accident/Incident Immediate action Long-term preventive action boxes during the most recent survey. Class A – none reported Five colonies of squirrel gliders have taken up residence in the nest Class B – none reported boxes, up from one colony observed Class C 12 months ago; and possums and a colony of native bees are also A small amount of oil The spill on the deck The procedure for responding occupying the boxes. spilled onto the Amity’s was cleaned up using to and reporting spills was deck as the result of the on board spill kit and reiterated during a team The habitat value of the port’s buffer damage to a hydraulic disposed of appropriately. meeting of the Amity’s staff. zones is improved through regular ram. (This incident weed control and fire management occurred on 29 June practices. In 2009/2010 we planted 2009, however it was 1,600 native trees and grasses at Perrin still under investigation at Creek at Colmslie and along Lucinda the time of printing the Drive on Fisherman Islands. We also previous report). planted another 1,600 seedlings in the pathways around the new Port A small amount of fuel The spill was immediately Work practices were reviewed, Office, adding to the biodiversity of leaked into Lucinda Drain contained and cleaned including a risk assessment for these areas. from a chipper machine up using the mobile the positioning of the chipper as it rolled down the bank spill kit and disposed of to prevent the recurrence of a Pest and weed monitoring when it was moved along appropriately. similar incident. the drain. It has been several years since we last did a feral animal (primarily fox A minor fuel spill MSQ was immediately The appropriate reporting and and cat) control program, but we occurred from an notified and advised clean-up method for the spill continue to remain vigilant for signs unknown source into the that the best treatment were followed and no other of the presence of these animals. Manly Boat Harbour. method was to allow the action was required. Uncontrolled feral animals not only sun to naturally break have the potential to spread disease down the hydrocarbons. and compromise customs-controlled bonded stores, but have been shown to be the primary source of predation Environmental complaints 2009/2010 on the migratory and resident shorebirds at the port. Complaint Response Reference We use the Australian Quarantine A local resident reported We advised that the clearance CC00079 and Inspection Service (AQIS) target trees being cleared at our was associated with flood Colmslie estate. mitigation works at Perrin weed species list, and the Queensland Creek. The area was to be declared pest listings as the standard revegetated on completion of pest listings for identifying exotic the works. weed species. Once detected, these are treated by our Landcare team. A member of the public We advised that we had not CC00084 Weed surveys conducted in the complained that bats experienced an issue with Lucinda Drain during 2009/2010 did were attracted to native bats in the past, but if data on not identify any AQIS weed species, species at the port and bat incidents at the port could but did identify six declared species were being caught in be supplied, it would inform a under the Land Protection Act 2002. barbed wire fencing. management approach to We treated these as soon as practical the issue. to reduce the potential for spreading. Copies of our weed surveillance reports are sent to AQIS as a condition of maintenance for our AQIS declared Pied Oyster Catchers are clear areas. common in Moreton Bay. New shorebird plan Our reclamation areas, and the 12ha permanent shorebird roost, constructed in 2006, continue to provide habitat for more than 15,000 migratory and resident shorebirds each year. Our environmental performance Port of Brisbane Corporation Limited Annual Report 2009/2010 65
Working with the Queensland Wader Class A – incidents that have This compared with 48 in 2008/2009. Study Group, we have been carrying caused extensive potential or actual Most spills were minor (less than out monthly shorebird counts at environmental harm. 20 litres), and required an initial the port since 2001. Using the data investigation and response by our Class B – incidents that have caused collected from this monitoring, we are Port Operations Coordinator. significant potential or actual revising our Shorebird Management environmental harm. Pollution reports are prepared by our Plan for 2011-2015. Duty Officers on oil and chemical Class C – incidents that have caused spills, in accordance with MSQ potential or actual environmental requirements. Environmental harm. As a preventative measure, we aim compliance During 2009/2010, less than 1% of to inspect 25% of oil tanker and all reported incidents were related to bunkering operations of vessels New dredging permit environmental matters, consistent that enter the port limits each year. with the 2008/2009 result. No Class Recent changes to the Environmental This year we achieved the minimum A or B incidents were reported and Protection Regulation 2008 inspection of 25%. require port authorities to obtain three Class C incidents were reported Environmentally Relevant Activity in 2009/2010. Environmental notices Permits for Extractive and Screening See table: Environmental incidents directly Our activities operate within Activities, which includes dredging associated with our activities during environmental legislation administered operations. Port authorities were 2009/2010 on the opposite page. by local, state and federal authorities. previously exempt from this In 2009/2010 we did not receive any requirement. Oil and chemical spills environmental infringement notices Under a Deed of Agreement with We have been working with DERM from the relevant environmental MSQ, we are required to provide the (the former Environmental Protection regulators, or receive any penalty initial response for any oil or chemical Agency) and other Queensland ports infringement notices relating directly spills that may occur within port limits. to ensure all required permits and to our activities. registration certificates are in place. Under MSQ’s direction, we assess the This is necessary to ensure nature of the spill, help to determine Environmental complaints continuity of dredging operations the resources required for corrective We have a formally documented in the Port of Brisbane, and for the or preventative action, and implement procedure for receiving and Brisbane’s dredging contracts in these actions through a First Strike responding to complaints. This the northern ports. Response Team. includes a requirement to respond to each complaint within 24 hours. During 2009/2010, we responded Variations and incidents While a matter may not be able to be to three Class C oil spills associated Under our IMS all environment, safety resolved within this period, we are with our operations (see table: and property incidents should be committed to ensuring that the correct Environmental incidents directly identified, reported and assessed. action plan is established, and that associated with our activities on We classify environmental incidents all parties are notified of the actions opposite page). We also responded to as either: proposed. 14 oil and chemical spills that occurred on our tenants’ sites and on common In 2009/2010, we received two areas of the port, such as roads and environmental complaints. waterways. See table: Environmental complaints on the opposite page.
Outlook
Dredging trials Buffer plan Shorebird plan Our research into existing and new We will continue to maintain our We expect to complete the revised technologies and opportunities for the environmental management of the Shorebird Management Plan for 2001- reuse of dredged material will continue. port’s operations and its effects on the 2015 by August 2010. The plan will The 12-month trial of the dredged surrounding area. A major component of provide a continuing framework for material mud ponds in the FPE area this is the retention of the port’s buffer managing the potential impacts of PBC’s will be monitored during the year to areas, which separate port operations activities on shorebirds across all PBC assess its success and the possibility of from our nearest residential neighbours. controlled lands, including the FPE. adopting this technique. We are currently developing a Buffer The plan will evaluate previous Management Plan to define the desired management strategies and provide management outcomes of buffer areas and direction to ensure the protection and the management techniques required to enhancement of the shorebird habitat, achieve those outcomes. while allowing demand for port services to be met through future port expansion. 66 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our environmental performance
Key environmental performance indicators and targets
Indicator 2007/08 2008/09 2009/10 Target 2009/10 ✓ or ✗ No. of environmentally focused 4 4 6 4 or more ✓ training programs delivered to staff per year
No. of sites tested in Brisbane River 12 18 18 Continuous measure and Moreton Bay that contain material of river health unsuitable for disposal at sea1
Total est. quantity of general 46.4kg 44.4kg 64.7kg Continuous improvement ✗ and recyclable waste generated per employee2
Total est. % of recyclable material 52.6% 26.5% 25.5% Continuous improvement ✓ disposed of to landfill2
3 Total greenhouse gases/emissions 21,490t CO2-e 18,038t CO2-e 15,514t CO2-e Continuous improvement ✓
Total energy use 258,849GJ 222,208GJ 198,708GJ Continuous improvement ✓
Total electricity use 5,506MWh 4,413MWh 4,355MWh Continuous improvement ✓
Extent and condition of mangroves Overall mangrove health stable. Some Continue biennial adjacent to the port (FI)4 recovery of dieback areas, but offset by monitoring enlargement of a dieback area at eastern FI.
Contamination of wetland Hydrocarbons above guideline levels at some Continue to monitor sediments4 FI and WI sites. No organochlorine pesticides sediment condition detected at FI or WI. With the exception of nickel at one site, all heavy metal concentrations below guideline levels.
No. of AQIS target weed species 0 4 0 Six-monthly inspections identified during Lucinda Drain survey of Lucinda Drain
No. of turtles killed by the operation of 1 0 1 0 ✗ Corporate governance the Brisbane
No. of reported environmental incident 7 5 3 0 ✗ variations resulting from PBC’s practices, processes or services
No. of environmental notices issued 0 0 0 0 ✓ to PBC
No. of environmental complaints 4 2 2 0 ✗ received
No. of system or operational 0 0 0 0 ✓ non-conformances from SAI Global’s audit of PBC against ISO 14001:2004
Quality of stormwater run-off from FI Some instances of heavy metals, suspended Continue to monitor (Lucinda Drain Discharge) soils, nutrients and total petroleum hydrocarbons discharge exceeding long-term water quality objective concentrations.
Est. quantity of potable water used 2.62ML 2.86ML 2.52ML Reduce reliance on directly by PBC at our FI facilities potable supply through and our Operations Base (including substitution where irrigation areas)5 possible
Quality of groundwater Average groundwater remains below the Six-monthly monitoring Australian Drinking Water Guidelines. Ammonia levels remain above the physico-chemical indicator value for the 80th percentile guideline value for SE Qld sub-region.
1 A total of 45 sites tested within the Brisbane River, 2 Refers to waste data collected at the Port Office, 4 Results based on survey completed in March 2010. including 9 sites tested between the Inner Bar and Operations Base and BMT. 5 Re fers to Port Office, Operations Base, Visitors Outer Bar Cuttings. 3 Net of GreenPowerTM Centre, irrigation areas and various temporary construction sites managed by PBC on FI. Insert section title Port of Brisbane Corporation Limited Annual Report 2009/2010 67 About this report IFC
Our vision, mission and values IFC
Our highlights 1
Our organisation 2
Privatisation milestones 3
Chairman and CEO’s report 12
Key corporate strategies 16
Our operational performance 21
Our social performance 37
Our environmental performance 49
Corporate governance
Our economic and financial performance 77
GRI content index 90
Independent Verification Statement 95
Index 96
Glossary and abbreviations 98
Port of Brisbane map 100
Contact us 102
Feedback form 103
Our financial reports (on CD) IBC 68 Port of Brisbane Corporation Limited Annual Report 2009/2010 Corporate governance
Corporate governance
The Board assumes Corporate governance includes The Board operates under a formal the policies and procedures that charter that details its functions overall responsibility for PBC’s Directors employ in their and responsibilities. This is publicly corporate governance, conduct of the Corporation’s available on our website. Duties and affairs, and their relationships with responsibilities as defined by the and monitors the shareholding Ministers, to whom charter include, but are not limited to: they are responsible as managers • monitoring performance against performance of PBC of the shareholders’ interests in financial strategic objectives the company. and its subsidiaries, • evaluating, approving and its management, In 2009 Queensland Treasury monitoring the strategic and published the second version of its financial plans of PBC and employees. Corporate Governance Guidelines for • evaluating, approving and Government Owned Corporations. monitoring the annual budgets, The guidelines are intended to provide Corporate Plan and SCI a framework for GOCs to develop, • evaluating, approving and implement, review and report monitoring major capital upon their corporate governance expenditure, capital management arrangements. They are based on the and all major corporate transactions eight principles set out in the ASX • approving the appointment, and Corporate Governance Principles and monitoring the performance, of the Recommendations. The following Executive Team section is set out under each of the • approving and monitoring PBC’s risk eight principles, to clearly demonstrate management framework how PBC performed against these • ensuring that, where possible, all standards. PBC’s business activities, including planning and development, See http://www.ogoc.qld.gov.au/ goc-policies/index.shtml for the are consistent with the State Corporate Governance Guidelines for Government’s priorities. Government Owned Corporations. See www.portbris.com.au/ aboutus/corporategovernance for Principle 1 – Lay solid foundations the Board Charter. for management and oversight Director induction and continuing The Board professional education The criteria for membership of the A process is in place for the induction Board are in accordance with the of new Directors. This involves the GOC Act: namely, that in appointing participation of the Chairman, the a person as a Director, the Governor relevant Board Committee Chairman, in Council must have regard to that Chief Executive Officer, Company person’s ability to make a contribution Secretary, and all other members of to the GOC’s commercial performance the Executive Team. and implementation of its SCI. All appointed Directors are non-executive. Board members are familiarised with For information on the skills, expertise their responsibilities as a Director, and appointment terms of each their role as a committee member, Director, see pages 8-9. the Code of Conduct and other applicable policies. To explain the role The Board assumes overall and diverse activities of the company, responsibility for corporate each General Manager provides new governance of PBC. It monitors Directors with a thorough briefing on the performance of PBC and its the role of their division. subsidiaries, its management and its employees, both directly and through the established Board Committees. Corporate governance Port of Brisbane Corporation Limited Annual Report 2009/2010 69
Our Chairman, David Harrison, and General Manager Corporate Governance and Company Secretary, Jenny Ryan.
During the year a formal Board Handbook was adopted, which outlines PBC’s corporate governance policies and establishes the guidelines for the operations of the Board. The handbook is designed to be read in conjunction with PBC’s Constitution. Directors are encouraged to attend workshops, seminars and conferences to update their skills and knowledge, so that they can undertake their role effectively. A Directors’ Continuing Professional Education (CPE) Policy sets out the approval process for CPE opportunities and the appropriate funding arrangements. Performance evaluation of senior executives The Board is responsible for appointing (with the agreement of shareholding Ministers), monitoring, managing the performance of, and, if necessary, terminating the employment of the Chief Executive Officer. The Chief Executive Officer’s performance is evaluated annually by the Chairman and Deputy Chairman against a set of Key Performance Indicators, which are approved by the Board each year. This evaluation occurred during the 2009/2010 year, with the Board being satisfied with the performance of the Chief Executive Officer. Senior executive performance is evaluated by the Chief Executive Officer every six months, in accordance with the company’s established Development and Performance System. Accordingly, reviews were conducted twice during 2009/2010, and results were reported to the Board. 70 Port of Brisbane Corporation Limited Annual Report 2009/2010 Corporate governance
Principle 2 – Structure the board to Privatisation Process Committee add value To delegate oversight of PBC’s Board meetings compliance with the privatisation process, the Board established the Board meetings are held as Privatisation Process Committee in necessary to ensure that it is able to July 2009. The committee generally fulfil its functions and carry out its meets monthly, and at year-end responsibilities. Eight meetings of comprised David Harrison (Chairman), the Board were held during the year. Catherine Sinclair, Loftus Harris and The table on page 76 provides details Susan Rix. of Directors’ attendance at those To delegate oversight meetings. The committee provides advice and recommendations to the Board as to of PBC’s compliance The Chairman and Chief Executive the actions necessary to ensure the Officer discuss and finalise the with the privatisation Corporation complies with any project agenda for each meeting, which direction or transfer notice under process, the Board routinely includes: monthly reports the Infrastructure Investment (Asset on the company’s financial and established the Restructuring and Disposal) Act 2009. non-financial performance (through Privatisation Process a Chief Executive Officer’s Report The qualifications of committee Committee in detailing the activities of each members have been included in division); quarterly due diligence Directors’ biographies on pages 8-9. July 2009. reports; and commercial and Attendance at meetings is included in governance decisions requiring the table on page 76. resolution. Each meeting also includes See www.portbris.com.au/ presentations by employees or aboutus/corporategovernance/ invited guests, on issues impacting committeesandpolicy for the the organisation. Board papers are Privatisation Process Committee circulated one week before the charter. meeting, to enable Directors sufficient Director independence time to consider the information and, if necessary, to request additional The following materiality thresholds information to support them in their are included in the Directors’ decision-making. Independence Policy: Board committees • a material professional advisor or consultant is one whose fees The Board may delegate its powers to PBC in a financial year exceed to a committee of Directors. PBC $100,000 has four such committees: the Audit • a material supplier is one the value and Risk Committee, the People and of whose sales to PBC in a financial Culture Committee, the Planning, year exceeds 2% of the value of Construction and Environment total purchases Committee, and the Privatisation • a material customer is one the Process Committee. value of whose purchases from These committees have up to four PBC in a financial year exceeds Directors as members, one of whom 2% of revenue is appointed as Chairman by the • a material contractual relationship, Chairman of the Board. The Chief other than any of those described Executive Officer and the other above, is one in which the relevant members of management consideration payable under also attend committee meetings. the contract exceeds $100,000. Each of the committees has its own Materiality is assessed on a case-by- charter, which is reviewed regularly. case basis from the perspective of See www.portbris.com.au/ both PBC and the relevant Director, aboutus/corporategovernance for having regard to the Director’s our Board Committee charters. individual circumstances. The Board may determine that the Director is independent notwithstanding the existence of a relationship of the kind referred to above. However, the Board will state the reasons for making its determination in such a case. All Directors are deemed to be independent against these thresholds. Corporate governance Port of Brisbane Corporation Limited Annual Report 2009/2010 71
Board performance evaluation Every two years, an evaluation of Members of our internal privatisation working group, the performance of the Board is Warren Wood, Iva Dinalova, Karen Weatherburn undertaken, to assist Directors to and Rosie Field. identify the strengths and weaknesses of the Board and identify areas for improvement. A review was conducted in 2008/2009, facilitated by an independent third-party consultant. It took the form of a questionnaire and interview-based process, which focused on key governance areas like board competencies, structures and behaviours. The consultant concluded that the Board had performed well with a very strong overall performance rating. The consultant also made several recommendations on potential areas of Board development, and a number of these were implemented during Principle 3 – Promote ethical and In addition to the Directors’ Code 2009/2010. These included: responsible decision-making of Conduct, an Employees’ Code of • ensuring earlier involvement by the Conduct is supported by an online Ethical standards and disclosure Board in the strategy development learning program, which has been of interests process, and allocating more time developed to ensure that employees to discussion of the Corporate Plan A Directors’ Code of Conduct outlines understand the provisions of the and SCI at the relevant meetings the role and duties of PBC’s Directors, code. They are required to repeat this • further formalising discussions and provides guidelines for appropriate program every two years to keep up around CEO and senior executive behaviour by Directors in the to date on the code’s requirements. succession and retention planning performance of their duties. The code In addition, face-to-face training • introducing additional, regular also includes a policy for trading in sessions are held for all new Board assessments, to ensure securities by Directors. It is reviewed employees as part of their induction. strengths are retained and areas of annually and signed by each Director. A copy of the code is distributed at development are acted on. See www.portbris.com.au/ these sessions and is also available on aboutus/corporategovernance for the Intranet site for ease of reference. The next external evaluation is our Directors’ Code of Conduct. planned for 2010/2011. Principle 4 – Safeguard integrity in Independent professional advice Each Director is required to sign financial reporting a confidentiality agreement and a During the year, the Board adopted disclosure of interests form at the Audit and Risk Committee a formal Directors’ Access to commencement of their directorship, PBC has an Audit and Risk Committee Independent Professional Advice to identify any areas of activity that that met four times during the year, Policy. It sets out the process by may lead to a conflict of interest. and at year-end comprised Susan which Directors can obtain access Each meeting of the Board Rix (Chairman), David Harrison, and to independent professional advice, commences with a declaration Peter Lancaster. The qualifications of at PBC’s expense, to assist them in of interests by Board members. Audit and Risk Committee members carrying out their duties. Directors absent themselves from have been included in Directors’ Bundaberg Port Corporation Pty Ltd the meeting while any matters of biographies on pages 8-9. Attendance at meetings is included in the table on On 1 November 2009, PBC’s potential conflict of interest are page 76. responsibility for the Port of discussed, and all reference to these Bundaberg was transferred to matters is removed from the copy Gladstone Ports Corporation, under of the minutes that they receive. the Government Owned Corporations (Bundaberg Port) Regulation 2009. Following the transfer in June 2010, PBC submitted an application to the Australian Securities and Investments Commission (ASIC) for the voluntary deregistration of its subsidiary, Bundaberg Port Corporation Pty Ltd (BPC). 72 Port of Brisbane Corporation Limited Annual Report 2009/2010 Corporate governance
The responsibilities of the Audit and Internal audit review Risk Committee include, but are not The Audit and Risk Committee limited to: defines the internal auditor’s scope • ensuring compliance with the of work through establishment relevant accounting standards and of an annual internal audit plan. legislative requirements, through It reviews the reports of the internal adequate internal controls and auditor, and assesses the quality procedures of work performed. The Audit and • approving the scope and extent of Risk Committee Chairman meets the annual audit plan, reviewing regularly with the internal auditor, In June 2010, the findings and recommendations independently of management. shareholders of external auditors, and ensuring Ernst & Young has now been PBC’s appropriate response from internal auditor since January 2001. approved the Board’s management Towards the end of 2008 PBC invited recommendation of • ensuring annual financial firms to tender for appointment as statements reflect the true financial its Internal Auditors. As a result of a dividend payment condition of PBC assessment against the criteria set, of 80% of after-tax • approving the appointment, Ernst & Young was reappointed for and scope of work, of the another two years. The appointment operating profit. internal auditors, and assessing of the internal auditor is planned for their performance against the review again in August 2010. committee’s expectations • monitoring the overall operation of During the year Ernst & Young the company’s risk management submitted internal audit reports on: system • Internal Audit Progress • monitoring the company’s activities (quarterly reports) with regard to compliance with the • Governance (annual report) Maritime Security Plan. • Budgeting and Financial See www.portbris.com.au/ Performance aboutus/corporategovernance/ • RTS IT Project Management committeesandpolicy to read the • Controlled Self Assessment (CSA) Audit and Risk Committee Charter. Compliance • Legal Compliance In addition to fulfilling the above • Asset Management responsibilities, during the year the • Carbon Pollution Reduction Scheme committee also: Readiness • maintained a strong focus on • Revenue Management aspects of the privatisation process, • Boat Harbours in particular financial and IT aspects • Tax Compliance • considered specific accounting • Office Relocation – IT Planning treatment issues regarding • Property Administration privatisation • Payroll. • approved a revised Fraud and Misconduct Standard, and reviewed Directions and notifications given the Fraud and Misconduct Control under the GOC Act Plan. PBC received no directions under the GOC Act from shareholding Ministers External audit arrangements during the past financial year. In accordance with the GOC Act and the Auditor-General Act 2009, PBC Directions and notifications given uses the Queensland Audit Office as under the Infrastructure Investment its external auditor. (Asset Restructuring and Disposal) Act 2009 PBC received, and complied with, several directions under this Act from the Treasurer and project director during the past financial year. Corporate governance Port of Brisbane Corporation Limited Annual Report 2009/2010 73
The majority of the directions related Principle 5 – Make timely and Principle 6 – Respect the rights to the divestment of non-port assets balanced disclosure of shareholders – including boat harbours, a number of Corporate planning and reporting This principle requires GOCs to landholdings outside the port area respect the rights of shareholding PBC’s Shareholder Communication (at Raby Bay and in Brisbane City), Ministers and their representatives, Policy sets out the framework for and land at Northshore Hamilton – having regard to the requirements providing shareholding Ministers with in preparation for the restructuring of responsible government, and sufficient information to maintain and subsequent sale of the company. to facilitate the effective exercise an informed view of PBC and its of those rights. GOCs should not Dividend policy operations, and to maintain effective only comply with existing legal and PBC’s dividend policy takes into relationships with management and regulatory requirements, but also go account the return that shareholders the Board. The policy includes a range beyond them where relevant, to build expect from their investment, and of formal and informal periodic and credibility and confidence. the ongoing capital-investment ongoing communication measures. requirements of the business. In June PBC’s Shareholder Communication A five-year Corporate Plan and 2010, shareholders approved the Policy, as described earlier, sets 12-month SCI is prepared for Board’s recommendation of a dividend out both the formal and informal shareholding Ministers’ approval payment of 80% of after-tax operating measures through which shareholding annually. The SCI forms the basis of profit, adjusted for any unrealised Ministers are kept up to date with the performance contract between capital gains arising from revaluation corporate information. At all times, the Board and shareholding Ministers. of investment properties. employees and Directors strive to Status reports to shareholding ensure proactive, timely and thorough Schedule of interests Ministers are submitted on a quarterly communication with government. At the commencement of the year basis. Performance against key targets PBC had one subsidiary, namely and result areas is reported monthly to Principle 7 – Recognise and Bundaberg Port Corporation Pty Ltd the Board. manage risk (since 1 October 2007). Following the The Chairman and Chief Executive Privatisation shapes refinements to transfer of the Port of Bundaberg to Officer seek quarterly meetings with risk framework Gladstone Ports Corporation Limited shareholding Ministers. They also The Risk Management Policy sets on 1 November 2009, in June 2010, request ad hoc meetings as required, out the processes, responsibility, and PBC submitted an application to ASIC when there are issues of significance accountability for risk management for the voluntary deregistration of the to discuss. In addition, Directors and within the company. It recognises that Bundaberg Port Corporation Pty Ltd shareholding Ministers are advised of risk management is an integral part (BPC), at which time it will cease as any issues that may arise, as well as of good management and corporate a subsidiary of PBC. of any achievements or successes. governance practice, and that, This is done through written briefings On 21 May 2010, ASIC incorporated a in relation to commercial strategy, as required. new wholly owned subsidiary of PBC an element of risk is inevitable – Port of Brisbane Pty Ltd (PBPL). See www.portbris.com.au/ and, in some cases, encouraged. The new company was established aboutus/corporategovernance to It supports a structured and focused in compliance with a project direction read the Shareholder Communication approach to managing risk, that Policy. issued under the Infrastructure complements the strategies adopted Investment (Asset Restructuring Due diligence reporting to achieve corporate objectives, and Disposal) Act 2009. PBPL was increase confidence and enhance A system of compliance and due established to be the lessee of the the value the company provides to diligence reporting to the Board is in port land, buildings and infrastructure, its stakeholders. and to acquire the other assets, place. The Board seeks management liabilities, contracts, permits and representation on a range of issues, PBC’s risk management process is licences that were used by PBC in including workplace health and based on the Australian/New Zealand the operations of the Port of Brisbane. safety, the environment, the Trade Standard AS/NZS 4360:2004 – On 1 July 2010, the majority of the Practices Act 1974, consultant Risk Management. The philosophy business of PBC was transferred by and contractor selection, equal towards risk is not to be risk averse Transfer Notice to PBPL. It is intended employment opportunity, industrial but to enable risks to be identified, that the shares in PBPL will be sold to relations, IT, litigation and public discussed, mitigated and monitored the private sector by the end of 2010, liability. Management overviews are in a balanced manner. To ensure subject to market conditions. also provided at quarterly, half-yearly this philosophy is supported without and annual intervals. Issues raised are creating unnecessary burden on the See Notes to the Financial Statements for monitored or acted upon, as required. business, risk management activities further information (on CD). are integrated into all business See www.portbris.com.au/aboutus processes, and risk management to read more about our corporate reporting is embedded into existing structure. reporting functions. 74 Port of Brisbane Corporation Limited Annual Report 2009/2010 Corporate governance
The Enterprise Wide Risk This year, we conducted an annual Management system includes four surveillance audit to ensure ongoing main risk registers: compliance and follow-up action on previous recommendations. • the Strategic Risk Register • the Assurance and Governance This standard is a major component of Risk Register our Integrated Management System • the Environment and Community (IMS), which incorporates international Risk Register and national standards of quality, • the HR, Safety and Quality occupational health and safety, and Assurance Risk Register. environmental management systems, By ensuring the risk as well as maritime safety and rail. Each risk is assigned a risk owner, registers drive the who is required to formally review For more information on our performance and update risks on a monthly basis. under health and safety and environmental prioritisation of internal standards, see Our social performance and Each risk is assigned a range of Our environmental performance. audits, PBC ensures attributes, including description, controls, and inherent and residual Planning, Construction and maximum value from risk ratings. Included in relevant Board Environment Committee the audit program. or committee meeting agendas is a To further address the risks we face risk review report, outlining the status on a social and environmental level, of key risks and any action taken to we have a Planning, Construction and address them. Environment Committee that meets quarterly, and at year-end comprised The Board provides ultimate Catherine Sinclair (Chairman), oversight of the risk management Ted Brown, and Bill Guest. framework. Functions of the Board’s The membership of this committee responsibilities include: changed during the financial year, • approving the company’s risk with the first meeting attended tolerance and risk appetite by Peter Low. • receiving and challenging the The qualifications of committee strategic risk profile on a members have been included in regular basis Directors’ biographies on pages 8-9. • reviewing, from time to time, risk Attendance at meetings is included information that is provided by the in the table on page 76. Audit and Risk Committee • reviewing other material The Planning, Construction risks presented by the Board and Environment committee’s Committees. responsibilities include, but are not limited to: During the year, PBC continued to monitor and refine the risk registers, • ensuring long-term sustainable particularly in light of the privatisation development of the port, and process. PBC has also been working ensuring the port is recognised to achieve greater alignment between as an industry leader by adopting the risk management framework leading sustainability principles and internal audit approach, and the • ensuring compliance with climate internal auditors (Ernst & Young) change, planning and environmental have provided positive feedback statutory standards, under state and on progress. By ensuring the risk federal legislation registers drive the prioritisation of • reviewing and monitoring internal audits, PBC ensures maximum environmental risk assessment, and value from the audit program. compliance with the Environmental Management System Quality standard maintained • reviewing the company’s response Last year we reported that we to environmental incidents, maintained our accreditation and including coordination with other received no non-conformances in the key agencies. triennial recertification audit of our See www.portbris.com.au/ systems under ISO 9001:2008 – the recognised international standard for aboutus/corporategovernance/ committeesandpolicy to read processes affecting quality. the Planning, Construction and Environment Committee Charter. Corporate governance Port of Brisbane Corporation Limited Annual Report 2009/2010 75
In addition to fulfilling the above See www.portbris.com.au/ Movement within pay increment responsibilities, during the year the aboutus/corporategovernance/ levels for award employees is committee also: committeesandpolicy to read linked to achieving agreed levels of the People and Culture Committee performance, with annual increases • reviewed PBC’s emergency Charter. paid in accordance with the relevant response plans in light of the Pacific In addition to fulfilling the above Enterprise Bargaining Agreement. Adventurer incident responsibilities, during the year the • reviewed progress on the dredged Performance payments committee also: material reuse strategy, and The company’s Development and monitored progress on dredged • reviewed the results of the Performance System is continuously material handling trials employee Climate Survey and monitored to ensure consistency • reviewed the results of the port recommended follow-up actions and fairness in approach, and that emissions inventory • reviewed and endorsed the People the privacy and confidentiality of the • monitored progress on the issue of and Culture Strategic Plan individual’s information is respected mangrove dieback in Moreton Bay • reviewed and endorsed the and maintained. • reviewed progress on the new Land Enterprise Bargaining Agreement Use Plan, under development as framework. For all non-award employees, the part of the privatisation process system incorporates a remuneration • monitored the progress of Remuneration arrangements for reward component. The remuneration negotiations with Native Title Directors and senior executives reward strategy supports efforts claimants regarding the State The Directors of the company are paid aimed at achieving company, divisional Government’s acquisition of Native by way of fees for their services as and individual performance goals Title of the FPE area. approved by shareholding Ministers at and demonstrating consistency with a general meeting. identified leadership behaviours. Principle 8 – Remunerate fairly and It is linked to the achievements of The compensation arrangements responsibly the individual, as determined by their for the Chief Executive Officer and performance management rating. People and Culture Committee senior executives are determined PBC has a People and Culture by the Board, in accordance with Key elements of the strategy include Committee that meets a minimum a remuneration policy approved by the following: the Board and consistent with the of three times a year, and at year-end • The link to the at-risk or incentive Government Owned Corporations comprised David Harrison (Chairman), payment of 15% applies only to Governance Arrangements for Susan Rix and Loftus Harris. the Executive Team and non-award Chief and Senior Executives of The membership of this committee employees. February 2009. changed during the financial year, • Award employees receive a set with the first meeting attended Details of remuneration to Directors payment if they achieve the by Glen Toll. and senior executives are disclosed in individual goals agreed with their The qualifications of People and the Notes to the Financial Statements General Manager, and a further set Culture Committee members (see Note 33 on CD), in accordance payment if predetermined corporate have been included in Directors’ with remuneration disclosure goals are achieved. biographies on pages 8-9. Attendance requirements of GOCs. at meetings is included in the table General remuneration arrangements on page 76. While PBC does not have a specific The People and Culture Committee’s Remuneration Committee, the People responsibilities include, but are not and Culture Committee considers limited to: remuneration arrangements for all employees. • ensuring the adequacy of the company’s policies, controls and The committee reviews the procedures to deal with human remuneration of non-award resource management, planning employees, including senior and development, and industrial executives, every year, in accordance relations issues with the company’s Development • ensuring compliance with the and Performance System, and Chief various legislative and regulatory and Senior Executive Remuneration requirements, and that the Policy. External consultants provide company’s systems and policies are the necessary reports to benchmark adjusted to reflect changes to these remuneration levels with the approved requirements industry sector. • providing strategic direction on human resource issues, including remuneration, succession planning, occupational health and safety, equal opportunity and anti-discrimination. 76 Port of Brisbane Corporation Limited Annual Report 2009/2010 Corporate governance
Directors’ Attendance at Board and Committee Meetings Board Audit and Risk People and Culture Planning, Construction and Privatisation Committee Committee Environment Committee Process Committee # 8 held 4 held 3 held 4 held 9 held David Harrison 8 4 3 9
Catherine Sinclair 7 4 8
Professor Ted Brown AC 8 4
Peter Lancaster 7 4
Peter Low OAM* 1 (out of 2) 1 (out of 1)
Glen Toll* 2 (out of 2) 1 (out of 1)
Loftus Harris AM 8 3 9
Bill Guest 7 4
Susan Rix 6 4 1 (out of 1) 8
* Glen Toll and Peter Low OAM ceased to be Directors on 30 September 2009. # Additional Directors were invited to attend a number of Privatisation Process Committee meetings that were held immediately prior to the Board meetings.
2009/2010 Corporate Entertainment and Hospitality expenses over $5,000
Event Date Cost ($) Purpose/benefit Dinner Dance July 2009 20,259 Employee engagement (annual employee event)
Corporate Christmas Cocktail Function November 2009 22,772 To report end-of-year results to (annual stakeholder event) stakeholders and provide important networking opportunities
Total 43,031 Outlook
While PBC has already undergone Private ownership of PBPL will likely PBPL will continue to use the strategic significant changes in preparation for mean that it will acquire a new Board. risk management framework, and the restructuring and separation of This new Board will be able to rely on the further refine our risk registers to take business activities on 1 July 2010, comprehensive induction program that account of the changes to the business, during the next year PBC and PBPL already exists for new Directors of PBC, regulatory and legislative environments will undergo further restructuring and excellent governance systems and as the company moves from a subsidiary and changes as the shares in PBPL policies, which have been adopted of a GOC to a privately owned company are expected be sold to the private by PBPL. operating under a long-term lease. sector by the end of 2010, subject to market conditions. PBC’s Directors PBPL will also ensure that a thorough A key focus will be to ensure alignment will be working hard in the lead-up evaluation of the governance arrangements of our key business objectives, our to the transaction to ensure both is conducted with PBC’s Directors and any understanding and responses to PBC and PBPL are well positioned new Directors, to capture any feedback strategic risks, and the responsibilities for the change, with the appropriate or recommendations for improvements, we will have as a private sector operator governance structures in place. ensuring that it is able to respond to the of the port. requirements of a private sector operator. Insert section title Port of Brisbane Corporation Limited Annual Report 2009/2010 77 About this report IFC
Our vision, mission and values IFC
Our highlights 1
Our organisation 2
Privatisation milestones 3
Chairman and CEO’s report 12
Key corporate strategies 16
Our operational performance 21
Our social performance 37
Our environmental performance 49
Corporate governance 67
Our economic and financial performance
GRI content index 90
Independent Verification Statement 95
Index 96
Glossary and abbreviations 98
Port of Brisbane map 100
Contact us 102
Feedback form 103
Our financial reports (on CD) IBC 78 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our economic and financial performance
Our economic and financial performance
Financial Trend Analysis to 30 June 2010 Our goal is to add long-term shareholder value by optimising 2006 $M 2007 $M 2008 $M 2009 $M 2010 $M financial returns and assessing risks Income statement and opportunities.
Operating revenue 271.6 282.7 606.6 660.6 420.3 The successful operation of a port depends upon the services of a Operating expenses including 49.8 57.9 62.6 74.5 66.2 large range of businesses. PBC’s employee benefits capital and operating expenditure, Depreciation/amortisation 18.7 22.2 35.8 31.5 32.5 as well as services provided by other businesses, result in the Port of EBIT 203.1 202.6 508.2 554.5 321.6 Brisbane having a significantly positive effect on Queensland’s employment Finance costs 32.0 33.5 10.9 23.4 26.6 and economic development. Income tax expense 50.8 54.2 58.5 86.9 62.7
Net profit after tax 120.3 114.9 438.8 444.2 232.3 Operating results
Dividends provided for or paid 35.8 49.6 324.2 339.1 60.7 Earnings Balance sheet Earnings before interest and taxation (EBIT) for the year Total assets 1,893.3 2,268.5 2,231.8 2,715.3 2,580.3 amounted to $321.6 million, Total liabilities 925.1 1,077.2 1,072.3 1,276.5 1,304.4 of which $186.2 million was a result of the fair value gain on Net assets/shareholders’ 968.2 1,191.3 1,159.5 1,438.8 1,275.9 our investment properties. equity This resulted in an operational EBIT of $135.4 million. Revenue Composition Economic Value Management 2006 $M 2007 $M 2008 $M 2009 $M 2010 $M (EVM) Trade-related charges 70.6 77.6 86.9 84.5 91.2 EVM measures the profit after subtracting the cost of capital and Rentals 33.9 42.7 50.6 66.5 86.6 adjustments for non-cash items. Services 16.6 19.5 22.1 27.2 27.5 The result for EVM of $90.5 million was dominated by the revaluation Other 42.1 67.0 66.8 6.2 4.5 of our investment properties, Subtotal 163.2 206.8 226.4 184.5 209.8 which contributed in excess of $186.2 million in revenue. However, Fair value gains on investment 108.0 75.6 104.3 242.6 186.2 asset revaluations increased the cost property of capital charge, partially offsetting Net gains on disposal of – – 275.9 233.4 24.3 these gains. financial assets Work in progress continues to Total 271.2 282.4 606.6 660.6 420.3 unfavourably impact economic profit, as a number of projects in our significant capital expenditure program There has been good revenue growth, driven by growth in trade and increases in property are not yet generating income. rentals from new leases and higher land value. Services revenue is up on last year, due to The capital program has accelerated dredging contracts and security-cost recovery. Other revenue has decreased due to the in recent years due to the number of timing of sales of inventory and property, plant and equipment. major projects, which has resulted in a larger work-in-progress amount and its associated impact on economic profit. However, this expenditure will contribute strongly to future returns. Our economic and financial performance Port of Brisbane Corporation Limited Annual Report 2009/2010 79
Our General Manager Finance and Business Services, Darryl Mutzelburg.
Trade revenue Trade revenue increased by $6.6 million from 2008/2009 to $91.2 million for the year ($10.9 million over budget). This increase is largely attributable to the recovery of the economy following the global financial crisis. See Containers and cars return to positive growth on page 22.
Fair value gains on investment properties We continued to record substantial fair value gains due to investment property valuations. An independent revaluation resulted in a fair value gain of $186.2 million, compared to our budgeted amount of $50.0 million. Our investment property portfolio exceeds $1.2 billion in value, despite $250.5 million being transferred to Queensland Government entities as part of the Renewing Queensland Plan. We have managed to achieve consistent growth in our investment property portfolio, as a direct result of continued capital investment in our land holdings.
Gain on sale of assets The net gain on asset sales totalled $24.3 million. This was mainly due to our strategy of disposal of non-core land in conjunction with the provision of developed sites for sale in precincts like Eagle Farm, Colmslie, Pinkenba and Hamilton.
Other revenue Other revenue increased by $18.7 million from 2008/2009. Rental revenue increased by $20.0 million from the previous year to reach $86.6 million ($15.6 million over budget). This was mainly due to continued rental reviews associated with land valuation increases. Dredging operations continue to provide economic benefit to the company, contributing $16.0 million to other revenue. This was $5.6 million over budget and $2.0 million above 2008/2009. 80 Port of Brisbane Corporation Limited Annual Report 2009/2010 Our economic and financial performance
Other services such as our hospitality Income tax expense Inventories decreased by venues, the Brisbane Multimodal Income tax expense totalled $91.1 million from 2008/2009 to Terminal (BMT) and our security $62.7 million, which was a decrease $4.9 million. This was mainly due services, contributed $12.8 million of $24.2 million from 2008/2009. to the $83.6 million transfer of to other revenue. The effective tax rate of 21.3% landholdings to the Queensland (calculated as total tax expense Government. Remaining inventories Employee expenses divided by NPBT*), was higher are comprised of land to be developed Employee benefit expenses than the 2008/2009 rate of 16.4%. for sale in the suburb of Colmslie. totalled $35.1 million, an increase of This was due to the tax-free treatment Liabilities $0.9 million or 2.5% on 2008/2009. of the profit on sale of shares in Full-time equivalent employees BACH, which occurred in 2008/2009. Total liabilities increased by $27.9 million decreased from 378 to 328 during to $1.30 billion. This was mainly due the year, a 13% decrease. This was Our effective tax rate was much to a $70.0 million increase in loan mainly due to the transfer of Port of lower than the income tax rate of borrowings, offset by a decrease in Bundaberg employees to Gladstone 30%, mainly due to the adjustment provisions for deferred income tax Ports Corporation Limited (GPC). of taxable income and allowable of $35.2 million. Creditors totalled deductions due to timing issues. $85.3 million at 30 June 2010, Operating expenses Of the $62.7 million expense, which includes a $60.7 million Operating expenses, before $55.9 million was attributable to dividend payable to the Queensland capitalised internal development the fair value gain on investment Government. costs, totalled $48.1 million, which properties. This was offset by a Equity was $5.6 million under budget and a $6.2 million over provision from the $9.2 million decrease on 2008/2009. previous year, as a result of finalisation Contributed equity decreased This was mainly the result of the of the 2007/2008 research and by $317.8 million to $6.5 million, transfer of Port of Bundaberg development claims. following the transfer of Northshore operations to GPC, and the company’s Hamilton land to the Queensland continued review of our operations Income tax is paid to the Queensland Government on 9 April 2010. with the purpose of generating further Government under the provisions of Asset revaluation reserves decreased efficiencies and savings. the National Tax Equivalents Regime (NTER). by $34.0 million to $460.4 million. These reviews resulted in further cost This was a direct result of the reductions in operational areas like: * Net profit before tax $31.0 million transferred to retained repairs and maintenance; services earnings, following the transfer of and consultants; advertising and Balance Sheet assets under the Renewing promotion; materials and supplies; Queensland Plan. and staff training and development. Assets Retained profits increased by Depreciation, amortisation and At 30 June 2010, assets under $188.9 million. This was a impairment expense management totalled $2.58 billion, result of our net profit after tax of $232.3 million, less dividends paid/ Depreciation, amortisation and a decrease of $135.0 million from declared of $60.7 million. In addition, impairment expense totalled 2008/2009. The decrease was mainly retained earnings were adjusted for $32.5 million for 2009/2010, a due to the transfer of assets to the realised reserves and the disposal of $1.0 million increase from 2008/2009. Queensland Government, including net assets under the Renewing This was mainly due to the increase land at Northshore Hamilton, boat Queensland Plan. in the value of our asset base, which harbours, City Reach leases, the was a direct result of the large Port of Bundaberg, and other increase in our asset values from non-strategic land. Other the 2008/2009 revaluations. The transfer was part of the Renewing Queensland Plan, and enacted under Suppliers Finance costs the Infrastructure Investment (Assets As a result of our capital investments Finance costs increased to Restructuring and Disposals) Act and ongoing operating activities, we $52.3 million before capitalisation 2009. Investment property fair values annually incur significant amounts on of $25.7 million, resulting in a net continued to increase, resulting in goods and services. In 2009/2010 this finance cost of $26.6 million. a gain of $186.2 million. We also amounted to $120.6 million. This represented an increase of invested an additional $147.8 million $3.2 million from 2008/2009, and in assets through our capital program, The value of goods and services was mainly due to an additional loan including $25.7 million of capitalised sourced from Queensland suppliers drawdown of $70.0 million and an interest. totalled $97.2 million or 81%, of which increase in capitalised interest of $93.1 million or 78% came from Cash holdings decreased by $4.0 million. All borrowings are within the greater Brisbane area. $0.3 million to $16.0 million sourced from the Queensland We sourced $7.1 million or 6% from and receivables decreased by Treasury Corporation (QTC). the local Wynnum and Manly area. $10.7 million, which was mainly due to the transfer of numerous debtors Our spending pattern injects to Queensland Government entities. significant activity into the local and state economies. Our economic and financial performance Port of Brisbane Corporation Limited Annual Report 2009/2010 81
Responsible sourcing Our financial stability indicators, 2010/2011 Financial Targets Our commitment to responsible debt/equity ratio and interest cover, Performance Target 2010/11 Budget sourcing continued with our hospitality again highlighted our ability to continue venues and new Port Office operations in the long term and be able EBIT $152.5 million exclusively using Fair TradeTM coffee. to satisfy our long-term commitments. EBITDA $187.4 million Last year, PBC committed to purchase Our debt/equity ratio (long-term NPAT $71.0 million computers and monitors compliant borrowings divided by total equity) with the performance criteria under reached 58%, which was on target Return on Assets 5.3% the Electronic Product Environmental and up from our 2008/2009 result Assessment Tool (www.epeat.com). of 48%. This increase was due to Return on Equity 4.7% an increase in loan borrowings of In 2009/2010, 100% of our desktop Debt/Equity 46% computers and workstations met the $70.0 million, and a reduction in gold criteria; 41% of our monitors equity due to the transfer of assets Current Ratio 5.19 were gold and 51% silver; and 82% of to the Queensland Government. (excluding notebooks were gold and 18% silver. Interest cover, which is an indication dividend payable) of our ability to satisfy our interest Productivity Interest Cover 3.79 payments from current year profits, Productivity, as measured by average reached 13.31% at 30 June 2010. This teus per quayline metre, dropped result surpassed our target of 4.52%. Future Developments this financial year. This was mainly Since the announcement on 2 June due to a reduction in the number of 2009 of the Queensland Government’s containers that came through the port Outlook Renewing Queensland Plan, a number in the earlier months of 2010, and the of non-core port assets have been Our asset values have increased increase in available quayline from the transferred to the government in due to major asset revaluations, and beginning of 2009. preparation for the sale of the port. the commissioning of the General Future productivity is expected to Purpose Berth and the new Port On 1 July 2010, approximately increase as trade continues to grow in Office building. $77.8 million of our net assets and coming years, and we will continue to all of our employees were transferred We have substantial land holdings work with port operators to encourage to PBPL, a wholly owned subsidiary where increases in land values are greater efficiencies. of PBC. Shares in PBPL will be sold reflected in increased rental income. to private owners. The Queensland Ratio Analysis Our diverse range of incomes Government will retain ownership of assists us in improving our returns to Rate of return on total assets is all land, channels, and infrastructure shareholders, and provides cash flow used to measure the rate of return assets associated with the port, and to implement our significant capital earned by the company through will enter into a 99-year lease with works program. operating activities. We achieved a PBPL. The lease to PBPL will pass 12.1% return on assets in 2009/2010, We are also successfully divesting all costs associated with the use compared to our target of 6.4%. ourselves of non-core land assets, in and occupancy of the port, including The excess return was due to better conjunction with providing developed rates, land tax (to the extent permitted than expected fair value gains on sites for sale, and these sites are by law), insurance, repair and investment property, however, achieving commercially sound returns. maintenance costs and any required operational performance and finance capital expenditure to PBPL. cost saving accounted for 7.3%. Notwithstanding, we consistently review our operations to generate At balance sheet date there is Return on equity for 2009/2010 efficiencies and savings. These uncertainty around the timing and equated to 17.1%, which was savings have been reflected in our nature of the disposal of the shares in 9.5% better than our target of 7.6%. 2010-2015 Corporate Plan. PBPL, and the nature of the 99-year Once again, this was due to the lease to PBPL. better than expected fair value gain 2010/2011 Financial Targets on our investment properties, better We have committed to achieving operational performance, and less the following financial performance than expected finance costs. targets in 2010/2011:
Darryl Mutzelburg General Manager Finance and Business Services 82 Port of Brisbane Corporation Limited Annual Report 2009/2010 Financial review
Financial review
Performance against SCI Statement of Corporate Intent 2009/2010 Key Performance Indicators Actual Results Target PBC’s actual performance during the year exceeded most targets set in the SCI. EBIT $321.6M $176.6M A summary of actual performance EBITDA (EBIT before Depreciation and Amortisation) $354.1M $206.0M against these targets is set out in the following table: NPAT $232.3M $108.4M
Return on Assets (EBIT divided by average assets) 12.1% 6.4%
Return on Equity (NPAT divided by average equity) 17.1% 7.6%
Debt/Equity 58% 57%
Interest Times Cover (EBITDA divided by interest expense) 13.31 4.52
Current Ratio 1.24 1.25
Tonnage 32.08M 30.90M
Teus 918,999 880,000 Financial review Port of Brisbane Corporation Limited Annual Report 2009/2010 83
Financial performance against budget 500 Revenue A Trade Total revenue exceeded budget by $142.3 million. This was mainly 400 due to greater than expected fair value gains on investment B Rental property, which accounted for $186.2 million. C Services D Sales 300 Trade revenue is derived from harbour dues and wharfage charges E Revaluations on cargo using the port and PBC’s wharves, respectively. F Other 200 Service revenue is primarily provided by dredging activities in G Total Queensland and other ports, but also includes the BMT, security 100 and hospitality revenue. Actual Inventory sales are from non-strategic land sales at up-river sites. Budget 0 GFEDCBA
50 Expenses 45 Total expenditure was $21.6 million under budget, due to savings A Employee 50040 in finance costs and management’s continual review of benefits 35 B Operating operating costs. 30 expense 400 Finance costs for PBC were favourable by $19 million, which was C Depreciation/ 25 amortisation a direct result of lower borrowings and greater than expected 30020 D Finance costs capitalised interest costs. 15
Depreciation and amortisation expenses were greater than budget Actual 20010 by $3.2 million, resulting from a greater than expected asset base 5 from the 2008/2009 asset revaluations. Budget 1000 A B C D
0 2005/06 2006/07 2007/08 2008/09 2009/10 400 Profitability 350 EBIT, at $321.6 million, exceeded budget of $176.6 million by 500 $145.0 million. EBITDA, at $354.1 million, exceeded the budget 300 of $206.0 million by $148.1 million. 250 400 EBIT exceeded budget by $145.0 million, mainly due to greater than 200 expected fair value gains on investment property, which accounted for $136.2 million. However, trade, rental, dredging and other 300150 revenue all surpassed budget by $33.9 million. These favourable Export full 100 variances were reduced by $27.8 million due to less than expected Actual 200 profit on the sale of assets. Savings in operating costsExport also empty 50 contributed $5.8 million towards a favourable EBIT variance. Budget Import full 1000 EBIT EBITDA Import empty 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400
300
Export full 200 Export empty
Import full 100
Import empty 0 2005/06 2006/07 2007/08 2008/09 2009/10 84 Port of Brisbane Corporation Limited Annual Report 2009/2010 Financial review
Financial performance 5-year analysis
Revenue 250 Rental revenue continues to rise in line with increases in property valuations and new leases. Trade revenue increased by $6.6 million 200 following recovery of the economy after the global financial crisis. Dredging and other services increased slightly in 2009/2010. 150
Revaluation gains and the transfer of BACH shares have been Other excluded from this graph. 100 Services
Rentals 50
Trade changes 0 2005/06 2006/07 2007/08 2008/09 2009/10
500 Expenses
Operating expenses decreased by $9.2 million or 23% on the 400 previous year, which was partly due to management’s cost saving measures. 300 Maintenance and repair expenses decreased by $6.1 million, mainly due to the postponement of the major refit of the 120 dredger Brisbane to September/October 2010. Services and 200 consultant expenses decreased by $2.8 million or 33%. 100 Other savings were realised in materials and services, 100 advertising and promotion, and utility charges, mainly due 80 to management’s ongoing review of operational costs. 0 60 Reductions were also realised due to the transfer of the Port Depreciation/ 2005/06 2006/07 2007/08 2008/09 2009/10 of Bundaberg to GPC in November 2009. amortisation 40 Employee benefits expense increased by 3%. Operating expenses 20 Depreciation and amortisation expense slightly increased by Employee $1 million or 3%. benefits 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400
300 EBIT 600 Allowing for the elimination of fair value gains on investment 200 property and the sale of our remaining shares in BACH in 500 2008/2009, EBIT increased by $20.9 million or 18%. 100 The steady improvement in rental revenue, trade revenue and 400 related services, in conjunction with operational cost savings, has boosted seaport EBIT over the past five years. 3000 2005/06 2006/07 2007/08 2008/09 2009/10 BACH 2009/2010 saw a $56.4 million decrease in fair value gains of 200 investment property compared to the previous year. Investment EBIT for 2007/2008 and 2008/2009 was affected by the sale property gains 100 of our shares in BACH. EBIT 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400
300
Export full 200 Export empty
Import full 100
Import empty 0 2005/06 2006/07 2007/08 2008/09 2009/10 Financial review Port of Brisbane Corporation Limited Annual Report 2009/2010 85
Borrowing costs 35 Interest expense after capitalisation of borrowing costs increased in 2009/2010 by $3.2 million or 14%, as a result of additional 30 borrowings and an increase in interest rates. 25 Seaport debt increased by $70 million, which reflects our continued commitment to the capital works program. 20
Borrowing costs of $25.7 million were capitalised to assets 15 constructed during the period. 10 Airport 5 Seaport 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400
300 NPAT Export full 500 200 NPAT decreased overall to $232.3 million. 450 Export empty Excluding the effects of the sale of shares in BACH and fair value 400 Import full 100 gains on investment property, NPAT increased by $53.5 million 350 from 2008/2009. Import empty 300 0 250 2005/06 2006/07 2007/08 2008/09 2009/10 BACH 200
Investment 150 property gains 100
NPAT 50 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400 Taxes and dividends After consultation with shareholding Ministers, the Board 300 recommended a dividend payout of 80% of realised after tax profits 500 for the current year. Export full 200450 We operate under a tax equivalents regime, and pay income Export empty and other taxes to the state on an equivalent basis to a private 400 company. Income tax expense resulting from the fair Importvalue gainsfull on 350100 BACH dividend investment properties are held in the Deferred Tax LiabilityImport account, empty 300 and will only be paid when the capital gains on the properties are Competitive 2500 realised. neutrality fee 2005/06 2006/07 2007/08 2008/09 2009/10 200 Total payments to the state will exceed $141.6 million for the Land tax 150 2009/2010 year. Income tax 100 A special dividend of $291.0 million relating to the transfer of BACH Dividend 50 shares was paid in November 2009. 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400
300
Export full 200 Export empty
Import full 100
Import empty 0 2005/06 2006/07 2007/08 2008/09 2009/10 86 Port of Brisbane Corporation Limited Annual Report 2009/2010 Financial review
Total assets Asset growth for the seaport has been significant over the past five years, increasing from $1.63 billion in 2004/2005 to $2.58 billion in 2009/2010. This year our consolidated assets decreased by $135.0 million from 2008/2009. This decrease was due to a transfer of $410.3 million of 3000 fixed assets to state government entities as part of the privatisation of the port. 2500 Revaluations increased the fair value of investment property, and property plant and equipment assets, by $186.2 million, while our 2000 2009/2010 capital program added $147.8 million to our asset base. 1500 Significant developments for the year included the continued development and construction of port infrastructure. This included 1000 land reclamation, property development and construction of additional berths and wharves, all required to keep pace with future 500 trade growth. Total assets ($M) 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400 Capital expenditure 200
We have maintained a significant capital expenditure program over 300175 recent years, to increase revenue and develop infrastructure for the long-term benefit of the port. 150 200 This year saw major expenditure on infrastructure projects including 125 the Captain Bishop Bridge, Wharves 11 and 12, Port West Estate, 100 100 and reclamation at Fisherman Islands. We also commissioned the General Purpose Berth and the new Port Office building. 75 0 Capital expenditure for 2009/2010 totalled $147.8 million. 50 2005/06 2006/07 2007/08 2008/09 2009/10 Capital 25 expenditure ($M) 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400 Interest-bearing liabilities 800
Borrowings remain at a sustainable level. 700 300 Borrowings increased by $70.0 million to $734.7 million due to 600 additional borrowings in seaport-related debt. 200500 Strong assets and earnings growth enables PBC to use borrowings to fund capital investments. 400 100 2009/2010 saw the transfer of the $29.6 million shareholding 300 Bundaberg Ministers loan to GPC. 2000 Airport 2005/06 2006/07 2007/08 2008/09 2009/10 100 Seaport 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400
300
200
100
0 2005/06 2006/07 2007/08 2008/09 2009/10 Financial review Port of Brisbane Corporation Limited Annual Report 2009/2010 87
Total shareholder equity Shareholder equity remains strong, at $1.3 billion. At corporatisation in 1994, shareholder equity was $339 million. Since then, the book value of shareholder equity has grown significantly through retained earnings and growth in asset values. This, in part, reflects the strategy of increasing asset utilisation and the growth in 1600 market value of the port precinct. 1400 This growth in equity has occurred even with significant distribution of dividends to shareholders throughout this time. 1200 Equity decreased in 2009/2010 by $162.9 million, due to a $302.8 million 1000 decrease in contributed equity and retained earnings as a direct result 800 of the transfer of assets to state government entities. Retained profits 600 Retained earnings increased by $188.9 million after a $60.7 million Asset revaluation dividend. 400 reserve Contributed equity decreased to $6.5 million as a direct result of the Contributed 200 transfer of Northshore Hamilton assets to the ULDA in April 2010. equity 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400 Return on assets (ROA) 25%
Return on assets reached 12.1% in 2009/2010 including fair value 300 gains on investment property. 20%
ROA has increased over the past few years due to strong growth 200 in EBIT, due largely to fair value gains in investment property. 15%
ROA before fair value gains in investment property increased 100 by 2.6% on 2008/2009, largely due to improved operational BACH 10% performance. Investment 0 5% property gains 2005/06 2006/07 2007/08 2008/09 2009/10 ROA – operations 0% 2005/06 2006/07 2007/08 2008/09 2009/10
500
400 Return on equity (ROE) 40 Return on equity for 2009/2010 reached 17.1%. 35 300 ROE has increased significantly over the past few years as a 30 result of strong growth in NPAT, due largely to fair value gains in investment property. 20025
ROE before fair value gains in investment property increased by 20 3.8% to 7.5%, due to improved operational performance and the 100 BACH 15 reduction of equity as a result of transfer of net assets to state Investment government entities. 100 property gains Fair value gains on investment properties accounted for 9.6% of 2005/06 2006/07 2007/08 2008/09 2009/10 5 the 2009/2010 ROE. ROE – operations 0 2005/06 2006/07 2007/08 2008/09 2009/10
500
400
300
200
100
0 2005/06 2006/07 2007/08 2008/09 2009/10 88 Port of Brisbane Corporation Limited Annual Report 2009/2010 Statement of comprehensive income
Statement of comprehensive income for the YEAR endED 30 June 2010
Consolidated Parent 2010 2009 2010 2009 Restated Restated Notes $’000 $’000 $’000 $’000 Revenues from continuing operations Trade revenues 3 91,163 84,539 90,968 84,000 Fair value gains on investment property 1 (xi),14 186,245 242,627 186,245 242,345 Gain on sale of inventory 1(ix), 4 32,785 2,685 32,785 2,685 Other 5 118,649 99,991 118,063 420,202 Operating revenues 428,842 429,842 428,061 749,232
Net gains/(loss) on disposal of non-current assets 6 (8,513) 230,736 (8,525) 16,351 Total Revenue 420,329 660,578 419,536 765,583
Expenses from continuing operations Employee benefits expense 1(xv) 35,141 34,266 34,762 33,175 Operations expense 1(iv), 7 31,066 40,270 30,388 39,032 Depreciation, amortisation and impairment expenses 1(v),1(vi),1(xiii),14,15,16 32,502 31,525 32,288 29,729 Finance costs 1(vii), 8 26,596 23,390 26,596 23,390 Total expenses from continuing operations 125,305 129,451 124,034 125,326
Profit for the year before income tax expense 295,024 531,127 295,502 640,257 Income tax expense 1(viii),1(xviii), 9 62,724 86,898 63,139 86,915 Profit for the year after income tax 232,300 444,229 232,363 553,342
Profit for the year attributable to: - Members of PBC 232,300 444,229 232,363 553,342 - Non-controlling interest – – – – 232,300 444,229 232,363 553,342
Other comprehensive income Increase/(decrease) in asset revaluation surplus 26 (4,298) 426,933 (4,298) 425,777 Income tax relating to components of other comprehensive income 26 1,289 (128,079) 1,289 (127,733) Total comprehensive income for the year 229,291 743,083 229,354 851,386
Total comprehensive income for the year attributable to: - Members of PBC 229,291 743,083 229,354 851,386 - Non-controlling interest – – – – 229,291 743,083 229,354 851,386
See Note 1 (xxii) for details regarding restatement. The above statement of comprehensive income should be read in conjunction with the accompanying notes (on CD). Statement of financial position Port of Brisbane Corporation Limited Annual Report 2009/2010 89
Statement of financial position AS AT 30 June 2010
CONSOLIDATED PARENT 2010 2009 1 July 2008* 2010 2009 July 2008* Restated Restated Restated Restated Notes $’000 $’000 $’000 $’000 $’000 $’000 Current assets Cash and cash equivalents 29 (b) 15,989 16,245 10,772 15,989 15,635 10,428 Trade and other receivables 10 (a) 36,579 29,535 72,117 36,579 29,325 71,705 Inventories 11 4,942 96,088 52,115 4,942 96,088 52,115 Current tax assets 9 – – 10,548 – – 10,548 Other 12 5,693 5,552 5,571 5,693 5,496 5,496 63,203 147,420 151,123 63,203 146,544 150,292
Available-for-sale financial assets – – 246,000 – – – Total current assets 63,203 147,420 397,123 63,203 146,544 150,292
Non-current assets Trade and other receivables 10 (b) 2,699 20,441 – 2,699 20,441 – Financial assets – – – – – 1 Investment property 14 1,266,863 1,253,003 818,927 1,266,863 1,243,132 809,574 Property, plant and equipment 15 1,239,195 1,286,718 1,007,691 1,239,195 1,263,595 986,927 Intangibles 16 3,540 3,584 2,133 3,540 3,341 1,945 Deferred tax assets 17 4,811 4,119 5,182 4,811 4,089 5,178 Total non-current assets 2,517,108 2,567,865 1,833,933 2,517,108 2,534,598 1,803,625 Total assets 2,580,311 2,715,285 2,231,056 2,580,311 2,681,142 1,953,917
Current liabilities Trade and other payables 19 77,115 73,944 105,076 77,115 73,880 104,836 Current tax liabilities 20 26,216 815 – 26,216 501 – Other 21 8,403 12,967 669 8,403 12,854 669 Total current liabilities 111,734 87,726 105,745 111,734 87,235 105,505
Non-current liabilities Financial liabilities 22 734,671 694,288 624,288 734,671 663,990 628,175 Deferred tax liabilities 23 452,059 487,211 335,594 452,059 484,120 286,200 Other 21 – 895 – – – – Provisions 24 5,967 6,398 6,464 5,967 6,398 6,464 Total non-current liabilities 1,192,697 1,188,792 966,346 1,192,697 1,154,508 920,839 Total liabilities 1,304,431 1,276,518 1,072,091 1,304,431 1,241,743 1,026,344
Net assets 1,275,880 1,438,767 1,158,965 1,275,880 1,439,399 927,573
Equity Contributed equity 25 6,500 324,290 324,290 6,500 324,290 324,290 Asset revaluation surplus 26(a) 460,442 494,449 319,811 460,442 493,639 195,595 Retained profits 26(b) 808,938 620,028 514,864 808,938 621,470 407,688 Total equity 1,275,880 1,438,767 1,158,965 1,275,880 1,439,399 927,573
* See Note 1 (xxii) for details regarding restatement. The above statement of financial position should be read in conjunction with the accompanying notes (on CD).
90 Port of Brisbane Corporation Limited Annual Report 2009/2010 GRI content index
Legend GRI content index C Conformance PC Partial conformance Not reported Not reported Not material Not material EC4 Core indicator EC5 Additional indicator
Profile disclosure and description Status Page Comments
1. Strategy and analysis 1.1 Statement from the most senior decision-maker of the organisation. C 12
1.2 Description of key impacts, risks, and opportunities. PC 6, 73 2. Organisational Profile 2.1 Name of the organisation. C FC
2.2 Primary brands, products, and/or services. C 4, 5
2.3 Operational structure of the organisation, including main divisions, operating companies, C 4, 5 subsidiaries, and joint ventures.
2.4 Location of organisation's headquarters. C 102
2.5 Number of countries where the organisation operates, and names of countries with either C 4, 5 major operations or that are specifically relevant to the sustainability issues covered in the report.
2.6 Nature of ownership and legal form. C 4
2.7 Markets served (including geographic breakdown, sectors served, and types of C 12, 24-25 customers/beneficiaries).
2.8 Scale of the reporting organisation, including: number of employees; net sales; total C 24-25, capitalisation broken down in terms of debt and equity; and quantity of products or 78-81 services provided.
2.9 Significant changes during the reporting period regarding size, structure, or ownership C 4, 9, 12 including: number of employees; net sales; total capitalisation broken down in terms or debt equity; and quantity of products and services provided.
2.10 Awards received in the reporting period. C 15, 28 3. Report Parameters 3.1 Reporting period (e.g., fiscal/calendar year) for information provided. C IFC
3.2 Date of most recent previous report (if any). C IFC
3.3 Reporting cycle (annual, biennial, etc.) C IFC
3.4 Contact point for questions regarding the report or its contents. C IFC
3.5 Process for defining report content. C IFC
3.6 Boundary of the report (e.g., countries, divisions, subsidiaries, leased facilities, C 4, 5 joint ventures, suppliers).
3.7 State any specific limitations on the scope or boundary of the report (see completeness C 4, 5 principle for explanation of scope).
3.8 Basis for reporting on joint ventures, subsidiaries, leased facilities, outsourced operations, C 4 and other entities that can significantly affect comparability from period to period and/or between organisations.
3.9 Data measurement techniques and the bases of calculations, including assumptions and C IFC, 61, techniques underlying estimations applied to the compilation of the Indicators and other throughout information in the report. Explain any decisions not to apply, or to substantially diverge from, report the GRI Indicator Protocols.
3.10 Explanation of the effect of any re-statements of information provided in earlier reports, and C 88, 89 See attached CD. the reasons for such re-statement (e.g., mergers/acquisitions, change of base years/periods, nature of business, measurement methods).
3.11 Significant changes from previous reporting periods in the scope, boundary, or measurement Not material Significant changes methods applied in the report. in calculation methodologies are not required.
3.12 Table identifying the location of the Standard Disclosures in the report. C 90
3.13 Policy and current practice with regard to seeking external assurance for the report. C IFC GRI content index Port of Brisbane Corporation Limited Annual Report 2009/2010 91
Legend
Profile disclosure and description Status Page Comments
4. Governance, Commitments, and Engagement 4.1 Governance structure of the organisation, including committees under the highest governance C 2, 8-9, body responsible for specific tasks, such as setting strategy or organisational oversight. 10-11, 68
4.2 Indicate whether the Chair of the highest governance body is also an executive officer. C 8
4.3 For organisations that have a unitary board structure, state the number of members of the C 8 highest governance body that are independent and/or non-executive members.
4.4 Mechanisms for shareholders and employees to provide recommendations or direction to the C 73 highest governance body.
4.5 Linkage between compensation for members of the highest governance body, senior C 69, 71, 75 managers, and executives (including departure arrangements), and the organisation's performance (including social and environmental performance).
4.6 Processes in place for the highest governance body to ensure conflicts of interest are avoided. C 71
4.7 Process for determining the qualifications and expertise of the members of the highest C 8-9, 68 governance body for guiding the organisation's strategy on economic, environmental, and social topics.
4.8 Internally developed statements of mission or values, codes of conduct, and principles C IFC, 42, relevant to economic, environmental, and social performance and the status of their 68, 71 implementation.
4.9 Procedures of the highest governance body for overseeing the organisation's identification and C 6, 73 management of economic, environmental, and social performance, including relevant risks and opportunities, and adherence or compliance with internationally agreed standards, codes of conduct, and principles.
4.10 Processes for evaluating the highest governance body's own performance, particularly with C 69, 71, 75 respect to economic, environmental, and social performance.
4.11 Explanation of whether and how the precautionary approach or principle is addressed by the C 54 organisation.
4.12 Externally developed economic, environmental, and social charters, principles, or other C IFC initiatives to which the organisation subscribes or endorses.
4.13 Memberships in associations (such as industry associations) and/or national/international C 8-9, 10-11 advocacy organisations in which the organisation: * Has positions in governance bodies; * Participates in projects or committees; * Provides substantive funding beyond routine membership dues; or * Views membership as strategic.
4.14 List of stakeholder groups engaged by the organisation. C 6, 45
4.15 Basis for identification and selection of stakeholders with whom to engage. C IFC
4.16 Approaches to stakeholder engagement, including frequency of engagement by type and by C 45 stakeholder group.
4.17 Key topics and concerns that have been raised through stakeholder engagement, and how the C 45 organisation has responded to those key topics and concerns, including through its reporting. Disclosures on Management Approach (DMAs) DMA EC Disclosure on Management Approach (Economic) C 16-20, 68-77, 78-81
DMA EN Disclosure on Management Approach (Environment) C 18, 50-66
DMA HR Disclosure on Management Approach (Human Rights) PC 42
DMA LA Disclosure on Management Approach (Labour) PC 19, 38-44
DMA SO Disclosure on Management Approach (Social) PC 45-47
DMA PR Disclosure on Management Approach (Product Responsibility) Not material Disclosures on management approach to product responsibility is not considered material for PBC due to the nature of our operations. 92 Port of Brisbane Corporation Limited Annual Report 2009/2010 GRI content index
Performance Indicators Status Page Comments
Economic Performance Indicators EC1 Direct economic value generated and distributed, including revenues, operating costs, C 1, 12, 46, employee compensation, donations and other community investments, retained earnings, 48, 78-87 and payments to capital providers and governments.
EC2 Financial implications and other risks and opportunities for the organisation's activities due to PC 54 climate change.
EC3 Coverage of the organisation's defined benefit plan obligations. C 43
EC4 Significant financial assistance received from government. Not reported
EC5 Range of ratios of standard entry level wage compared to local minimum wage at significant Not reported locations of operation.
EC6 Policy, practices, and proportion of spending on locally-based suppliers at significant locations PC 80-81 of operation.
EC7 Procedures for local hiring and proportion of senior management hired from the local Not reported community at significant locations of operation.
EC8 Development and impact of infrastructure investments and services provided primarily for PC 26-33 public benefit through commercial, in-kind, or pro bono engagement.
EC9 Understanding and describing significant indirect economic impacts, including the extent of Not reported impacts. Environmental Performance Indicators EN1 Materials used by weight or volume. PC 60-62
EN2 Percentage of materials used that are recycled input materials. Not reported
EN3 Direct energy consumption by primary energy source. C 60-61
EN4 Indirect energy consumption by primary source. C 60-61
EN5 Energy saved due to conservation and efficiency improvements. PC 60-61
EN6 Initiatives to provide energy-efficient or renewable energy based products and services, PC 60-61 and reductions in energy requirements as a result of these initiatives.
EN7 Initiatives to reduce indirect energy consumption and reductions achieved. PC 60-61
EN8 Total water withdrawal by source. PC 62, 66
EN9 Water sources significantly affected by withdrawal of water. Not reported
EN10 Percentage and total volume of water recycled and reused. Not reported
EN11 Location and size of land owned, leased, managed in, or adjacent to, protected areas Not reported and areas of high biodiversity value outside protected areas.
EN12 Description of significant impacts of activities, products, and services on biodiversity in C 50 protected areas and areas of high biodiversity value outside protected areas.
EN13 Habitats protected or restored. PC 62-63
EN14 Strategies, current actions, and future plans for managing impacts on biodiversity. PC 62-63
EN15 Number of IUCN Red List species and national conservation list species with habitats in areas Not reported affected by operations, by level of extinction risk.
EN16 Total direct and indirect greenhouse gas emissions by weight. C 60-61, 66
EN17 Other relevant indirect greenhouse gas emissions by weight. C 60-61
EN18 Initiatives to reduce greenhouse gas emissions and reductions achieved. PC 62-66
EN19 Emissions of ozone-depleting substances by weight. Not reported
EN20 NOx, SOx, and other significant air emissions by type and weight. Not reported
EN21 Total water discharge by quality and destination. PC 62
EN22 Total weight of waste by type and disposal method. PC 62
EN23 Total number and volume of significant spills. C 65 GRI content index Port of Brisbane Corporation Limited Annual Report 2009/2010 93
Performance Indicators Status Page Comments
EN24 Weight of transported, imported, exported, or treated waste deemed hazardous under the Not reported terms of the Basel Convention Annex I, II, III, and VIII, and percentage of transported waste shipped internationally.
EN25 Identity, size, protected status, and biodiversity value of water bodies and related habitats Not reported significantly affected by the reporting organization's discharges of water and runoff.
EN26 Initiatives to mitigate environmental impacts of products and services, and extent of Not reported impact mitigation.
EN27 Percentage of products sold and their packaging materials that are reclaimed by category. Not material Product packaging is not considered material to PBC due to the nature of our operations.
EN28 Monetary value of significant fines and total number of non-monetary sanctions for non- C 65 compliance with environmental laws and regulations.
EN29 Significant environmental impacts of transporting products and other goods and materials Not reported used for the organisation's operations, and transporting members of the workforce.
EN30 Total environmental protection expenditures and investments by type. Not reported Social Performance Indicators: Labour Practices and Decent Work LA1 Total workforce by employment type, employment contract, and region. C 38-40, 48
LA2 Total number and rate of employee turnover by age group, gender, and region. PC 39, 48
LA3 Benefits provided to full-time employees that are not provided to temporary or part-time PC 43 employees, by major operations.
LA4 Percentage of employees covered by collective bargaining agreements. C 6, 43
LA5 Minimum notice period(s) regarding significant operational changes, including whether it is Not reported specified in collective agreements.
LA6 Percentage of total workforce represented in formal joint management-worker health and C 41, 48 safety committees that help monitor and advise on occupational health and safety programs.
LA7 Rates of injury, occupational diseases, lost days, and absenteeism, and number of work- PC 40, 41, 48 related fatalities by region.
LA8 Education, training, counselling, prevention, and risk-control programs in place to assist C 41 workforce members, their families, or community members regarding serious diseases.
LA9 Health and safety topics covered in formal agreements with trade unions. Not reported
LA10 Average hours of training per year per employee by employee category. PC 42, 48
LA11 Programs for skills management and lifelong learning that support the continued employability Not reported of employees and assist them in managing career endings.
LA12 Percentage of employees receiving regular performance and career development reviews. C 42, 48
LA13 Composition of governance bodies and breakdown of employees per category according to C 40, 48 gender, age group, minority group membership, and other indicators of diversity.
LA14 Ratio of basic salary of men to women by employee category. Not reported 94 Port of Brisbane Corporation Limited Annual Report 2009/2010 GRI content index
Performance Indicators Status Page Comments
Social Performance Indicators: Human Rights HR1 Percentage and total number of significant investment agreements that include human rights Not reported clauses or that have undergone human rights screening.
HR2 Percentage of significant suppliers and contractors that have undergone screening on human Not reported rights and actions taken.
HR3 Total hours of employee training on policies and procedures concerning aspects of human Not reported rights that are relevant to operations, including the percentage of employees trained.
HR4 Total number of incidents of discrimination and actions taken. C 42, 48
HR5 Operations identified in which the right to exercise freedom of association and collective Not reported bargaining may be at significant risk, and actions taken to support these rights.
HR6 Operations identified as having significant risk for incidents of child labour, and measures taken Not reported to contribute to the elimination of child labour.
HR7 Operations identified as having significant risk for incidents of forced or compulsory labour, Not reported and measures to contribute to the elimination of forced or compulsory labour.
HR8 Percentage of security personnel trained in the organisation's policies or procedures Not reported concerning aspects of human rights that are relevant to operations.
HR9 Total number of incidents of violations involving rights of indigenous people and actions taken. Not reported Social Performance Indicators: Society SO1 Nature, scope, and effectiveness of any programs and practices that assess and manage the C 45-48 impacts of operations on communities, including entering, operating, and exiting.
SO2 Percentage and total number of business units analysed for risks related to corruption. Not reported
SO3 Percentage of employees trained in organisation's anti-corruption policies and procedures. Not reported
SO4 Actions taken in response to incidents of corruption. Not reported
SO5 Public policy positions and participation in public policy development and lobbying. Not reported
SO6 Total value of financial and in-kind contributions to political parties, politicians, and related Not reported institutions by country.
SO7 Total number of legal actions for anti-competitive behaviour, anti-trust, and monopoly practices Not reported and their outcomes.
SO8 Monetary value of significant fines and total number of non-monetary sanctions for non- Not reported compliance with laws and regulations. Social Performance Indicators: Product Responsibility PR1 Life cycle stages in which health and safety impacts of products and services are assessed Not material Product for improvement, and percentage of significant products and services categories subject to responsibility such procedures. indicators are not considered material to PBC due to the nature of our operations.
PR2 Total number of incidents of non-compliance with regulations and voluntary codes concerning Not material health and safety impacts of products and services during their life cycle, by type of outcomes.
PR3 Type of product and service information required by procedures, and percentage of significant Not material products and services subject to such information requirements.
PR4 Total number of incidents of non-compliance with regulations and voluntary codes concerning Not material product and service information and labelling, by type of outcomes.
PR5 Practices related to customer satisfaction, including results of surveys measuring Not material customer satisfaction.
PR6 Programs for adherence to laws, standards, and voluntary codes related to marketing Not material communications, including advertising, promotion, and sponsorship.
PR7 Total number of incidents of non-compliance with regulations and voluntary codes Not material concerning marketing communications, including advertising, promotion, and sponsorship by type of outcomes.
PR8 Total number of substantiated complaints regarding breaches of customer privacy and losses Not material of customer data.
PR9 Monetary value of significant fines for non-compliance with laws and regulations concerning Not material the provision and use of products and services. Independent Verification Statement Port of Brisbane Corporation Limited Annual Report 2009/2010 95
Independent Verification Statement
To the Board of Directors, the Executive Team, and Stakeholders of the Port of Brisbane Corporation: The Port of Brisbane Corporation Limited (PBC) commissioned Net Balance Management Group Pty Ltd (Net Balance) to undertake a review of their 2009-2010 Annual Report (‘the Report’). This review comprised two components: • A third party application level check against the requirements of the Global Reporting Initiative (GRI) G3 Guidelines. • Verification of the greenhouse gas (GHG) and energy data reported in the 2009-2010 Annual Report. PBC was responsible for the preparation of the Report and this statement represents the verification provider’s independent opinion. Net Balance’s responsibility in performing this review is to the Board and Executive Team of PBC alone and in accordance with the terms of reference agreed with them. Other stakeholders should perform their own due diligence before taking any action as a result of this statement.
Objectives The objectives of the review were to confirm the Report’s GRI application level and to provide an opinion on the accuracy of the GHG and energy data presented within the Report.
Methodology GRI application level check: Adherence of the Report’s content to the GRI Standard Disclosures (Profile Disclosures, Management Approach and Performance Indicators) was examined during the application level check. For each standard disclosure, PBC’s adherence to the GRI requirements was classified as compliant, partially compliant, not material or not reported. This classification was then used to provide an opinion on the GRI application level most appropriate to the Report. GHG and energy data verification: The PBC Carbon Management System (CMS) was tested during the verification process. This included the replication of system downloads and the review of corporate level data for completeness. Electricity data could not be directly verified within the CMS due to an accruals issue. This data was instead verified in a separate spreadsheet downloaded from the CMS provided by PBC. Emissions factors and methodologies used to calculate GHG emissions were tested against the National Greenhouse and Energy Reporting (NGER) Determination (2008). It should be noted that contractor, third party or source data was not reviewed during the verification process. The information contained in the CMS and relevant downloads were then verified against the GHG and energy data presented within the Report.
Our Opinion Net Balance found that PBC’s 2009-2010 Annual Report satisfied a GRI B application level. PBC is encouraged to continue to build upon its reporting achievements to date and to improve adherence to the GRI over time. Net Balance is satisfied that the GHG and energy data presented in the 2009-2010 Annual Report is a fair and accurate representation of the organisation’s performance during the period. Any errors identified during the verification process were corrected prior to the Annual Report being published. To encourage continuous improvement in reporting, detailed results and recommendations have been provided to PBC’s management in a separate report.
On behalf of the Net Balance team 20 August 2010 Melbourne, Australia
Terence Jeyaretnam Director, Net Balance & Lead CSAP (IRCA UK) 96 Port of Brisbane Corporation Limited Annual Report 2009/2010 Index
FC Front cover Index IFC Inside front cover IBC Inside back cover
A E L About this report IFC E-Teams 47 Land Use Plan 25, 30, 36, 50, 75 Air emissions 59 Earnings before interest and tax (EBIT) 1, 78, Landside Logistics Forum 32 Amity 55, 60, 61, 64 81, 82, 83, 84, 87, Learning and development 19, 42, 48 AS/NZS:4360 – 2004 73 Economic and financial performance78 Liabilities 73, 78, 80, 86 Assets 1, 3, 4, 5, 12, 15, 17, 29, 31, 60, 73, 79, Electricity use 18, 54, 60, 66 Lost Time Injuries (LTIs) 1, 14, 19, 39, 40, 41, 48 80, 81, 82, 83, 85, 86, 87 Employee benefits43, 78, 84 M Audit and Risk Committee 2, 8, 9, 70, 71, Employee communication 40 Mangrove 14, 46, 63 72, 74, 76 Employee numbers 14 Manly Boat Harbour 6, 30, 46, 59, 64 Australia TradeCoast 8, 10, 28 Employment conditions 43 Maritime security 10, 32, 72 B Environmental complaints 64, 65, 66 Materiality IFC, 70 Balance sheet 78, 80, 81 Environmental incidents 18, 64, 65, 74 Mission IFC Berths 11 and 12 1, 13, 27, 28, 36 Environmental management system 18, 51, 74 Moreton Bay Marine Park 7, 50 Board of Directors 2, 8 Ethical standards 71 Motor vehicle 12, 16, 18, 22, 23, 26, 27, 34, 36 Brisbane 5, 6, 29, 41, 54, 55, 56, 60, 61, 65, 66, 84 Executive Team IFC, 2, 6, 10, 11, 15, 68, 75 Multi-user Terminal 16, 26, 27, 60 Brisbane Airport Corporation Holdings (BACH) Expenses 1, 83, 84 12, 80, 84, 85 F N Brisbane City Council (BCC) 6, 17, 25, 29 Net profit after tax (NPAT)78, 80, 81, 82, 85 Financial review 82 Brisbane Multimodal Terminal (BMT) 4, 5, 6, 10, New Port Office1, 13, 15, 17, 27, 28, 32, 36, 50, Fisherman Islands 18, 26, 27, 28, 32, 33, 36, 46, 23, 25, 33, 36, 44, 54, 60, 61, 62, 80, 83 59, 64, 81, 86 50, 55, 56, 57, 60, 63, 64, 86 Built environment 50, 51 Northshore Hamilton 3, 11, 12, 14, 29, 36, 39, 73, Flora and fauna 15, 32, 46, 53 Business risks 6 80, 87 Future Port Expansion (FPE) 27, 28, 53, 55, C 60, 65, 75 O Capital expenditure 20, 68, 78, 81, 86 G Oil spills 65 Organisational structure 2 Captain Bishop Bridge 1, 10, 13, 27, 31, 36, 86 General Purpose Berth/facility/wharf 14, 18, 27, Chairman 2, 8, 9, 10, 11, 12, 13, 15, 41, 69, 70, 71, 33, 50, 81, 86 Our boundaries 4 72, 73, 74, 75 Global Reporting Initiative (GRI) IFC, 90, 95 Our community 7 Chief Executive Officer 3, 10, 13, 15, 38, 44, 54, Government Owned Corporations Act 1993 Our environment 7, 49 69, 70, 73, 75 (GOC Act) 4, 8, 10, 68, 72 Our organisation 2 City Reach 3, 12, 17, 29, 36, 50, 80 Greenhouse gas emissions 14, 18, 54, 60, 61 Our stakeholders 6, 15, 45, 47, 54 Climate Change Commitment 1, 14, 54, 60 Greenhouse gas offsets 61 P Climate Survey 19, 38, 75 Green Star 32, 50, 59 Patrick 14, 33 Colmslie 4, 7, 17, 27, 32, 64, 79, 80 Groundwater 61, 63, 66 Community complaints 47, 48 People and Culture Committee 2, 8, 9, 41, H 44, 70, 75 Community support 46, 48 Hamilton 3, 4, 7, 26, 46, 55, 79 Performance evaluation 69, 71 Container trade 1, 12, 16, 22 Health and Safety Committee 40, 41, 48 Planning, Construction and Environment Corporate governance IFC, 3, 9, 11, 68, 69, 73 Committee 2, 8, 9, 54, 70, 74, 76 Heavy Transit Corridor 36 Corporate Plan IFC, 6, 45, 68, 71, 73, 81 Portcareers 46 Highlights 1 Port Central 13, 32, 36, 46, 50, 59 D Hospitality venues 10, 11, 46, 60, 61, 80, 81 Port Gate 62, 63 Debt/equity ratio 81 Hutchison Port Holdings (HPH) 13, 27, 28, 36 Department of Environment and Resource Port North 4, 11, 16, 25, 36 Management (DERM) 3, 6, 56, 57, 65 I Port of Brisbane Motorway 17, 26, 28, 31, 36 Department of Infrastructure and Planning 6 Integrated Management System (IMS) Port of Bundaberg 3, 4, 9, 11, 12, 14, 17, 30, 36, Department of Transport and Main Roads 44, 65, 74 39, 61, 71, 73, 80, 84 (DTMR) 3, 6, 26, 29, 31, 33 ISO 9001 74 Port tours 7, 43, 45, 46 Diversity 19, 42, 45, 50 ISO 14001 18, 66 Port West 4, 11, 16, 17, 26, 29, 36, 86 Dividends 78, 80, 85, 87 J Precincts 5, 50, 79 DP World 14, 33 Jetty Kiosk 6, 46 Pricing 11, 20 Dredged material management 56 Privatisation IFC, 1, 3, 10, 11, 14, 15, 38, 42, 45, Dredging 3, 5, 10, 28, 29, 31, 50, 55, 56, 57, 60, 61, K 70, 72, 73, 74, 75, 86 65, 79, 83, 84 Key Environmental Performance Indicators 66 Privatisation Process Committee 2, 8, 9, 70, 76 Due diligence 11, 18, 54, 70, 73 Key Performance Indicators (KPIs) 11, 34, 69, 82 Productivity 1, 6, 18, 32, 33, 34, 81 Key Social Performance Indicators 48 Profitability83 Index Port of Brisbane Corporation Limited Annual Report 2009/2010 97
Q Table, graph and diagram index Queensland Government IFC, 3, 4, 9, 12, 15, 17, 28, 29, 30, 43, 50, 61, 79, 80, 81 Age profile – all employees (graph)38 Net crane rate (graph) 35 R Areas where sediment sampling occurred No. of employees at work sites 40 (diagram) 57 Reclamation 3, 6, 10, 55, 56, 60, 62, 64, 86 No. of tours by category (graph) 46 Average container exchange per vessel Remuneration 75 NPAT (graph) 85 (graph) 34 Renewing Queensland Plan IFC, 1, 3, 4, 17, Our Stakeholders (table) 6 Berth utilisation (graph) 34 25, 29, 30, 79, 80, 81 Performance against SCI – financial BMT total trade (graph) 25 Revenue 1, 12, 16, 22, 36, 70, 72, 78, 79, 80, 83, (table) 82 84, 86 Borrowing costs (graph) 85 Performance targets for 2010/2011 – financial Risk management 3, 11, 68, 72, 73, 74, 76 Capital expenditure (graph) 86 (table) 81 Captain Bishop Bridge key project timings Port of Brisbane electricity use (graph) 60 S (table) 31 Port of Brisbane – greenhouse gas emissions Scarborough Boat Harbour 31 Class A variations (table) 41 and energy use (table) 61 Seagrass monitoring 63 Community complaints (table) 47 Port precincts (diagram) 5 Seawall habitat 53 Contaminant concentrations (table) 56 Port West road access (diagram) 29 Security 5, 10, 32, 36, 47, 80, 83 Corporate Entertainment and Hospitality Profitability (graph)83 Shareholding Ministers 2, 4, 6, 8, 15, 30, 45, expenses (table) 76 Return on assets (graph) 87 68, 69, 72, 73, 75, 85, 86 Crane intensity (graph) 35 Return on equity (graph) 87 Ship visits 23, 25 Destination of waste (graph) 62 Revenue (graph) 83, 84 Spitfire Channel 56 Directors’ Attendance at Board and Committee Revenue composition (table) 78 Statement of comprehensive income IFC, 88 Meetings (table) 76 Ship arrivals (graph) 34 Statement of Corporate Intent (SCI) IFC, 6, 8, EBIT (graph) 84 Ship visits 2009/20010 (graph) 25 45, 68, 71, 73, 82 Employee length of service (graph) 38 Stakeholder engagement activities Statement of financial position IFC, 89 Environmental complaints (table) 64 (table) 45 Stevedores 6, 14 , 33, 35, 45 Environmental incidents (table) 64 Summary of greenhouse gas offsets (table) 61 Stormwater 46, 53, 55, 61, 62, 66 Expenses (graph) 83, 84 Taxes and dividends (graphs) 85 Sustainable planning 5 Exports by commodity (table) 24 Teus per container (graph) 35 Sustainable procurement 18 Financial trend analysis to 30 June 2010 Teus per quayline metre (graph) 34 (table) 78 T Top regions – exports (table) 24 Five-year revenue (graph) 12 Tenants 13, 14, 18, 25, 26, 32, 36, 50, 51, 61, 62, 65 Top regions – imports (table) 24 Five-year trade performance (graph) 12 Total trade 12, 16, 22, 24, 25 Total assets (graph) 86 Imports by commodity (table) 24 Total container trade (graph) 22 U Interest-bearing liabilities (graph) 86 Total shareholder equity (graph) 87 Urban Land Development Authority (ULDA) Key Corporate Strategies (tables) 16-20 Total trade (graph) 22 3, 29, 87 Key environmental performance indicators and Women in management (table) 40 V targets (table) 66 Key social performance indicators and targets Women in the workforce (table) 40 Values IFC, 6, 14 (table) 48 Workplace profile (table)40 Variations 40, 41, 65, 66 Lost Time Injury Frequency Rate (graph) 40 Yard utilisation (graph) 35 Vision IFC Major infrastructure projects (table) 27 Visitors Centre 6, 7, 10, 11, 44, 46, 45, 47, 54, Motor vehicle trade (graph) 27 60, 62 W Waste 54, 59, 61, 62, 66 Water quality monitoring 62, 63 Waterside Logistics Forum 32 Water use 59, 61, 62, 66 What we do 5 Where we are 4 Who we are 4 XYZ 98 Port of Brisbane Corporation Limited Annual Report 2009/2010 Glossary
Glossary
AQIS (Australian Quarantine and Inspection Cutter suction dredger: A cutter suction Green Star: The Green Building Council Services): AQIS plays an important role at the dredger is a stationary dredger that uses of Australia launched the Green Star port, making sure that arriving ships, and the a cutter head to loosen the material to be environmental rating system for buildings in imported goods that they are carrying, don’t dredged. The material is then pumped through 2003. Green Star rating tools help the property bring exotic pests and diseases into Australia. a pipeline, ashore or onto barges. industry to reduce the environmental impact AS4360: This is the Australian Standard for Department of Environment and Resource of buildings, improve occupant health and Risk Management. Management (DERM): The Department of productivity, and achieve real cost savings, Environment and Resource Management while showcasing innovation in sustainable AS4801: This is the Australian Standard for building practices. Occupational Health and Safety Management is a department of the Queensland Systems. Government that conserves and manages Integrated Management System (IMS): Our our natural environment for the benefit of IMS is a management tool that measures our Berth: A berth is a place alongside a wharf all Queenslanders. It aims to deliver long- performance in controlling loss. The system where a ship loads or discharges cargo. term sustainability for the state’s natural incorporates workplace health and safety, BMT (Brisbane Multimodal Terminal): PBPL environment. Its key areas of responsibility internal processes, and the management of operates the BMT, which is the rail interface include water, climate change, managing land our environment. The IMS is audited under the with the container terminals. The BMT handles and vegetation, and environmental services. International Organisation for Standardisation the rail transport of imported and exported Dredging: Dredging involves the removal standards ISO 9001:2000 and ISO 14001, as containers through the port. of material from the bottom of waterways, well as the Australian Standard AS 4801. The Brisbane: The Brisbane is PBPL’s trailing channels and berths, and is required at many ISO 14001: This is the international standard suction hopper dredger, commissioned in ports to maintain depths for safe vessel for environmental management systems. 2001. The dredger is equipped with state-of- navigation. ISO 9001: This is the international standard for the-art automation control and navigational Equal Employment Opportunity (EEO): quality management systems. systems. Environmentally, the vessel features It is the policy of PBPL to promote Equal a low-turbidity hopper-loading system, and Land Use Plan: The Land Use Plan identifies Employment Opportunity for all Aboriginal appropriate land uses in various precincts and under-keel discharge of overflow waters and Torres Strait Islander people, people from through an anti-turbidity valve. defines the economically, environmentally non-english speaking backgrounds, people and socially acceptable outcomes for future Brisbane City Council (BCC): The Brisbane with disabilities, women, and older workers development on port land. City Council is Australia’s largest local (45 years and above). Lowest Astronomical Tide (LAT): LAT is the government authority, and is responsible Environmental Management System for council issues in our local community. lowest tide level that can be predicted to occur (EMS): The EMS is part of our Integrated under average meteorological conditions, We liaise with Council on a number of Management System. It addresses issues, including planning, environmental and under any combination of astronomical environmental risks and prioritises the conditions. management, and the Brisbane River. actions necessary to achieve best-practice Bulk carrier: A bulk carrier is a single- environmental management. Lost Time Injuries (LTIs): Instances in which permanent staff suffered a physical injury as deck ship designed to carry homogeneous Fisherman Islands: Fisherman Islands is unpacked dry cargoes, such as grain, coal a result of a safety incident, which resulted in the locality name for the Port of Brisbane’s those staff members taking time off work. or sugar. main operational complex at the mouth of the Carbon dioxide equivalent (CO ): Different Brisbane River. Lost Time Injury Frequency Rate (LTIFR): 2-e LTIFR is calculated by multiplying the number greenhouse gases have different levels of Future Port Expansion (FPE): The FPE is a impact on global warming. Emissions of of lost time injuries by one million, divided by 230ha expansion area at the Port of Brisbane, the number of hours worked. greenhouse gases are often measured in at the mouth of the Brisbane River, which CO2 equivalents. A tonne of each individual is progressively being reclaimed as the port Maritime Safety Queensland (MSQ): MSQ greenhouse gas is adjusted to be expressed continues to expand. is a government agency attached to the in terms of how many tonnes of CO2 would be Department of Transport and Main Roads. It is needed to produce the same global warming Freight forwarder: A freight forwarder is a responsible for improving maritime safety for impact over 100 years. person, or company, that arranges the carriage shipping and small craft; minimising vessel- of goods and the associated formalities, on Chain of Responsibility (CoR): The CoR sourced waste and responding to marine behalf of a shipper. The duties of a freight pollution; providing maritime services, such means that anybody (not just the driver) who forwarder include booking space on a ship, has control in a transport operation can be held as port pilots and aids to navigation; and providing all the necessary documentation, encouraging and supporting innovation in the responsible for breaches of road laws, and and arranging Customs clearance. may be made legally liable. maritime industry. Global Reporting Initiative (GRI): The GRI is Consolidation: Consolidation refers to Materiality: Materiality is a concept that looks an international framework for leading practice at determining and reporting on those issues the process of squeezing out water in the and knowledge in sustainability reporting soft clays and dredged muds (usually by that stakeholders see as important, or of and transparency. The G3 Guidelines are concern, in relation to a company’s operations. surcharging), to strengthen the reclaimed land the framework within which this report area, and bring it to a standard appropriate has been prepared. Micrometre or micron (μm): A micrometre for development. It is usually expressed as a is a unit of measure for a length equal to percentage complete. Greenhouse gases: Greenhouse gases can 0.001 mm, or about 0.000039 inch. Its symbol be any type of gas that contributes to the is μm. The micrometre is commonly employed Customs broker: Customs brokers are greenhouse effect, especially greenhouse licensed by the Australian Customs Service to measure the thickness or diameter of gases specified under the Kyoto Protocol, microscopic objects. to provide professional assistance and advice, e.g. carbon dioxide. on customs, quarantine and import and Quayline: Quayline refers to a length of land export matters. GreenPower: GreenPower is a government lying alongside or projecting into water, for accreditation program for renewable energy. loading and unloading ships. Wharves are It is a joint initiative of ACT, NSW, SA, then built along the quayline, providing QLD, VIC and WA government agencies to the physical infrastructure for loading and guarantee that the renewable electricity you unloading the ships. buy from energy suppliers meets stringent environmental standards. Financial definitions and abbreviations Port of Brisbane Corporation Limited Annual Report 2009/2010 99
Queensland Wader Study Group (QWSG): The QWSG is a voluntary specialist group Financial definitions Abbreviations within Birds Queensland. It undertakes research on both migratory and resident Amortisation: the periodic allocation of the AAT Australian Amalgamated Terminals waders (shorebirds) in Queensland, and works cost of intangible assets and natural resources AQIS Aus tralian Quarantine and Inspection for their conservation. to the periods benefiting from their use. Service Ramsar: The Ramsar Convention or Capital expenditure: refers to payments BACH Br isbane Airport Corporation ‘Convention on Wetlands’ aims to promote made, or to be made, for the acquisition of a Holdings Ltd and protect wetlands throughout the world. long-term asset, such as land or infrastructure, Australia became a signatory in 1971, and now as well as the allocation of borrowing costs for BMT Brisbane Multimodal Terminal has more than 60 Ramsar sites, covering an capital projects. BPC Bundaberg Port Corporation area greater than the size of Tasmania. Depreciation: is the systematic allocation of CCC Community Consultative Committee Reclamation: Land reclamation is the process the depreciable amount of an asset over its DERM Department of Environment and of creating new land where there was once useful life. Resource Management water. It can also refer to the restoration of EBIT (Earnings before interest and tax): DTMR De partment of Transport and Main existing land to a more usable state. includes operating and non-operating profit Roads Statement of Corporate Intent (SCI): This before the deduction of interest and income EBIT Earnings before interest and tax is a 12-month business plan that we submit taxes (not including depreciation expenses). to our shareholding Ministers. The plan Expenses: includes all costs incurred during EBITDA Earnings before interest and tax, sets short-term goals and is produced in the course of business. depreciation and amortisation association with the five-year Corporate Plan, EEO Equal Employment Opportunity which sets long-term goals and objectives. Finance costs: are borrowing costs, such as interest. EVM Economic Value Management Stevedore: A stevedore is a person or FPE Future Port Expansion company employed to load and unload Impairment: is the amount by which the cargo ships. carrying amount of an asset exceeds its GOC Government Owned Corporation recoverable amount. Surcharging: Surcharging involves placing GPC Gladstone Ports Corporation Limited Interest-bearing liability: refers to the a temporary load of material (like sand) over GRI Global Reporting Initiative an area of reclaimed land, to squeeze water financing of loans. GST Goods and services tax out of the soft clays and dredged muds. NPAT (Net profit after tax): the total of a The amount of load placed must be equal to, company’s profits after taxes are deducted. HPH Hutchison Port Holdings Limited or greater than, the service loading to which Profitability: is a measure of the financial IMS Integrated Management System the developed facility will be subjected. success of a business. KPIs Key Performance Indicators Tanker: A tanker is a ship, plane or truck built Revenue: represents what a company earns, LAT Lowest Astronomical Tide to carry liquids, such as oil, in bulk. before expenses are deducted. LNG Liquefied Natural Gas Teu (twenty foot equivalent unit): A teu is Return on assets (ROA): is an indicator of a measurement of containers. Containers are profitability, calculated by dividing EBIT by LTI Lost Time Injury two sizes – 20 foot and 40 foot. A teu is one average total assets. LTIFR Lost Time Injury Frequency Rate 20-foot container. Return on equity (ROE): is also an indicator MSQ Maritime Safety Queensland Trailing suction hopper dredger (TSHD): of profitability, calculated by dividing NPAT by NGERS National Greenhouse and Energy A TSHD works by trailing a suction pipe average total equity. Reporting System along the seabed, sucking up material, and Shareholder equity: represents total assets depositing it into one or more hoppers in the NPAT Net profit after tax minus the value of total liabilities. vessel. The material is then either pumped PBC Port of Brisbane Corporation out of the vessel, or dumped through doors Taxes and dividends: is the total of taxes PBPL Port of Brisbane Pty Ltd in the hull. paid to the government, and dividends paid to shareholders. QTC Queensland Treasury Corporation Transhipment: Transhipment is the transfer of goods from one ship to another. This transfer Total assets: is the total value of assets QPA Queensland Ports Association may be direct, or it may be necessary to owned by a company. ROA Return on assets discharge the goods onto the wharf prior to ROE Return on equity loading them onto the second ship or onto a vehicle, should the second ship be loading at a SCI Statement of Corporate Intent different berth. ULDA Urban Land Development Authority Truck turn time (TTT): This is a measure of the time taken for a truck to complete the receival or delivery of its cargo, from the time it enters to the time it exits the terminal. Variation: A variation is any deviation from normal practice as defined by PBPL’s policies, standards, procedures and guides. A variation may relate to a health, safety, environment, process or quality practice. Wharf: A wharf is a structure built alongside the water, where ships berth for loading or discharging cargo. Wick drain: A wick drain is a vertical drain used in land reclamation. 100 Port of Brisbane Corporation Limited Annual Report 2009/2010 Port of Brisbane map
Legend Port of Brisbane map PBPL-managed facilities Bulk commodities
Service industry
Warehousing/container parks
Car precincts
Container trade
Container trade under construction
Reclamation areas
18 Under development 16 19 14 24 20
17 13 21 23 1 15 2 22 25 3
5 54 50 46 4 55 52 45
6 47 51 49 44 7 53 48 8
11 12
10
9 Port of Brisbane map Port of Brisbane Corporation Limited Annual Report 2009/2010 101
Legend
PBPL-managed facilities
Bulk commodities
Service industry
Warehousing/container parks
Car precincts
Container trade
Container trade under construction
Reclamation areas
Under development
26 27 28
31 37 30 33 43 34 38 29 42 41
32 40 39 35
36
1 Svitzer Australia 20 GrainCorp 39 P&O Trans Australia 2 PB Towage 21 Queensland Commodity Exports 40 P&O Trans Australia 3 PBPL Operations Base 22 Wharf Overflow Area 41 PBPL Vacant Land 4 Queensland Combined 23 Patrick Autocare PDI 42 Australian Terminal Services Emergency Services Academy 24 AAT Terminal 43 Chalmers Industries Container Park Moreton Island Ferries 5 25 Brisbane Multimodal Terminal (BMT) 44 Chalmers Freight Station Baulderstone 6 26 DP World Container Terminal 45 ACFS Dredging International Australia 7 27 Brisbane Autostrad® Terminal (Patrick) 46 Australian Customs Service Container QPS Water Police Examination Facility 8 28 Container Terminal Site for 9 IOR Terminals 11 and 12 Wharves (HPH) 47 Port Central 1 10 Port Gate Precinct 29 Future Port Expansion Area 48 Port Office (PBPL Head Office) 11 Truck Stop 30 Reclamation Site Office 49 Port Central Precinct 12 Public Boat Ramp 31 Patrick CargoLink 50 Patrick Autocare Storage 13 Queensland Bulk Handling 32 Reclamation Area 51 Retail Adventurers 14 General Purpose Wharf and Terminal 33 Patrick Truck Marshalling Area 52 Prixcar PDI 15 SAMI Bitumen Technologies 34 Patrick Port Services Container Park 53 Motor Vehicle Precinct 16 Coal Wharf 35 IPS Logistics 54 Prixcar Storage Area 17 Sunstate Cement 36 Shorebird Roost 55 Visitors Centre 18 Caltex Crude Wharf 37 Patrick Port Services 19 Multi-user Terminal 38 P&O Trans Australia Container Park 102 Port of Brisbane Corporation Limited Annual Report 2009/2010 Contact us
Contact us
Port Office Northshore Riverside Café 3 Port Central Avenue MacArthur Avenue Port of Brisbane QLD 4178 Hamilton QLD 4007 Telephone: +61 7 3258 4888 Telephone: +61 7 3868 3864 Facsimile: +61 7 3258 4703 Facsimile: +61 7 3868 4192 Email: [email protected] Email: [email protected]
BMT Jetty Kiosk Port Drive End of Wyvernleigh Close Port of Brisbane QLD 4178 Manly QLD 4179 Telephone: +61 7 3258 4860 Phone: +61 7 3396 3504 Facsimile: +61 7 3258 4706 Facsimile: +61 7 3895 2566 Email: [email protected] Port Central Café Operations Base Port Central 1 18 Howard Smith Drive Port of Brisbane QLD 4178 Port of Brisbane QLD 4178 Phone: +61 7 3895 1328 Telephone: +61 7 3258 4609 Facsimile: +61 7 3895 2566 Facsimile: +61 7 3258 4623 Email: [email protected] Our mailing address Locked Bag 1818 Visitors Centre Port of Brisbane QLD 4178 1 Whimbrel Street Port of Brisbane QLD 4178 Telephone: +61 7 3258 4677 Facsimile: +61 7 3895 2566 Email: [email protected]
Chairman’s Office Level 32, AMP Place 10 Eagle Street Brisbane QLD 4000 Telephone: +61 7 3258 4643 Facsimile: +61 7 3258 4703 Email: [email protected]
www.portbris.com.au Feedback form Annual Report 2009/2010
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Email Port of Brisbane Corporation Limited Bris of Port ACN 124 048 522
Port Office 3 Port Central Avenue Port of Brisbane QLD 4178 Locked Bag 1818 Port of Brisbane QLD 4178 ane Cor b ane Tel +61 7 3258 4888 Fax +61 7 3258 4703 Email [email protected]
www.portbris.com.au p oration Limited Limited oration View this report online at www.portbris.com.au/annualreport Annu a l Repo l r t 2009/2010 t
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