SPINE: INSIDE BACK COVER: 211mm BACK COVER: 220mm 12mm FRONT COVER: 220mm INSIDE FRONT COVER: 217mm NORTH QUEENSLAND BULK PORTS CORPORATION LIMITED About the Report The North Queensland Bulk Ports Corporation Limited (NQBP) Annual Report is a summary of our financial and non-financial performance during 2010-11. It includes our major highlights over the past year and how we plan to deliver sustainable development of our new business into the future. This year’s annual report will focus on our continuing growth and development, outlining our achievements in infrastructure development and trade growth. As a leading Port Authority, our report meets with the requirements of the Corporations Act 2001, and the Government Owned Corporations Act 1993. This report includes details of NQBP’s two wholly owned subsidiaries, Ports Corporation of Queensland Limited (PCQ) and Mackay Ports Limited (MPL). Throughout this report, NQBP represents the entire group. One of the leading port authorities in Australia, NQBP is committed to supporting the growth of trade in Queensland through delivering world-class port facilities and customer service excellence. Our expert leadership team manages and inspires our employees to work together to retain our status as one of the nation’s most forward thinking, results-driven and progressive port authorities. N Annual Report 2010–2011 Brisbane Office: O The purpose of this report is to provide our shareholding Ministers and other stakeholders with a relevant RTH QUEE RTH Level 24, 300 Queen Street and comprehensive source of information. Our report is distributed to shareholding Ministers, members of GPO Box 409, Brisbane Qld 4001 federal, state and local governments, existing and prospective customers, industry and business groups, Phone 07 3224 7088 N local communities, environmental groups and our existing and prospective employees. Facsimile 07 3224 7234 S L A N Mackay Office: D BU (registered office of NQBP, MPL and PCQ) L Level 1, Wellington House, K P 181 Victoria Street, Mackay Qld 4740 O RTS C RTS PO Box 3340, North Mackay Qld 4740 Phone 07 4969 0700 O R Facsimile 07 4969 0799 PO [email protected] RATI www.nqbp.com.au ON LI North Queensland Bulk M Ports Corporation Limited ITED ACN 136 880 218 ABN 36 136 880 218 Ports Corporation of Queensland Limited ACN 126 302 994 CELEBRATING DIVERSITY ABN 49 657 447 879 Mackay Ports Limited ACN 131 965 707 Annual Report ABN 69 131 965 707 2010–2011 North Queensland Bulk Ports Corporation Limited cares about sustainablility and has chosenCert n o. SGS-COC-005396 to print on paper sourced from certified well managed plantations, forests and controlledCert no. SGS-COC-005396 sources. NORTH QUEENSLAND BULK PORTS CORPORATION LIMITED About the Report The North Queensland Bulk Ports Corporation Limited (NQBP) Annual Report is a summary of our financial and non-financial performance during 2010-11. It includes our major highlights over the past year and how we plan to deliver sustainable development of our new business into the future. This year’s annual report will focus on our continuing growth and development, outlining our achievements in infrastructure development and trade growth. As a leading Port Authority, our report meets with the requirements of the Corporations Act 2001, and the Government Owned Corporations Act 1993. This report includes details of NQBP’s two wholly owned subsidiaries, Ports Corporation of Queensland Limited (PCQ) and Mackay Ports Limited (MPL). Throughout this report, NQBP represents the entire group. One of the leading port authorities in Australia, NQBP is committed to supporting the growth of trade in Queensland through delivering world-class port facilities and customer service excellence. Our expert leadership team manages and inspires our employees to work together to retain our status as one of the nation’s most forward thinking, results-driven and progressive port authorities. N Annual Report 2010–2011 Brisbane Office: O The purpose of this report is to provide our shareholding Ministers and other stakeholders with a relevant RTH QUEE RTH Level 24, 300 Queen Street and comprehensive source of information. Our report is distributed to shareholding Ministers, members of GPO Box 409, Brisbane Qld 4001 federal, state and local governments, existing and prospective customers, industry and business groups, Phone 07 3224 7088 N local communities, environmental groups and our existing and prospective employees. Facsimile 07 3224 7234 S L A N Mackay Office: D BU (registered office of NQBP, MPL and PCQ) L Level 1, Wellington House, K P 181 Victoria Street, Mackay Qld 4740 O RTS C RTS PO Box 3340, North Mackay Qld 4740 Phone 07 4969 0700 O R Facsimile 07 4969 0799 PO [email protected] RATI www.nqbp.com.au ON LI North Queensland Bulk M Ports Corporation Limited ITED ACN 136 880 218 ABN 36 136 880 218 Ports Corporation of Queensland Limited ACN 126 302 994 CELEBRATING DIVERSITY ABN 49 657 447 879 Mackay Ports Limited ACN 131 965 707 Annual Report ABN 69 131 965 707 2010–2011 North Queensland Bulk Ports Corporation Limited cares about sustainablility and has chosenCert n o. SGS-COC-005396 to print on paper sourced from certified well managed plantations, forests and controlledCert no. SGS-COC-005396 sources. Contents Feedback Year in Review 2 We are very interested to hear how you think we can improve our Our Highlights 2 annual report, as a major aim is to fulfil the diverse information Performance Overview 2010-11 5 needs of readers and ensure that we continue to improve on our Who We Are 10 reporting standards. Chairman’s Message 13 We invite you to contact us with any feedback you have on the content or design of the report by completing the feedback form Chief Executive Officer’s Report 15 at the back of the report or by contacting our Corporate Relations Board of Directors 16 team on (07) 3224 8863 or email [email protected]. Executive Leadership Team 18 Postal Details: Senior Management Team 19 Corporate Relations Team North Queensland Bulk Ports Corporation Limited Operational Performance 21 GPO Box 409 Our Customers 21 Brisbane Queensland 4001 Our Trade 21 This report and various other publications are available on our Our Port Infrastructure 21 website www.nqbp.com.au. Requests for printed copies of the Port of Hay Point 23 report can be made through our Corporate Relations team via the details above. Port of Mackay 25 Port of Abbot Point 27 Photography: Port of Weipa 29 Above Photography Pty Ltd Thomas Calder Photographer Social Performance 31 Wricor Photography Nicole Betham Social Performance Summary 31 Fiona Langsdorf People 32 Special acknowledgements: Health and Safety 35 Front cover: Community 36 Second photo of Anton van Staden – courtesy of Mackay Daily Mercury Environmental and Sustainability Performance 38 Page 35: Our Highlights 38 Brad Fish and Greg Mallin – courtesy of Mackay Daily Mercury Our Environmental Management System 41 Our Environment and Sustainability 41 Sustainable Design 43 Effective Implementation 44 Protecting the Marine Environment 44 Environmental Performance 45 Corporate Governance 46 Corporate Structure 46 Board of Directors 46 Remuneration Arrangements 49 Board Committees 50 Risk Management 52 Legal Compliance 53 Additional Information 54 Ports at a Glance 56 Financial Performance 61 Directors’ Report 62 Independent Auditor’s Report 103 Glossary of Terms 104 NQBP | YEAR IN REVIEW Our Highlights ABBOT POINT X50 EXPANSION SUCCESSFULLY LEASED ABBOT POINT T4-7 WELCOMED THE FIRST SHIP ABBOT POINT TERMINAL EXPRESSIONS OF INTEREST The works program to expand the On 3 May 2011, the Queensland The initial planning was completed export capacity of Terminal 1 at Government announced that and a site for inland stockpiles and Abbot Point progressed very well Mundra Port Pty Ltd (Mundra terminals was selected within the and was completed ahead of the Port) was the successful lessee Abbot Point State Development contracted demand requirement. of Terminal 1 at Abbot Point Area following consultation with The shiploader commenced as part of the State’s Renewing the Department of Infrastructure operations on 9 May 2011 Queensland program. NQBP and Planning (DIP). The site will when it loaded the first ship at finalised the long term lease of cater for both standard and narrow Terminal 1, Berth 2. Terminal 1 to Mundra Port in gauge rail inloading and up to four June 2011, with the transaction terminals at ultimate development. PREFERRED PROPONENTS including the right for Mundra With strong demand from the ANNOUNCED FOR Port to investigate the feasibility mining sector for increased port DEVELOPMENT OF of further expansion of the capacity at Abbot Point, NQBP DUDGEON POINT Terminal utilising land areas called for Expressions of Interest adjacent to the eastern boundary for the development of Terminals 4 In July 2010, NQBP announced of the Terminal. DBCT Management Pty Ltd and through 7 (T4-7) on 28 May 2011. Adani Mining Pty Ltd (Adani Group) as the preferred proponents for the development of new coal export infrastructure at Dudgeon Point within the Port of Hay Point. 2 MULTI CARGO FACILITY (MCF) MACKAY Property REVIEW CONSTRAINTS ANALYSIS Environmental Impact In 2010, NQBP completed a rent STUDY COMPLETED FOR Statement (EIS) COMPLETED review of 52 Port of Mackay property UNDEVELOPED PORT LANDS Planning for the Multi Cargo Facility leases, including the marina which NQBP has completed master gained momentum as NQBP and was the first review in 10 years. As a planning for the sites at the the State put in place the building result, rental charges now reflect a northern and southern ends blocks to allow the Abbot Point more accurate market value. of Mulherin Park. Preferred State Development Area (APSDA) commercial uses for the to realise its enormous potential. BLUE DIAMOND LEASE approximate 1.85 hectare northern Planning commenced for project Coal mine expansions in the site have been identified as boat procurement and delivery.