Hutchison Ports officially opens Brisbane container terminal

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Hutchison Ports officially opens Brisbane container terminal

Hutchison Ports Holdings (HPH) inaugurated its new Brisbane Container Terminals (BCT) on 23 January 2014.

BCT was officially opened by Warren Truss, Australia's Deputy Prime Minister and Minister for Infrastructure and Regional Development.

After signing a 42-year lease on 29 January 2008, HPH invested A$200 million (US$176 million) to build the facility on reclaimed land on Fisherman's Island.

HPH was first identified as preferred bidder for the development on 17 April 2007.

 Stephen Gumley, BCT chief executive, stated:

Brisbane Container Terminals is the first terminal operated by a third stevedore to service Australia's important east coast container trade. This is a dramatic and positive change on the waterfront.Until now this market was the sole province of two companies. Now it is one in which three companies vie for shipping line business. This has to be good for shipping lines and their customers with greater value and better service.

HPH Deputy Chairman, Dr John Meredith, said he saw BCT as a significant player in Australia's developing trade and the HPH network that spans 52 countries, he stated:

We intend to be here for the long haul and we intend to make a difference,

Brisbane is Australia's fastest growing container port. It will also be the first port in Australia to receive the benefit of increased competition through the introduction of a third container stevedore. The capacity of the terminal, currently at 300,000 TEUs per annum, will be developed in line with market demand and will reach 800,000 TEUs upon completion.

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