March 12, 2021

Investment certainty amid uncertain times; a skillful balancing act

Pictured: the city of Melbourne at night; Credit Alexis via UnSplash

Shaun Mooney, Executive General Manager (Commercial), Port of Melbourne writes:

At Port of Melbourne this year, efficient port operations have been maintained despite the challenges. The port, supported by its tenants and customers, continued to handle more than a third of the country’s container trade volumes despite Victoria being severely impacted by the global coronavirus pandemic, just months after a bushfire disaster.

The response has shown more than ever that the port freight sector is fundamental to the nation’s economic sustainability.

It is equally important to look to future growth, and make the necessary plans. In October 2020, following extensive and productive consultation with industry, community and government, Port of Melbourne released the final version of its 2050 Port Development Strategy, a comprehensive roadmap that includes 10 major infrastructure projects and entails capital expenditure of some $1.5 billion over the coming decades.

Some key parts of the 30 year Port Development Strategy are already underway.

Our Big Ship Strategy, which responds to the global trend of increased size and capacity of container ships, has already invested around $20 million to install new 150 tonne bollards at Swanson Dock East and West, and undertake an enhanced dredging programme.

Find out more about investment plans, particularly rail investment plans, at the Port of Melbourne.

Editor’s Note: the above article has been lightly edited.

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