Pilbara Ports profits surge, Freo hits container record

Fremantle Ports moved a record number of containers last financial year while the Pilbara Ports Authority reported a profit increase of more than 30 per cent, according to annual reports.

The reports, tabled in parliament today, highlight the strength of the state’s economy and show export trends in the city and regions.

Fremantle Ports recorded $46.2 billion worth of trade last financial year, moving a record number of containers to generate a before-tax profit of $67 million according to its annual report.

Exports through the port’s facilities at Fremantle and Kwinana increased by 16 per cent, largely the result of a 54 per cent increase in grain in FY23, along with a 39 per cent increase in silica sands exports.

Grain comprised just over 30 per cent of the overall commodities exported through the Fremantle facility, followed by refined petroleum at 17.8 per cent and Alumina at 7.3 per cent.

The number of new vehicles imported into WA increased by more than 21 per cent to 113,967 – the highest recorded since 2012-13.

The uptick corresponds with ABS figures released earlier in September which showed an 11.3 per cent increase in vehicle purchases in Western Australia over the three months to June as supply bottlenecks eased.

Container trade in the port’s inner harbour exceeded past records, hitting 809,000 total containers to pass the 800,000 mark for the first time.

“The strength of the Western Australian economy has driven trade volumes, with bumper harvest years for grain and robust demand for other commodities including silica and clinker, keep our outer harbour facilities at Kwinana busy,” Fremantle Ports chair Chris Sutherland said.

“Concurrently, the containerised trade achieved a record year as a result of increased global demand, and combined with strong vehicle, agricultural and mining equipment imports, the inner harbour was a hive of activity.”

Mr Sutherland also noted the return of cruise ships, with 33 making their way through the port after a two-year absence.

He also mentioned progress made on the Westport project alongside the state government, highlighting infrastructure works underway to deliver a new facility for clinker storage and import alongside the development of business cases to expand facilities at Kwinana.

Fremantle Ports invested more than $100 million in its facilities last financial year.

Meanwhile, the Pilbara Ports Authority reported a 30.6 per cent increase in net product after tax to $241.4 million, off throughput of 752.4 million tonnes.

Iron ore made up 93.4 per cent of total throughput across the facilities at Dampier and Port Hedland, with LNG the next largest by percentage at 4.1 per cent.

“The continued growth of Pilbara region general cargo trade, growth in battery minerals exports and the enormous potential of the Pilbara to be a global leader in the green energy sector are central factors driving Pilbara Ports’ planning and investment program,” Pilbara Ports chair Brad Geatches said.

“During the year, we secured funding support from the WA and Federal governments to develop the Lumsden Point general cargo facility in Port Hedland.”

Pilbara Ports said it expected to invest $632.7 million in Lumsden Point over the next four years, along with $368.8 million at the Port of Dampier to support urea exports from Perdaman’s planned urea plant.

The Mid West Ports Authority reported profit of $25.2 million after tax, while the Kimberley Ports Authority reported a before tax profit of $200,000.