MANAGEMENT

NQBP ready to adapt to changing coal trade conditions

AN ABILITY to identify and respond to threats and opportunities remains paramount for North Queensland Bulk Ports as coal trade conditions continue to change.

NQBP is positioning itself to take advantage of new and emerging business opportunities in particular in relation to hydrogen trade.

NQBP is positioning itself to take advantage of new and emerging business opportunities in particular in relation to hydrogen trade.

NQBP chief executive Nicolas Fertin said the company continued to demonstrate resilience along with the criticality of steelmaking and electricity-making coal trades to many countries.

"While the global pandemic, regional trade tensions and the war in Ukraine continued to impact port trade during 2021-22, we were steadfast in our ongoing commitment to supporting Queensland's regional economy and positioning NQBP to take advantage of new and emerging business opportunities in particular in relation to hydrogen trade," Fertin said in NQBP's annual report.

"NQBP's activities are directly dependent on trade demand from Australia's neighbouring countries in Asia and the sub-continent.

"Trade tensions have continued to impact NQBP.

"The combined effects of the regional tensions and the war in Ukraine on demand and prices and supply chain disruptions resulted in NQBP coal trade being similar to last year."

NQBP reported that 125.3 million tonnes of coal were traded in 2021-22 compared to 127.9Mt in the previous year.

The Port of Mackay achieved record trade during the year thanks to a combination of high fuel imports, high sugar and grain exports and other trade.

"NQBP continued to work collaboratively with industry partners and government agencies to support the progressive evolution and transition to new industries," Fertin said.

"This included working closely with the government on their renewables and hydrogen policy implementation.

"While external conditions naturally shift and fluctuate, our strategies - centered around research, port-ready planning and building and enhancing relationships - have ensured NQBP remains agile and adaptive."

During 2021-22 NQBP developed Long Term Port Development Plans for the ports of Abbot Point, Hay Point and Mackay and provided them to the Queensland Department of Transport and Main Roads as a key input into its master plans for those priority ports.

In August 2021, NQBP signed a memorandum of understanding with Dalrymple Bay Infrastructure, Brookfield, and international trading company Itochu Corporation for a feasibility study on green hydrogen production and development of a supply chain at Hay Point.

In February NQBP signed a funding agreement with the parties for feasibility studies associated with the Dalrymple Bay Hydrogen Project development.

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