Freo's View

FREMANTLE PORTS PROFIT RISE

Posted in fremantle, fremantle ports, harbour, maritime by freoview on October 5, 2016

One has to wonder why the WA government is so keen to sell profitable Fremantle Port that made a $ 52.3 million profit, a rise of 9 per cent, last financial year although there was a dip in trade.

Container trade was down by 3.8 per cent and bulk loading at the outer harbour at Kwinana was also down.

Cruise ship visits increased to 58 ships and 152,734 passengers and this year 60 tourist ships will visit Fremantle.

It is estimated Fremantle Port is worth $ 2.4 billion.

 

Roel Loopers

3 Responses

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  1. Ed said, on October 5, 2016 at 11:10 am

    AJ like those properties up in the Pilbara! :/

  2. Ed said, on October 5, 2016 at 10:30 am

    This is what right wing free market capitalists do. They are not happy to see public enterprise succeed. Look at Telstra it’s an absolute basket case and the people that always lose out are the customers. No monopoly or utility should ever be privately owned.

  3. AJ said, on October 5, 2016 at 8:33 am

    Probably because if you have $2.4 billion less debt that is going to equate to a reduction of interest payments of $60 million per annum (at 2.5% interest) plus you no longer have the personnel and other operational costs associated with running the port.
    The port is profitable but it is probably not the most profitable investment for the Government.


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