SYDNEY Ports Corporation (SPC) has reported that strong export growth has helped Sydney Ports record its eighth consecutive year of container trade increases.
SPC CEO Grant Gilfillan said despite the global economic downturn, total container trade through Port Botany, including imports, reached a record 1.784 million TEU (Twenty-foot Equivalent Units), up 0.3% compared to the previous financial year.
Gilfillan said the latest trade figures for Port Botany revealed full container exports grew by 14.9% in the 2008-09 financial year.
He added the higher exports of timber, cereals, machinery and transport equipment were the primary drivers of the growth, while countries such as China, New Zealand, Japan and the United States continued to be the main consumers of these local products.
He said another standout adding to growth is timber, with demand from China boosting timber exports by 71.3%.
While he said the global slowdown will still pose a challenge for Sydney over next twelve months, he expressed confidence that the increased investment in infrastructure, such as the $1 billion Port Botany Expansion, would enable Sydney Ports to be well placed to take advantage once the market improves.
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