Port Authority of New South Wales explained

Port Authority of New South Wales
Type:State owned_enterprise
Industry:Ports
Predecessors:Sydney Ports Corporation
Port Kembla Port Corporation
Maritime Services Board
Founded:1 July 1995
Hq Location City:Sydney
Hq Location Country:Australia
Area Served:New South Wales
Key People:David Marchant (Chairman)
Philip Holliday (CEO)
Num Employees:363
Num Employees Year:2022
Parent:Transport for NSW

The Port Authority of New South Wales, is a corporation owned by the Government of New South Wales, Australia. It acts as harbourmaster at the state's six commercial seaports, managing shipping movements, safety, security and emergency response. While major cargo handling facilities are operated by the private sector, the Port Authority continues to manage smaller facilities including Sydney's two cruise terminals, at Circular Quay and White Bay; common user berths at Sydney's Glebe Island and White Bay; and the regional ports at Eden and Yamba.[1]

Formation

Newcastle Port Corporation (NPC) was established on 1 July 1995 with the corporatisation of the Hunter Ports Authority, a subsidiary of the Maritime Services Board.[2] In May 2013, the NSW Government sold 99 year leases over Port Botany and Port Kembla to a consortium of Industry Funds Management, AustralianSuper, QSuper and Tawreed Investments.[3] The corporations retained harbourmaster and maritime safety functions, but were unprofitable in their initial form.[4]

Twelve months later, when the Port of Newcastle was leased, the lessons from Botany and Kembla were applied, leaving a profitable residual NPC. On 1 July 2014, the residual Newcastle, Sydney and Port Kembla port corporations were amalgamated into the Port Authority of New South Wales.[5]

Notes and References

  1. https://www.portauthoritynsw.com.au/media/5508/port-authority-annual-report-2022.pdf Annual report for year ended 30 June 2022
  2. https://www.records.nsw.gov.au/agency/527 Newcastle Ports Corporation
  3. https://www.smh.com.au/national/nsw-ports-privatised-in-5-billion-deal-20130412-2hq0z.html NSW ports privatized in $5 billion deal
  4. Web site: Statement of corporate intent, 2017–18. 8 September 2018. Port Authority of NSW.
  5. https://www.portauthoritynsw.com.au/media/1903/port_authority_of_nsw_annual_report_2014-2015.pdf Annual report for year ended 30 June 15 page 11