PORT of Townsville has reported an increased year-on-year operating result for the 2021-22 financial year, but overall trade is still below pre-pandemic levels.

The port’s latest annual report suggests the operating result of $17.5 million for 2021-22 (up 22% on the previous year’s results) to a record year for food and grain exports.  

The overall trade throughput of 7.23 million tonnes remains lower than it was before Covid-19, but Port of Townsville CEO Ranee Crosby said dips in some of the port’s major commodities were offset by growth in other areas.

“We are experiencing a diversification of agricultural products being exported from Townsville, as containerised exports pick up,” Ms Crosby said.

“Overall, there was a 25% increase in food and grain exported from Townsville, which included strong growth in mung beans (55%) and sorghum (32%) and the return of soybean exports after a few years’ hiatus.

“Other big movers included general chemical products (62%), molasses (29%), general mining cargo (25%) and petroleum products (20.5%).

“Additionally, we completed Townsville’s first transhipment of motor vehicles, connecting 521 new cars to southern ports.”

However, the port reported year-on-year trade decreases for livestock (-74%) and agricultural chemicals (-27%).

The effects of the pandemic, current global geopolitical climate and changes in Australia’s mineral concentrates market were reportedly a challenge for the port.

Seasonal factors reduced export figures for live cattle, sugar and fertiliser, but mining and minerals customers took advantage of domestic markets rather than exporting.

The port said the focus on domestic markets created a positive flow-on effect for the region.

The majority of the port’s $40.39 million capital expenditure in 2021-22 was reportedly assigned to the ongoing Channel Upgrade project.

The channel upgrade is the first stage of a $1.6 billion port expansion project, which has been underscored by several pipeline projects under consideration, according to Ms Crosby.

“We are collaborating with a number of stakeholders on potential new projects that will drive significant economic growth for our region,” Ms Crosby said.

“These projects in rare earth and critical minerals, batteries, biomass, hydrogen and other renewable energy will contribute significantly to the world’s climate ambitions and transition to a clean energy future.”

Port of Townsville also noted it received its third Australian Port of the Year Award since 2015.