CICCC Update—11 November 2016 Meeting
An overview of Terminals Pty Ltd operations
At the November meeting, Don McKenzie, Terminals Pty Ltd (TPL), gave an informative outline of the market conditions in which Terminals Pty Ltd is currently working. Some of the key points are summarised below.
"Since the business was purchased by Macquarie Bank and a group of superannuation funds, we have suffered a lowering of revenue through customers exiting the market. TPL have developed new customers but with lower margins resulting in profits lower than projected.
"We are now seeing more intermediary traders in the chemical market that are reluctant to sign long term contracts. Manufacturing industries are on the downturn therefore not requiring products. Our major competitor in the Sydney market, Vopak, walked away from their chemical business 12 months ago.
"As a company TPL have spent the last 18 months putting a lot more rigor and control into our internal processes that will stand us in good stead for the future. These include MEX, our maintenance system; and Integrum, our new incident and action tracking system. The computerisation of these systems is saving a lot of time, facilitating easy access to all the data, enabling a variety of reports to be generated and allowing analysis to highlight specific trends."
Next meeting of the CICCC
The next meeting will be held at the Terminals Site Office at McKenzie Road, Coode Island, on Tuesday 24 January 2017 at 3pm.
Robin Saunders, Chair CICCC, 30 November 2016
CICCC web site: http://www.ciccc.org