Newcastle will play a greater role in Australia’s fuel reserves following the Federal Government’s announcement of a $260 million package to boost fuel security.
Mayfield bulk fuel precinct. To the north is the Kooragang coal loader. Image Port of Newcastle
Government grants will cover up to 50 per cent of total eligible project expenditure. Projects should start mid-2021 and finish by 2024.
Port of Newcastle welcomes the Federal Government’s funding investment in the fuel storage capability of the region, the creation of (130) jobs in Newcastle, the strengthening of Australia’s fuel security and the increase of fuel trade through the Port of Newcastle,” said Craig Carmody, CEO, Port of Newcastle.
The awarding of grants to two projects in the Hunter is recognition of the importance the Hunter, and the Port of Newcastle, plays in supporting NSW and Australia’s economic strength and performance.”
The Port [will] strengthen Australia’s fuel security by investing in the expansion of diesel, petrol and aviation jet fuel reserves at our dedicated bulk-liquids facilities operated by Stolthaven and Park Fuels.”
Port of Newcastle received the largest allocation of these grants from the Federal Government – a clear vote of confidence in our region and the Port of Newcastle’s capability and ability to diversify.”
Newcastle has three bulk liquid import terminals – Stolthaven, Park Fuels, and ATOM (Australian Terminals Operations Management). Stolthaven and ATOM operate dedicated bulk-fuels terminals at Mayfield 7 and Dyke 1 berths respectively, whilst Park Fuels operates from Port of Newcastle’s Bulk Precinct at Walsh Point.
The Boosting Australia’s Diesel Storage program is a key part of the Government’s comprehensive fuel security package, announced in the 2020-21 Budget, to secure Australia’s long-term fuel supply by increasing onshore stock and sovereign refining capability.
Newcastle is Australia’s largest deepwater port on the nation’s East Coast, handling trade worth about $26 billion to the national economy each year.
The port handles 4,400 ship movements and 164 million tonnes of cargo annually, including dry bulk, bulk liquids, rollon-rolloff, general and project cargoes and containers. It has a deepwater shipping channel operating at 50% of its capacity, significant freed port-side land at the former BHP steelworks, and directly accesses the national rail and road infrastructure.