{"id":4327,"date":"2008-10-01T16:19:00","date_gmt":"2008-10-01T15:19:00","guid":{"rendered":"https:\/\/portstrategy.nfdtesting.uk\/coastlink\/2008\/10\/01\/brisbane-lease\/"},"modified":"2008-10-01T16:19:00","modified_gmt":"2008-10-01T15:19:00","slug":"brisbane-lease","status":"publish","type":"post","link":"https:\/\/www.portstrategy.com\/coastlink\/2008\/10\/01\/brisbane-lease\/","title":{"rendered":"\u201cSustainability clause\u201d central to DP World\/Brisbane lease"},"content":{"rendered":"

Port of Brisbane Corporation <\/span> CEO Jeff Coleman said that <\/span> the Corporation was delighted <\/span> by the length of DP World\u2019s <\/span> commitment and the size of its <\/span> proposed investment, and, in <\/span> particular, by its willingness to <\/span> embrace the inclusion of a \u201cGood <\/span> Environmental Practice\u201d clause in <\/span> the lease. <\/span> \u201cThe \u201cGood Environmental <\/span> Practice\u201d clause enables the <\/span> Corporation to impose a <\/span> \u201cPort Requirement\u201d regarding <\/span> environmental and sustainability <\/span> enhancements,\u201d explained <\/span> Coleman, \u201csubject to a <\/span> reasonableness and parity test. <\/span> This is the time first that a lessee <\/span> has contractually undertaken <\/span> to pursue environmental <\/span> enhancements that it may <\/span> implement on its own initiative <\/span> or that may be required by the <\/span> Corporation.\u201d <\/span> He continued \u201cWith the <\/span> recent completion of Berth 10 <\/span> (the port\u2019s seventh dedicated <\/span> container terminal), the port\u2019s <\/span> other terminal operator, Patrick, <\/span> will vacate Terminal 7, enabling <\/span> DP World to take it over. This <\/span> will give DP World a total lease <\/span> area of 35.8ha to be operated as <\/span> a container-only terminal for an <\/span> initial term of 20 years, with a <\/span> 20-year option. This will expand <\/span> both port operators\u2019 leased area, <\/span> providing them with 900 metres <\/span> of quay line each, to enable them <\/span> to continue to maintain a three berth <\/span> operation in the face of <\/span> ever-increasing ship size.\u201d <\/span> Mr Coleman said that DP <\/span> World would also be making <\/span> additional investment by way <\/span> of purchasing the existing <\/span> improvements at its <\/span> terminals. <\/span> \u201cUnder the existing leases, <\/span> the Corporation owns the <\/span> improvements in the form of <\/span> pavements, lighting, buildings, etc. <\/span> DP World has expressed a strong <\/span> desire to own its improvements <\/span> under the new lease, as significant <\/span> additional development is <\/span> required by DP World to refurbish <\/span> and re-engineer the terminal\u201d, he <\/span> said. <\/span> DP World chief executive <\/span> Mohammad Sharaf said the <\/span> Fisherman Island Terminal in <\/span> Brisbane was a key asset in the <\/span> company\u2019s expanding global <\/span> portfolio. <\/span> \u201cWe are pleased the new <\/span> lease specifically <\/span> recognises the <\/span> importance of environmental <\/span> and sustainability enhancements <\/span> in terminal operations, and we <\/span> congratulate the Port of Brisbane <\/span> Corporation on this initiative. DP <\/span> World takes its responsibility to <\/span> the environment very seriously <\/span> and we are working hard as an <\/span> organisation to minimise our <\/span> impact on the environment <\/span> globally.\u201d<\/p>\n

www.dpworld.com <\/span><\/em><\/strong><\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

DP World recently reaffirmed its commitment to the Port of Brisbane, when it signed an Agreement to Lease for a new 40-year lease at the Port of Brisbane, announcing it is looking at investing $A250 million in the port over time in response to market demand. DP World currently leases container Terminals 4, 5 and 6 at the port.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34],"tags":[],"sponsor":[],"class_list":["post-4327","post","type-post","status-publish","format-standard","hentry","category-australasia-greenport"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/4327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=4327"}],"version-history":[{"count":0,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/4327\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=4327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=4327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=4327"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=4327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}