A container terminal at the Port of Newcastle could provide a A$6bn (US$4.1bn) boost to the New South Wales economy as well as significantly reducing truck trips through Sydney by 2050, according to a new report.
The report Global Gateway for NSW: the economic impact of a container terminal at the Port of Newcastle found that a terminal in Newcastle would reduce the number of truck trips by up to 750,000 per year.
Economic consultancy AlphaBeta estimates the terminal would reduce land transport costs for businesses in northern NSW by A$2.8bn by 2050.
The report compared Newcastle with Port Botany and Port of Brisbane in terms of container transport costs and found that the savings using Newcastle ranged from A$193 to A$583 per teu.
Port of Newcastle chief executive Craig Carmody said while Australia’s east coast ports are unable to efficiently accommodate vessels handling up to 18,000 teu, the Port of Newcastle already has the deep channel and the road and rail landside capacity to manage these ships.
