Qube Holdings is a diversified logistics and infrastructure company in Australia.
History
In July 2006, following the takeover of Patrick Corporation by Toll Holdings, Chris Corrigan and some executives departed and teamed with Kaplan Funds Management to explore logistics opportunities. In January 2007, the KFM Diversified Infrastructure & Logistics Fund was listed on the Australian Securities Exchange.[1]
In April 2007, a 75% shareholding in P&O Automotive & General Stevedoring and 50% shareholding in P&O Trans Australia were acquired from DP World.[2]
In June 2010, the KFM Diversified Infrastructure & Logistics Fund was renamed Qube Logistics.[3][4][5] In April 2011, Qube exercised an option to take its ownership in P&O Trans Australia up to 95%.[6][7][8] In 2012, Qube purchased Independent Rail of Australia.[9]
In January 2015 Qube acquired ISO limited in New Zealand.
As part of the break up of Asciano, Qube purchased a 50% stake in Patrick Corporation in August 2016.[10]
In 2019, Qube acquired Chalmers Industries and LCR Group. In September 2021, Newcastle Agri Terminal was acquired.[11][12]
In May 2023, Qube acquired Kalari Proprietary Limited from Swire Investments (Australia) Ltd and a 50% stake in Pinnacle, a New Zealand owned and operated group of companies.[13][14] In November 2023 Qube acquired the remaining 50% in Pinnacle along with Stevenson Logistics in North Fremantle and Agri Rail Terminal in Narrabri.[15]
In May 2024 Qube entered into an agreement to acquire Melbourne International RoRo & Automotive Terminal (MIRRAT) from Wallenius Wilhelmsen for approximately A$332.5 million.[16]
Operations
Ports and bulk
Qube has freight handling and stevedoring facilities at 29 ports in Australia through its subsidiaries P&O Automotive and General Stevedoring, Northern Stevedoring Services, Australian Amalgamated Terminals, PrixCar and the W Qube joint venture between Qube and Wilhelmsen Ships Service. It is also a 50% joint venture partner in Patrick Corporation.
Logistics
Qube Logistics operates road and rail services. Qube operates rail freight services in regional New South Wales and Victoria, and between Melbourne and Adelaide. In January 2022, Qube commenced operating a contract to transport BlueScope products from its steel works at Port Kembla to Melbourne and Brisbane.[17] It owns the Moorebank Intermodal Terminal in Sydney.[18]
Locomotive fleet
As of October 2019, Qube owned the following locomotives:[19]
Locomotive fleet
As of October 2019, Qube owned the following locomotives:[19]
Strategic Assets
The Strategic Assets business is responsible for the development of expansion projects and investments. These include:
- Moorebank Intermodal Terminal
- Minto Intermodal Terminal (acquired June 2012 and included the assets of Independent Rail of Australia.[20]
- Quattro Grain Terminal (Port Kembla)
- TQ Bulk Liquids Terminal (Port Kembla)
- AAT Facilities Management
- Newcastle Agri Terminal, acquired September 2021[11][12]
External links
References
- KFM Diversified Infrastructure & Logistics Fund Admission to Official List Australian Securities Exchange, 3 January 2007^
- Kaplan Funds Management. KIL to participate in major logistics alliance 10 April 2007^
- KFM Diversified Infrastructure & Logistics Fund. KIL acquisition to double the size of logistics investments – assets to increase to around $445 million. Announces name change to Qube Logistics. 5 February 2010^
- Matt O'Sullivan. Corrigan eyes Patrick dream at Kaplan Sydney Morning Herald, 6 February 2010, retrieved 8 June 2012^
- Tracy Lee. Chris Corrigan enjoying life in a slower lane The Australian, 28 August 2010, retrieved 8 June 2012^
- Qube Logistics. Qube to acquire DP World's Shareholding in P&O Trans Australia 18 April 2011^
- Corrigan on fast track with $106m ports deal The Australian, 19 April 2011^
- Qube and POTA Catch Point, May 2011^
- Qube takes over Independent Railways of Australia Catch Point, July 2012^
- Qube Holdings. Qube Brookfield consortium completes acquisition of Patrick 18 August 2016^
- Qube Holdings. Qube acquires export grain facility Newcastle Agri Terminal 8 September 2021^
- Qube Holdings to buy Newcastle Agri Terminal for $90 million Newcastle Herald, 9 September 2021^
- Qube Continues Its Diversification and Growth Strategy with Two New Acquisitions 2023-05-01^
- Qube acquires Kalari in $145 million dual deal Big Rigs, 2023-05-03, retrieved 2024-02-15^
- Qube Holdings. Trading and Business Update 2023-11-10^
- https://qube.com.au/wp-content/uploads/2024/05/Qube-Enters-Into-Agreement-to-Acquire-MIRRAT.pdf retrieved 2 June 2024^
- SCT confirmed for Bluescope steel east-west contract, Qube wins north-south work Railway Digest, June 2020^
- Moorebank Logistics Park Qube Holdings^
- Australia Wide Fleet List Motive Power, November 2019^
- Qube expands regional rail capacity Qube Logistics, 7 June 2012^