17 October 2013. Chief Minister Adam Giles has welcomed news of a record profit for the Darwin Port Corporation, driven by a surge in cargo volumes and improved economic conditions.

The Darwin Port Corporation Annual Report for 2012-13 shows the organisation made a before tax profit of $11 million for the year.

“This record-breaking result represents a 31% increase in total revenue for the Port Corporation and is more evidence the Territory is open for business,” Mr Giles said.

“The volume of cargo traded was the highest since 2009 and saw total revenue reaching the $51 million mark. Exported cargo increased by 500,000 tonnes or almost 22% on the previous year.

“The import of bulk liquids and petroleum, as well as the export of bulk minerals led the way for exceeding revenue targets for the year.

“Almost double the number of vessels called-in at the Port compared to the previous year.

"This includes 31 additional livestock ships which is a 45% increase from the previous year when the industry was hit hard by the Federal Labor Government’s knee-jerk live cattle ban.

“The report notes that visits by 61 cruise ships have also given a huge boost to local retailers.

"More than $2.6 million was injected into local economy over three consecutive days in March from three cruise ships berthed at city wharves.

“On the wave of these results, the Port Corporation is planning for an important dredging project at the entrance of the Harbour to open it up to unrestricted tidal access 24 hours a day, 365 days a year.

“The Government has already identified the need for a second port to enable further industrial development.

"This is a long term project and a concept study for the future of our ports is due for completion towards the end of the year.”

Another article selected for publication in the news by Global Reach Press at TheMediaCompany.com.au