Failed agribusinesses affect port
Albany Port, in Western Australia, has suffered a drop in trade due to the failure of two large agribusinesses in the area.
Port CEO Brad Williamson says the collapse of Timbercorp and Great Southern, which both went into administration last year with close to $1 billion in debts, caused trade to fall by more than a third compared to the same period last year.
Williamson also indicated that a decline in demand from Japan had affected trade volumes as well.
“Trade is well down, driven mainly by the reduction in the woodchip trade. We’re 36 percent down on the same time last year,” he reported.
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