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Flooding freezes Queensland trade

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Flooding freezes Queensland trade article image
Freight company Maersk has advised that with closure of the Port of Brisbane export of goods overseas from the port has come to a standstill. General manager of Port of Brisbane operations Peter Kyte has advised port businesses to consider sending home non-essential staff or ceasing operations, according to their risk assessment. The port closed on Tuesday 11 January with all ships vacating their berths to anchor offshore. Potential power loss and closure of access roads were contributing factors in the decision. The effect of the flooding extends from port access to road and rail closures, and exporter’s offices being non-operational, making them unable to process documentation such as Pre Receival Advices. Coal and wheat industry freight movements are halted in some areas due to mine and rail closures, and Queensland livestock and key export crops have been destroyed by flood waters. Queensland’s cotton crop in is worth $400 million a year, and the sorghum crop $160 million. Initial estimates from the Royal Bank of Canada indicate flooding damage to the mining and agriculture sectors could wipe $9 billion from export revenue. The full extent of the effects on the state will be uncovered only once floodwaters recede.

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