DP World extends lease deal at Brisbane

“The Good Environmental Practice clause enables the Corporation to impose a Port Requirement regarding environmental and sustainability enhancements, subject to a reasonableness and parity test. This is the time first that a lessee has contractually undertaken to pursue environmental enhancements that it may implement on its own initiative or that may be required by the Corporation,” said Coleman.

DP World currently leases container terminals 4, 5 and 6 at the port. With the recent completion of Berth 10 (the port’s seventh dedicated container terminal), Brisbane’s other terminal operator, Patrick, will vacate Terminal 7, enabling DP World to take it over.

“This will give DP World a total lease area of 35.8 ha to be operated as a container-only terminal for an initial term of 20 years, with a 20-year option,” explained Coleman. “This will expand both port operators’ leased area, providing them with 900 m of quayline each, to enable them to continue to maintain a three-berth operation in the face of ever-increasing ship size.”