first_imgzoom Sydney HarbourAustralian Minister for Roads and Freight Duncan Gay announced yesterday the start of operations of the new Port Authority of New South Wales and welcomed the appointments of the Chairman and Chief Executive Officer.  The new authority was formed from the amalgamation of the Sydney, Newcastle and Port Kembla Port Corporations.“The NSW Government’s port governance review of the three Port Corporations found there were opportunities to improve efficiency in this critical part of the NSW transport network.The amalgamated Port Authority of New South Wales will ensure these ports can continue to meet the needs of our port users efficiently and effectively,” Minister Gay said.Port KemblaCEO Port Authority of New South Wales Grant Gilfillan said the amalgamation was a win for NSW businesses and port users.“This enlarged single corporation will deliver a more efficient and robust ports business for the state with the benefits of commercial discipline provided under the state-owned corporation model,” Mr. Gilfillan said.“We have an exciting future ahead of us and I am confident the expanded corporation will deliver even better services and outcomes for our major stakeholders and the people of NSW.”Port of NewcastleThe Port Authority of New South Wales will continue to be responsible for harbour masters and pilotage, navigation services, dangerous goods and marine pollution and emergency response.It is also responsible for managing Port Jackson, Yamba and Eden, and the Hunter Valley Coal Export Framework.Press Release; July 2nd, 2014last_img read more

The head of Canadian Pacific Railway Ltd. has voiced his displeasure at the idea of Alberta’s $3.7-billion deal with Canada’s two biggest rail companies to ship more crude via rail amid a pipeline crunch squeezing oilsands producers.Keith Creel, speaking at a conference in Miami on Wednesday, said his company “didn’t like it at all” when Premier Rachel Notley stepped in to work out a plan that aims to move up to 120,00 barrels of oil per day by rail by 2020.Saying the government’s presence in the commercial realm wasn’t “healthy,” Creel nonetheless admitted the deal “just as good if not better” than others hammered out by CP Rail.Alberta has leased about 4,400 rail cars to get more oil to foreign markets, including refiners on the U.S. Gulf Coast, while the province works to increase pipeline capacity.Notley has said the rail plan will net $2.2 billion for taxpayers, with the increased traffic expected to boost commercial, royalty, and tax revenue by $5.9 billion.Initial daily shipments of 20,000 barrels are expected to begin as early as July along tracks owned by CP Rail as well as Canadian National Railway Co.Companies in this story: (TSX:CP, TSX:CNR)The Canadian Press read more