Qube Holdings

Australian logistics company

Qube Holdings

V/Line G class Locomotives lead one of Qube Holdings's BlueScope Steel Train towards Long Island in May 2022
Company type	Public
Traded as	ASX: QUB
Industry	Logistics, rail transport, stevedoring, warehousing
Founded	July 2006
Founder	Chris Corrigan
Headquarters	Sydney , Australia
Key people	Paul Digney (Managing Director) Allan Davies (Chairman)
Revenue	$1.7 billion (2019)
Net income	$181 million (2019)
Number of employees	6.500 (2020)
Website	www.qube.com.au

Qube Holdings is a diversified logistics and infrastructure company in Australia.

History

In July 2006, following the takeover of Patrick Corporation by Toll Holdings, Chris Corrigan and some executives departed and teamed with Kaplan Funds Management to explore logistics opportunities. In January 2007, the KFM Diversified Infrastructure & Logistics Fund was listed on the Australian Securities Exchange.^[1]

In April 2007, a 75% shareholding in P&O Automotive & General Stevedoring and 50% shareholding in P&O Trans Australia were acquired from DP World.^[2]

In June 2010, the KFM Diversified Infrastructure & Logistics Fund was renamed Qube Logistics.^[3]^[4]^[5] In April 2011, Qube exercised an option to take its ownership in P&O Trans Australia up to 95%.^[6]^[7]^[8] In 2012, Qube purchased Independent Rail of Australia.^[9]

In January 2015 Qube acquired ISO limited in New Zealand.

As part of the break up of Asciano, Qube purchased a 50% stake in Patrick Corporation in August 2016.^[10]

In 2019, Qube acquired Chalmers Industries and LCR Group. In September 2021, Newcastle Agri Terminal was acquired.^[11]^[12]

In May 2023, Qube acquired Kalari Proprietary Limited from Swire Investments (Australia) Ltd and a 50% stake in Pinnacle, a New Zealand owned and operated group of companies.^[13]^[14] In November 2023 Qube acquired the remaining 50% in Pinnacle along with Stevenson Logistics in North Fremantle and Agri Rail Terminal in Narrabri. ^[15]

Operations

Ports and bulk

Qube has freight handling and stevedoring facilities at 29 ports in Australia through its subsidiaries P&O Automotive and General Stevedoring, Northern Stevedoring Services, Australian Amalgamated Terminals, PrixCar and the W Qube joint venture between Qube and Wilhelmsen Ships Service. It is also a 50% joint venture partner in Patrick Corporation.

Logistics

Qube Logistics operates road and rail services. Qube operates rail freight services in regional New South Wales and Victoria, and between Melbourne and Adelaide. In January 2022, Qube commenced operating a contract to transport BlueScope products from its steel works at Port Kembla to Melbourne and Brisbane.^[16] It owns the Moorebank Intermodal Terminal in Sydney.^[17]

Locomotive fleet

As at October 2019, Qube owned the following locomotives:^[18]

Class	Image	Number in class	Built	Notes
1100		8	2011-2012	4 additional units (1109-1112) ordered but never delivered, sold to White Pass & Yukon Route.
MZ/14		13	1972–1974	Ex Independent Rail of Australia, 4 stored
44		9	1961–1967	Ex Independent Rail of Australia and P&O Trans-Australia, 8 stored
442		1	1971–1972	Ex Independent Rail of Australia, stored
47		1	1973	Ex Independent Rail of Australia, stored
80		3	1980–1983	Ex Coote Industrial
RL		3	2005-2010	Ex P&O Trans-Australia
GML		1	1994	Ex Comalco.
QBX		6	2015
G		2	1984-1989	Ex SCT Logistics #521 + 532.
830		2	1963-1966	Ex Greentrains #864 + 872
QL		20	2020-2023	20 All in Service
QE		12	2023

Strategic Assets

The Strategic Assets business is responsible for the development of expansion projects and investments. These include:

Moorebank Intermodal Terminal
Minto Intermodal Terminal (acquired June 2012 and included the assets of Independent Rail of Australia.^[19]
Quattro Grain Terminal (Port Kembla)
TQ Bulk Liquids Terminal (Port Kembla)
AAT Facilities Management
Newcastle Agri Terminal, acquired September 2021^[11]^[12]

References

^ KFM Diversified Infrastructure & Logistics Fund Admission to Official List Archived 5 July 2022 at the Wayback Machine Australian Securities Exchange 3 January 2007
^ KIL to participate in major logistics alliance Archived 5 July 2022 at the Wayback Machine Kaplan Funds Management 10 April 2007
^ Announces name change to Qube Logistics Archived 6 July 2022 at the Wayback Machine KFM Diversified Infrastructure & Logistics Fund 5 February 2010
^ "Corrigan eyes Patrick dream at Kaplan". Sydney Morning Herald. 6 February 2010. Archived from the original on 12 April 2010. Retrieved 8 June 2012.
^ "Chris Corrigan enjoying life in a slower lane". The Australian. 28 August 2010. Archived from the original on 3 September 2010. Retrieved 8 June 2012.
^ Qube to acquire DP World's Shareholding in P&O TRans Australia Archived 4 July 2022 at the Wayback Machine Qube Logistics 18 April 2011
^ "Corrigan on fast track with $106m ports deal". The Australian. 19 April 2011.
^ Qube and POTA Catch Point issue 203 May 2011 page 15
^ Qube takes over Independent Railways of Australia Catch Point issue 210 July 2012 page 11
^ Qube Brookfield consortium completes acquisition of Patrick Qube Holdings 18 August 2016
^ ^a ^b Qube acquires export grain facility Newcastle Agri Terminal Qube Holdings 8 September 2021
^ ^a ^b Qube Holdings to buy Newcastle Agri Terminal for $90million Newcastle Herald 9 September 2021
^ https://qube.com.au/wp-content/uploads/2023/05/2546933.pdf. {{cite web}}: Missing or empty |title= (help)
^ Writer, Staff (3 May 2023). "Qube acquires Kalari in $145 million dual deal". Big Rigs. Retrieved 15 February 2024.
^ https://qube.com.au/wp-content/uploads/2023/11/ASX-Announcement-Qube-Trading-and-Business-Update-101123.pdf. {{cite web}}: Missing or empty |title= (help)
^ SCT confirmed for Bluescope steel east-west contract, Qube wins north - south work Railway Digest June 2020 page 6
^ Moorebank Logistics Park Archived 6 March 2020 at the Wayback Machine Qube Holdings
^ Australia Wide Fleet List Motive Power issue 126 November 2019 page 71
^ "Qube expands regional rail capacity" (PDF). Qube Logistics Holdings Limited. 7 June 2012.