PORT of Brisbane and Carnival Australia announced they had reached a commercial agreement regarding the Brisbane International Cruise Terminal (BICT) at Luggage Point.
With the deal sealed, the terminal is slated to begin receiving passengers by mid-2020, and the amended commercial agreement follows the ACCC’s conditional approval of the terminal.
Port of Brisbane CEO Roy Cummins said the decision meant the Port would now get on with the job of building the terminal.
“The agreement with Carnival Australia gives us commercial certainty to construct the BICT, and we thank them for their ongoing support. This is also good news for the cruise industry as a whole, which will benefit from access to a world-class terminal facility,” Mr Cummins said.
“Cementing this partnership today means we can avoid delays and maintain our construction timeline which – weather permitting – targets completion in second quarter 2020.”
Transport and main roads minister Mark Bailey said the announcement was welcome news for industry across Queensland.
“This is a great example of the private sector and Government working together successfully through our Market Led Proposal framework,” Mr Bailey said.
“This project safeguards Brisbane’s role as an important cruise ship port, ensuring we keep the existing 1,250 jobs related to the industry in Brisbane.”
Carnival Australia and P&O Cruises Australia president Sture Myrmell said the new terminal was a ‘win-win’ for cruising as well as the Queensland economy.
“It means Brisbane can take its place on the world cruising map for some of the globe’s most iconic cruise lines with ships too large to use existing facilities at Portside,” he said.
“This project creates the opportunity for Queensland and its many regional ports to become the nation’s powerhouse for the cruise industry’s continued growth at a time when industry figures show infrastructure constraints around Australia are slowing momentum.”
Carnival Australia has entered into a long-term agreement with Port of Brisbane committing to purchase a maximum of 100 ‘foundation’ berthing days of no more than four in any week for 15 years to underwrite the construction of the new terminal.
In exchange, Carnival Australia receives priority berthing rights at the terminal.
Carnival Australia’s arrangements remain subject to approval by the Foreign Investment Review Board.