Type Public Area served Australia CFO Paul Lewis COO Paul Digney | Traded as ASX: QUB Headquarters Sydney, Australia Founded 2010 | |
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Industry Logistics, rail transport, stevedoring, warehousing Predecessor KFM Diversified Infrastructure and Logistics Fund, Kaplan Equity Key people Maurice James - Managing Director
Chris Corrigan - Chairman Stock price QUB (ASX) A$ 2.45 0.00 (0.00%)21 Mar, 2:20 PM GMT+11 - Disclaimer | ||
Qube Holdings Ltd is a diversified logistics and infrastructure company in Australia. It was founded in 2010 after the investment trust KFM Diversified Infrastructure and Logistics Fund acquired Kaplan Equity and became a standard operating company, rebranded as Qube Logistics. Kaplan Equity part owned P&O Automotive and General Stevedoring and P&O Trans Australia (which in turn owned South Spur Rail Services and Southern & Silverton Rail). Qube acquired outright control and majority ownership of P&O Trans Australia in April 2011.
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Ports
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.In 2015 Qube opened up Qube Container Park (QCP) in Fremantle Western Australia. The purpose of this container park was to consolidate all container lines that were previously handled by 5 different container parks into one container park with the intention of increasing efficiency with port operation handling of empty containers. Since its opening QCP has never had a grasp on providing acceptable service to transport companies utilising their container park. A wait of 1 hr is the standard for picking up empty containers. Many transport companies can wait upwards of 2 hours from 5 pm in the evening just to pick up 1 container. It is believed that tight fisted management, many of whom consume bananas and frozen fruit as a main source of nutrition, are to blame for not putting any more "bros" into forklifts to keep their costs down down, service is down. Unfortunately for transport operators they are screwed because qube have somewhat of a monopoly with the majority of shipping lines putting their equipment through QCP. Cries for help to the Fremantle Port Authority (FPA) are fruitless, as they believe what ever altered, non-fact statistics QCP provide them in terms of their operating efficiency and adhering to mythical KPI's, what ever they may be. No matter what technological systems you put in place to make a container park of the future, consolidating 5 container parks with a total of approximately 12 -15 forklifts into one container park with 5-7 forklifts, and still handling all the containers from 5 container parks, is never going to work. Transport operators are hopeful that a new container park opening up in the next year will provide competition for QCP by taking some shipping lines from them. Hopefully this enables QCP to swallow whats left of what they have bitten off.
Rail
Qube operates freight services in regional New South Wales and Victoria, and between Melbourne and Adelaide. Subsidiaries South Spur Rail Services and Southern & Silverton Rail, which operate regional freight and infrastructure services in New South Wales and South Australia.
In June 2012, Qube announced it had entered into an agreement to purchase Macarthur Intermodal Shipping Terminal Pty Ltd, whose assets include Independent Rail of Australia.
Locomotive fleet
In addition, Qube leases locomotives from CFCL Australia.