The outcomes included the directive for Ports Corporation of Queensland to divest of certain ports under its management, with the remaining ports merging with Mackay Ports Limited. On 2 July 2009, the ports of Weipa, Abbot Point, Mackay, Hay Point and Maryborough merged with Mackay to become part of the new port authority of North Queensland Bulk Ports Corporation Limited (NQBP).
NQBP is a company under the Corporations Act and the Government Owned Corporations Act 1993 (GOC Act) and a port authority under the Transport Infrastructure Act 1994.
- a Statement of Corporate Intent, which is an agreement between the organisation’s Board and its shareholding Ministers; and
- a five-year Corporate Plan.
As a GOC, NQBP operates according to commercial principles, raises its own revenue and makes the dividend and tax equivalent payments to the Queensland Government.