~AUSTRALIAN TRAIN NEWS~
Queensland Rail spends $65 million on overtime, replacement buses in 18 months
Queensland Rail (QR) has forked out $65 million for crew overtime and replacement buses during an 18-month period, a figure the State Opposition has described as "obscene".
But the Government has blamed the LNP for cutting the number of drivers when it was in office.
The LNP has added up figures from Questions on Notice which revealed the cost of overtime for train drivers and guards was $41.6 million since October 2016 — the start of the so-called "rail fail" which sparked the Strachan Inquiry.
Another $23 million was spent on buses and taxis when trains were out of service for track maintenance
"It is staggering that almost a million dollars in taxpayer's money is being spent every fortnight in overtime," Opposition Leader Deb Frecklington said.
But the Government has blamed the LNP for cutting the number of drivers when it was in office.
The LNP has added up figures from Questions on Notice which revealed the cost of overtime for train drivers and guards was $41.6 million since October 2016 — the start of the so-called "rail fail" which sparked the Strachan Inquiry.
Another $23 million was spent on buses and taxis when trains were out of service for track maintenance
"It is staggering that almost a million dollars in taxpayer's money is being spent every fortnight in overtime," Opposition Leader Deb Frecklington said.
Queenslanders are paying an obscene amount for overtime but services aren't improving.
"I will keep saying it until I am blue in the face, 'Annastacia Palaszczuk must sack Transport Minister Mark Bailey'."
"I will keep saying it until I am blue in the face, 'Annastacia Palaszczuk must sack Transport Minister Mark Bailey'."
The most recent figures show $485,000 was paid in overtime to drivers in one April fortnight, and $312,000 to guards.
Mr Bailey said the overtime bill was on the way down as more drivers were employed.
Mr Bailey said the overtime bill was on the way down as more drivers were employed.
15th January 2018
Canberra light rail misses milestone targets by months, but ACT Government confident of 2018 finish
The consortium building Canberra's billion-dollar light-rail project has failed to meet all but one of its delivery targets this year.
The ACT Government has been forced to push back completion dates in five areas, including the laying of track and construction of the stops at each end of the line.
"Dynamic testing", which was supposed to begin in February, only started this month.
Four indicators set for completion by the end of the financial year remain unfinished, including the construction of a maintenance and control centre.
That building was slated for completion in March, but its revised target date has blown out five months, to August.
The only target the consortium was able to meet was the arrival of the first light-rail vehicle, which was constructed by Spanish firm CAF and shipped over in December last year.
Despite the delays, Transport Minister Meegan Fitzharris said the project was still on track to begin operation this year, and that the revised target dates had no implication on the contract between the ACT Government and Canberra Metro.
"There are always changes to key milestones when undertaking significant infrastructure projects on the scale of the light rail network," she said.
"However, the Government has been assured by Canberra Metro that the most important date — the completion date, is still planned for the end of 2018 — as reflected in the budget papers."
The ACT Government has been forced to push back completion dates in five areas, including the laying of track and construction of the stops at each end of the line.
"Dynamic testing", which was supposed to begin in February, only started this month.
Four indicators set for completion by the end of the financial year remain unfinished, including the construction of a maintenance and control centre.
That building was slated for completion in March, but its revised target date has blown out five months, to August.
The only target the consortium was able to meet was the arrival of the first light-rail vehicle, which was constructed by Spanish firm CAF and shipped over in December last year.
Despite the delays, Transport Minister Meegan Fitzharris said the project was still on track to begin operation this year, and that the revised target dates had no implication on the contract between the ACT Government and Canberra Metro.
"There are always changes to key milestones when undertaking significant infrastructure projects on the scale of the light rail network," she said.
"However, the Government has been assured by Canberra Metro that the most important date — the completion date, is still planned for the end of 2018 — as reflected in the budget papers."
19th January 2018
PACIFIC NATIONAL INVESTORS MEETINGS SPUR CONFUSION
Perplexing. That's how several fund managers interpreted a recent investor session with rail freight giant Pacific National.
Street Talk understands Credit Suisse's equities arm held an investor lunch with Pacific National big wigs in recent weeks, raising more questions than it answered.
While investors were keen to get intel on the bulk haulage, coal and steel markets for any insights into listed rival Aurizon, many came away feeling Pacific National executives were asking a lot of the questions.
While it's not uncommon for private companies to field and take requests for meetings with investors and analysts, several fundies came away thinking Pacific National may be headed back to public markets over the medium term.
It seems illogical, given how hard the now owners fought for the business less than two years ago. But seasoned investors couldn't shake the feeling.
And it certainly would not be a small bite. When the break up and takeover of Asciano was consummated in 2016, independent expert Grant Samuel valued Pacific National at $8.75 billion to $9.25 billion. The deal saw Asciano removed from the glare of public markets.
Street Talk understands Credit Suisse's equities arm held an investor lunch with Pacific National big wigs in recent weeks, raising more questions than it answered.
While investors were keen to get intel on the bulk haulage, coal and steel markets for any insights into listed rival Aurizon, many came away feeling Pacific National executives were asking a lot of the questions.
While it's not uncommon for private companies to field and take requests for meetings with investors and analysts, several fundies came away thinking Pacific National may be headed back to public markets over the medium term.
It seems illogical, given how hard the now owners fought for the business less than two years ago. But seasoned investors couldn't shake the feeling.
And it certainly would not be a small bite. When the break up and takeover of Asciano was consummated in 2016, independent expert Grant Samuel valued Pacific National at $8.75 billion to $9.25 billion. The deal saw Asciano removed from the glare of public markets.
Pacific National has had a busy few years. In 2017, it inked a deal with Linfox to take coal carrier Aurizon's intermodal assets in Queensland. It has a new chief executive at the helm after appointing BHP veteran Dean Dalla Valle to the role last year.
Pacific National is also positioning to capitalise on the federal government's mammoth Inland Rail project.
Pacific National is also positioning to capitalise on the federal government's mammoth Inland Rail project.
AUSTRALIAN TRAIN NEWS
Any legal breaches linked to Aurizon's sale of its Queensland intermodal business to Pacific National after warning it had "strong concerns" about the proposed transaction.
Australian Competition and Consumer Commission chairman Rod Sims told The Australian Financial Review it would examine whether any "understandings" were reached between Aurizon and Pacific National over the shutting down of Aurizon's interstate intermodal business.
"We're looking to see whether there has been any breach of the law in that decision," Mr Sims said.
Aurizon has agreed to sell its Queensland intermodal business, which transports containers of goods, to Pacific National and trucking group Linfox.
It is also selling its Acacia Ridge interstate terminal south of Brisbane – considered a Queensland gateway – to Pacific National, as well as closing its interstate intermodal operations.
Australian Competition and Consumer Commission chairman Rod Sims told The Australian Financial Review it would examine whether any "understandings" were reached between Aurizon and Pacific National over the shutting down of Aurizon's interstate intermodal business.
"We're looking to see whether there has been any breach of the law in that decision," Mr Sims said.
Aurizon has agreed to sell its Queensland intermodal business, which transports containers of goods, to Pacific National and trucking group Linfox.
It is also selling its Acacia Ridge interstate terminal south of Brisbane – considered a Queensland gateway – to Pacific National, as well as closing its interstate intermodal operations.