Japan Post’s Toll Group investing $311m to boost Bass Strait trade

Japan Post’s Toll Group has reported that its $311m investment to boost the Bass Strait trade between mainland Australia and Tasmania is “well underway”.

In a statement issued yesterday (7 August), Toll Group Managing Director, Michael Byrne said the investment includes $170mi to build two new ships and $141m to upgrade terminals, wharves and berthing facilities in Melbourne and Burnie.

“This is the largest-ever investment by a logistics business in the Bass Strait, and underpins Toll’s commitment to the Australian domestic market and the Bass Strait trade,” said Byrne.
“Toll is the gateway between Tasmania and mainland Australia. We are proud to support the state’s local economy by helping businesses reach interstate and international markets. Equally important, Tasmanian consumers depend upon Toll to import products, particularly retail goods, and we are proud to support this exchange.

“Bolstering our carrying capacity means we can support the Tasmanian exports boom driven by demand from Australian and Asian markets.”

The new, 700TEU purpose-built ships will commence operations on 1 March 2019. They will replace Toll’s existing ships, and continue to operate overnight services on a six-day per week schedule.