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Pacific National
Pacific National is Australia's largest private rail freight operator. It was formed in 2002, and is operated by the consortium Australian Logistics Acquisition Investments Pty Ltd. It was previously operated by Toll Holdings before 2016 and Toll and Patrick Corporation before 2005. The rail operator was formed as an amalgamation of FreightCorp and National Rail's freight operations, and later acquired Australian Transport Network. Pacific National has since sold off some of its assets to national and other private operators. It operates services in all mainland Australian states and territories. As of June 2012[update], the company operates 596 locomotives and 12,875 wagons.
In February 2002, National Rail's freight operations and rollingstock, jointly owned by the Federal, New South Wales and Victorian Governments, were combined with FreightCorp, owned by the New South Wales Government, and sold to a joint venture between Patrick Corporation and Toll Holdings, trading as Pacific National.
In February 2004, Pacific National purchased Australian Transport Network, operator of ATN Access and AN Tasrail. In August 2004, Pacific National purchased Freight Australia, giving Pacific National control of the Victorian non-urban rail track, excluding the interstate network which is controlled by the Australian Rail Track Corporation.
The Australian Competition and Consumer Commission attached special conditions to the sale to ensure competition in the rail freight industry. The company was required to provide a "starter pack" of locomotives, wagons, train paths, and freight terminals for a third party rail operator on the east-west route across the Nullarbor Plain. To fulfil that, Pacific National sold nine refurbished G class locomotives to competitor SCT Logistics to allow it to operate its own services.[dead link]
In 2005, Toll Holdings launched a successful hostile takeover of its joint venture partner Patrick Corporation, giving Toll Holdings 100% ownership of Pacific National. In 2007, Toll Holdings was restructured into two separately ASX listed companies: Toll Holdings and Asciano Limited. As part of this restructure, Pacific National became a wholly owned subsidiary of Asciano Limited.
In 2016, Asciano agreed to sell Pacific National to Australian Logistics Acquisition Investments Pty Ltd, a consortium of Global Infrastructure Partners, CPP Investment Board, China Investment Corporation, GIC Private Limited and British Columbia Investment Management Corporation. The transfer was completed on 19 August 2016.
In March 2005, Pacific National Queensland became the first non-Queensland Rail narrow gauge commercial rail operation in Queensland, with the commencement of container services between Brisbane and Cairns.
In 2009, Pacific National Queensland further expanded its narrow gauge operations, entering the export coal market, then dominated by incumbent Queensland Rail.
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Pacific National
Pacific National is Australia's largest private rail freight operator. It was formed in 2002, and is operated by the consortium Australian Logistics Acquisition Investments Pty Ltd. It was previously operated by Toll Holdings before 2016 and Toll and Patrick Corporation before 2005. The rail operator was formed as an amalgamation of FreightCorp and National Rail's freight operations, and later acquired Australian Transport Network. Pacific National has since sold off some of its assets to national and other private operators. It operates services in all mainland Australian states and territories. As of June 2012[update], the company operates 596 locomotives and 12,875 wagons.
In February 2002, National Rail's freight operations and rollingstock, jointly owned by the Federal, New South Wales and Victorian Governments, were combined with FreightCorp, owned by the New South Wales Government, and sold to a joint venture between Patrick Corporation and Toll Holdings, trading as Pacific National.
In February 2004, Pacific National purchased Australian Transport Network, operator of ATN Access and AN Tasrail. In August 2004, Pacific National purchased Freight Australia, giving Pacific National control of the Victorian non-urban rail track, excluding the interstate network which is controlled by the Australian Rail Track Corporation.
The Australian Competition and Consumer Commission attached special conditions to the sale to ensure competition in the rail freight industry. The company was required to provide a "starter pack" of locomotives, wagons, train paths, and freight terminals for a third party rail operator on the east-west route across the Nullarbor Plain. To fulfil that, Pacific National sold nine refurbished G class locomotives to competitor SCT Logistics to allow it to operate its own services.[dead link]
In 2005, Toll Holdings launched a successful hostile takeover of its joint venture partner Patrick Corporation, giving Toll Holdings 100% ownership of Pacific National. In 2007, Toll Holdings was restructured into two separately ASX listed companies: Toll Holdings and Asciano Limited. As part of this restructure, Pacific National became a wholly owned subsidiary of Asciano Limited.
In 2016, Asciano agreed to sell Pacific National to Australian Logistics Acquisition Investments Pty Ltd, a consortium of Global Infrastructure Partners, CPP Investment Board, China Investment Corporation, GIC Private Limited and British Columbia Investment Management Corporation. The transfer was completed on 19 August 2016.
In March 2005, Pacific National Queensland became the first non-Queensland Rail narrow gauge commercial rail operation in Queensland, with the commencement of container services between Brisbane and Cairns.
In 2009, Pacific National Queensland further expanded its narrow gauge operations, entering the export coal market, then dominated by incumbent Queensland Rail.