Published: Monday, 25 May 2020 at 11:59:39 AM
On Monday 18th May 2020, Mid West Ports Authority (MWPA) commenced the implementation of its ‘Beyond COVID-19 Recovery Plan’. The plan outlines the strategy and necessary actions that will transition MWPA’s pre-COVID-19 business model to a new way of operating in a post-COVID-19 landscape, whilst remaining true to our values, vision, purpose and the objectives of our Strategic Plan.
The port sector has been directly exposed to the impacts of COVID-19 and the fragility of the global supply chains. It is difficult to predict what a post-COVID-19 maritime sector might look like with economists believing the full impacts on ports is yet to come.
The effects of the pandemic may result in MWPA suffering significant reduction in revenue in 2020 and beyond. Several financial scenarios have been modelled to consider the potential depth and duration of this unprecedented circumstance, and MWPA will be looking to find efficiencies across the business to develop a more cost effective, efficient structure and address our current risk exposures.
When we emerge from this crisis, we need to be in a position to operate under a ‘new normal’. MWPAs pre-COVID business model cannot be expected to function effectively in a post-COVID port landscape. Our Recovery Plan must position the Port to be sustainable and capture future opportunities, it must foster change and become more nimble whilst remaining aligned and true.
WE WILL:
- Emerge from the COVID-19 crisis as a strong, viable Port Authority that has reset the paradigm effective pandemic response in Australia.
- Identify and act upon efficiencies and continuous improvement strategies that enhance the productivity of our processes and staff.
- Identify new ways to be connected, provide support and an exceptional experience for our customers, shareholders and community.
- Remain a pivotal provider as a gateway to trade and tourism for the long term benefit of our communities.
- Use the principles of social innovation to enhance the experience, drive new collaborations and product development, and lead our communities through recovery.
- Structurally change our cost base to be more financially sustainable, and better positioned to absorb disruptions in our markets.
- Identify and support ways to accelerate recovery in the community, as a member of that community.
- Develop, leverage and maintain stronger political connections to ensure long-term financial support.
WE WILL NOT:
- Imperil the future sustainability of the Port Authority.
- Move away from our commitment to being ‘BOLD supply chain enablers for the sustainable long term future of regional Australia’ and with the purpose of being the ‘Gateway to Trade and Tourism’.
- Compromise the quality of our service delivery or our customer experience.
- Make decisions or take actions without due regard to the impacts on our employees, stakeholders, our community, and to MWPAs vision, purpose and values.
The MWPA Executive have already implemented a range of immediate measures aimed at managing the potential exposure of employees to COVID-19, arresting financial loss and positioning the Port Authority for recovery.
The need for further action is unavoidable, and the measures undertaken will have to be significant for MWPA to emerge successfully from this unprecedented crisis.
MWPA will not waiver from our commitment to move boldly through the challenges we face in the COVID-19 landscape and beyond, for the sustainability of our shared future. We understand these changes will not be easy, but together we will drive innovative and sustainable solutions to the complex challenges of this new world and identify the opportunities that will drive the recovery of our Port Authority and our communities. We will emerge from this crisis as a strong contemporary Port Authority.
Below is our operational Roadmap to Recovery. The three stages will be reviewed based on trade, changes to government restrictions, advice from health professionals and any local outbreaks of COVID-19.
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