Qube Holdings
Australian logistics company
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Qube Holdings is a diversified logistics and infrastructure company in Australia. It is owned by Macquarie Asset Management
 | |
 Qube Logistics freight train passing through Sunshine North in November 2023 | |
| Type | Subsidiary |
|---|---|
| ASX: QUB | |
| Industry | Logistics Rail transport Stevedoring Warehousing |
| Founded | July 2006 |
| Founder | Chris Corrigan |
| Headquarters | , Australia |
| Key people | Allan Davies (Chairman) Paul Digney (Managing Director) |
| Revenue | $4.2 billion (2024/25) |
| $377 million (2024/25) | |
Number of employees | 10,000 (June 2025) |
| Parent | Macquarie Asset Management |
| Website | www |
History
In July 2006, following the takeover of Patrick Corporation by Toll Holdings, Chris Corrigan and some executives departed and teamed with Kaplan Funds Management to explore logistics opportunities. In January 2007, the KFM Diversified Infrastructure & Logistics Fund was listed on the Australian Securities Exchange.[1]
In April 2007, a 75% shareholding in P&O Automotive & General Stevedoring and 50% shareholding in P&O Trans Australia were acquired from DP World.[2]
In June 2010, the KFM Diversified Infrastructure & Logistics Fund was renamed Qube Logistics.[3][4][5] In April 2011, Qube exercised an option to take its ownership in P&O Trans Australia up to 95%.[6][7][8] In 2012, Qube purchased Independent Rail of Australia.[9][10]
In January 2015 Qube acquired ISO limited in New Zealand.
As part of the break up of Asciano, Qube purchased a 50% stake in Patrick Corporation in August 2016.[11]
In 2019, Qube acquired Chalmers Industries and LCR Group. In September 2021, Newcastle Agri Terminal was acquired.[12][13]
In May 2023, Qube acquired Kalari Transport from Swire and a 50% stake in Pinnacle, a New Zealand owned and operated group of companies.[14][15] In November 2023 Qube acquired the remaining 50% in Pinnacle along with Stevenson Logistics in North Fremantle and Agri Rail Terminal in Narrabri.[16]
In May 2024 Qube entered into an agreement to acquire Melbourne International RoRo & Automotive Terminal from Wallenius Wilhelmsen for $333 million.[17]
In February 2026, Qube's board of directors recommended a takeover offer from Macquarie Asset Management be accepted.[18] The company was delisted from the Australian Securities Exchange on 8 July 2026.[19]
Operations
Ports and bulk
Qube has freight handling and stevedoring facilities at 29 ports in Australia through its subsidiaries P&O Automotive and General Stevedoring, Northern Stevedoring Services, Australian Amalgamated Terminals, PrixCar and the W Qube joint venture between Qube and Wilhelmsen Ships Service. It is also a 50% joint venture partner in Patrick Corporation.
Logistics
Qube Logistics operates road and rail services. Qube operates rail freight services in New South Wales, Victoria and South Australia. In January 2022, Qube commenced operating a contract to transport BlueScope products from its steel works at Port Kembla to Melbourne and Brisbane.[20][21] It owns the Moorebank Intermodal Terminal in Sydney.[22]
Locomotive fleet
As at October 2025, Qube owned the following locomotives:[23]
| Owned Fleet | |||||
|---|---|---|---|---|---|
| Class | Image | Number in class | Built | Numbers | Notes |
| 1100 class |  |
8 | 2011-2012 | 1101-1108 | New Build, 4 additional units (1109-1112) ordered but never delivered, sold to White Pass & Yukon Route. |
| 14 class |  |
12 | 1972–1974 | 1427-1429, 1431-1433, 1435, 1437, 1440, 1443, 1445, 1446 | Ex Independent Rail of Australia. |
| 44 class |  |
4 | 1961–1967 | 4458, 4477, 4488, 4497 | Ex Independent Rail of Australia and P&O Trans-Australia, all stored. |
| 442 class |  |
1 | 1971–1972 | 44202 | Ex Independent Rail of Australia, stored. |
| 80 class |  |
3 | 1980–1983 | 8030, 8037, 8044 | Ex Coote Industrial. |
| 830 class |  |
2 | 1963-1966 | 864, 872 | Ex Greentrains #864 + 872. |
| G class |  |
2 | 1984-1989 | G521, G532 | Ex SCT Logistics #521 + 532. |
| GML class |  |
1 | 1994 | GML10 | Ex Comalco, Leased to Watco Australia. |
| QBX class |  |
6 | 2015 | QBX001-QBX006 | New Build. |
| QE class |  |
6 | 2023 | QE001-QE006 | New Build. |
| QL class |  |
20 | 2021-2023 | QL001-QL020 | New Build. |
| RL class |  |
3 | 2005-2010 | RL303, RL309, RL310 | Ex P&O Trans-Australia. |
| Leased fleet | |||||
| CF class |  |
10 | 2012-2025 | CF4404, CF4405, CF4406, CF4407, CF4411, CF4412, CF4420, CF4421, CF4422, CF4423 | Leased from Rail First. |
| G class |  |
5 | 1984-1989 | G512, G515, G526, G530, G538 | G512 and G515 leased from Rail First.
G526, G530 and G538 leased from Pacific National. |
| MRL class |  |
6 | 2013-2014 | MRL001-MRL006 | Least from Southern Shorthaul Railroad. |
| VL class |  |
4 | 2007-2009 | VL351, VL353, VL356, VL357 | Leased from Rail First. |
Strategic Assets
The Strategic Assets business is responsible for the development of expansion projects and investments. These include:
- Moorebank Intermodal Terminal
- Minto Intermodal Terminal (acquired June 2012 and included the assets of Independent Rail of Australia.[24]
- Quattro Grain Terminal (Port Kembla)
- TQ Bulk Liquids Terminal (Port Kembla)
- AAT Facilities Management
- Newcastle Agri Terminal, acquired September 2021[12][13]