I previously held QUB.It is an extremely well run business with...

I previously held QUB.

It is an extremely well run business with the CEO promoted from within, and as a 20 year veteran he may have joined QUB straight from university.

Agree QUB is a competitor to GNC. QUB has its own fleet of rail locomotives though sometimes uses a contractor, Rail First Asset Management as QUB doesn't appear to have sufficient locos at present.

Not everything QUB does is successful: it started three return per week intermodal trains between Melbourne and Sydney but recently ceased them, as competition from road transport (none of whom pay the road equivalent of rail's t6rack access charges) was intense.

However in grain, QUB is doing well.. It has established beacheads at strategic locations such as Coonamble in NSW, the terminus of a well used branch line from Dubbo.

QUB also owns 50 per cent of port operator Patrick, and may well one day increase this to 100 per cent as Brookfield of Canada might exit. So it's simple for QUB to establish grain handling at ports (assuming there's some spare land suitable for berths: perhaps not, I am no expert).