National Intermodal Corporation Limited

What National Intermodal Corporation Limited does

National Intermodal Corporation Limited is an Australian Government-owned infrastructure developer that builds and operates intermodal freight precincts across the eastern states of Australia. The company co-locates rail, road, and warehousing functions within large-scale precincts to enable modal shift from road to rail freight, with stated targets of removing 167,000 annual truck trips and 12.1 million tonnes of CO2 over 25 years. Its three flagship precincts are Moorebank in Sydney (240+ hectares), Beveridge in Melbourne (900 hectares), and a protected Brisbane site intended to complete the eastern-seaboard network.

The company operates under an explicit open-access framework that provides independent, non-discriminatory terminal access to all industry participants, distinguishing it from proprietary terminal operators such as those run by Aurizon or global stevedores. Technical features include double-stack container handling engineered to receive 1,800-metre Inland Rail trains, and precincts designed to incorporate automation, robotics, and AI-enabled warehousing. Revenue is generated through a combination of infrastructure development, leasing of co-located warehousing, and transaction-fee terminal operations. FY25 reported net profit of $18 million AUD and $45 million of share-of-profit from equity-accounted investments, with net assets of $977 million AUD (+12% YoY).

Commercial partners include Qube, ESR, Aurizon, and John Holland Group, with foundation customers and anchor tenants such as Kmart Group (committed to a 100,000 sqm fulfilment centre at Moorebank, scheduled late 2027) and Aurizon. The company won the 2024 Boomtown Project of the Year and Outstanding Freight & Commercial Project awards. Leadership comprises CEO James Baulderstone, reappointed Board Chair Erin Flaherty (June 2026, two-year term), and Director of Communications Julia Lefort.

Name

National Intermodal Corporation Limited

Legal name

National Intermodal Corporation Limited

Website

https://nationalintermodal.com.au

Company type

Private

Operating status

Operating

Short description

National Intermodal Corporation Limited is an Australian Government-owned developer of intermodal freight precincts and open-access rail terminals across eastern Australia, serving rail freight operators, logistics companies, and large retailers such as Kmart with co-located warehousing and terminal infrastructure.

Ownership category

akta.pro rank

Product category

Intermodal Logistics Infrastructure

NAICS

Rail Transportation (482), Freight Transportation Arrangement (488510)

SIC

Railroad Switching & Terminal Establishments (4013), Transportation Services (4700)

akta.pro primary industry

Intermodal Terminal Operations (Rail–Truck) (TLAJAFAA)

akta.pro secondary industries

Intermodal Terminal Operations (Rail Ramps/Port Intermodal Yards) (TLADAFAE), Intermodal Network Operators & Marketing Companies (IMCs) (TLADAFAF), Intermodal Terminal Value-Added Services (Cross-Dock, Transload, Stuffing/Stripping) (TLAJAFAL)

Keywords

• Intermodal freight terminals
• Rail logistics infrastructure
• Freight precinct development
• Open access terminals
• Intermodal precinct operations

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain

Revenue model

1. Infrastructure Development and Leasing: Development of intermodal logistics infrastructure with co-located warehousing facilities leased to commercial operators and tenants
2. Open Access Terminal Operations: Providing independent terminal access to rail freight operators and logistics companies

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

National Intermodal develops and operates large-scale intermodal freight precincts combining rail, road and sea transport interfaces with co-located warehousing facilities across eastern Australia. The company provides open access terminal infrastructure, leasing of warehousing, and rail marshalling services to rail freight operators, logistics companies and industrial tenants under a partnership and co-investment model.

Product overview

National Intermodal Corporation Limited operates as an Australian Government-owned independent developer of critical logistics infrastructure, building a network of intermodal precincts across the eastern states of Australia. The company's portfolio consists of three core intermodal precincts: Moorebank Intermodal Precinct (Sydney) as Australia's largest modern integrated supply chain logistics hub spanning over 240 hectares; Beveridge Intermodal Precinct (Melbourne) at 900 hectares as the southern endpoint of Inland Rail with construction commenced for Stage 1 targeting mid-2028 operations; and Brisbane Intermodal Precinct protecting location for terminals in South-East Queensland. All precincts co-locate transport modes with large-scale warehousing and efficient road and rail interfaces, featuring open access arrangements for independent, non-discriminatory use by all industry participants. The company also facilitates associated services including rail operations, road freight, and warehousing opportunities at these precincts.

Differentiator

Problem solved

Functional benefit

Products and services

• Moorebank Intermodal Precinct Australia's largest modern integrated supply chain logistics precinct located 32km from Sydney's CBD, covering over 240 hectares in South-west Sydney. Features an import/export rail terminal in the east and an interstate rail terminal in the west, and is designed for open access use by rail freight operators and co-located automated warehousing tenants such as Kmart Group.
• Beveridge Intermodal Precinct 900-hectare intermodal precinct at Beveridge in Melbourne's northern growth corridor, serving as the southern endpoint of Inland Rail. Stage 1 will deliver terminal infrastructure capable of processing 200,000 TEU per annum with a full integrated 500,000 TEU capacity terminal planned for 2028-29. Designed for double-stacked 1,800-metre Inland Rail trains and co-located automated warehousing.
• Brisbane Intermodal Precinct Protected location for intermodal terminals in South-East Queensland to support the potential re-activation of Inland Rail, with consideration for interim logistics activities in the interim period.
• Open Access Intermodal Services Open access arrangements ensuring independent, non-discriminatory access for all industry participants to use National Intermodal's intermodal infrastructure, enhancing competition in the rail freight sector across all three precincts.

Quantifiable outcome

• Rail freight produces 16 times less carbon pollution than road
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• John Holland GroupcoreImplementation/ SI/ Consulting Partner · 11 December 2025John Holland Group appointed as main contractor for Stage 1 design and construction of Beveridge Intermodal Precinct. Stage 1 will deliver access into the Inland Rail south network and rail marshalling and terminal infrastructure capable of processing initial capacity of 200,000 TEU per annum.
• QubecoreStrategic or Co-development PartnerQube is a partner in the Moorebank Intermodal Precinct development alongside National Intermodal and ESR, working on Australia's largest intermodal precinct.
• ESRcoreStrategic or Co-development PartnerESR is a partner in the Moorebank Intermodal Precinct development alongside National Intermodal and Qube, providing logistics real estate expertise.
• AurizoncoreStrategic or Co-development PartnerAurizon participated in successful operational trial at Moorebank Interstate Terminal as a foundation customer through a Memorandum of Understanding with National Intermodal.

Scale indicators12 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Pacific National: Australia's largest private rail freight operator, providing intermodal, bulk, and coal haulage services. Pacific National is a direct peer as a competing intermodal rail operator that uses and competes for access to terminal infrastructure across eastern Australia.
• ESR Group: Asia-Pacific logistics real estate platform with significant Australian presence. ESR is a direct peer through its partnership at Moorebank and similar business model of co-locating large-scale warehousing with transport infrastructure for enterprise customers.
• Goodman Group: Global industrial property specialist with major Australian logistics estate portfolio including Business Parks co-located with transport nodes. Goodman is a direct peer in providing large-scale automated warehousing and industrial facilities to enterprise logistics customers.
• Aurizon: Australia's largest rail freight operator and a foundation customer at Moorebank Interstate Terminal. Aurizon is a direct peer/customer in the intermodal value chain, operating Queensland and New South Wales rail networks that rely on terminal access infrastructure.
• SCT Logistics: Australian intermodal rail freight operator running services between Melbourne, Sydney, Brisbane, and Adelaide, with own terminal operations. SCT is a direct peer competing in eastern-seaboard intermodal rail and a potential customer for National Intermodal's open-access terminals.
• Qube Holdings: Australia's largest integrated import-export and intermodal logistics provider, operating terminals and rail freight services. Qube is a direct peer as a co-developer at Moorebank and a competing intermodal operator in eastern Australia, with overlapping customer base and parallel terminal strategy.

Broad incumbents

• Toll Group: Asia-Pacific logistics provider offering road, rail, sea, and air freight, plus contract logistics and warehousing. Toll is a broad incumbent in integrated logistics with comparable warehousing-and-transport co-location plays and similar enterprise customer base.
• DP World: Global port operator and supply chain solutions provider with Australian operations including container terminals in Melbourne, Sydney, Brisbane, and Fremantle. DP World is a broad incumbent in intermodal/port operations, with overlapping capability in container handling and integrated logistics infrastructure.
• Prologis: Global leader in logistics real estate operating more than $250B of industrial property. Prologis is a broad incumbent providing large-scale automated warehousing facilities and is a direct comparable for the warehousing portion of National Intermodal's precincts.

Emerging players

• Genesee & Wyoming (now GWI/Genesee & Wyoming Inc.): Global operator of short-line and regional railroads with intermodal terminals across multiple continents. GWI is an emerging/broad player providing intermodal terminal operations and short-haul rail services comparable to the terminal operation component of National Intermodal's business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/national-intermodal

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Intermodal Corporation Limited