TasRail chief executive Steven Dietrich in the report said the state-owned company earned $2.5 million in revenue over the financial year from increased forestry and shiploading volumes.

He said aside from the direct financial impacts of the derailment, the incident meant the company could only achieve a modest $185,000 profit.

"The incident was very serious and remains subject to several investigations," Mr Dietrich said.

Another derailment was recorded at Conara.

There was an increase of 20 per cent in the volume of logs transported along the state's rail network over 2018-19 though slight declines in other commodities.

Mr Dietrich said the company expected log haulage volumes to increase in the future.

There were 85 incidents where motorists failed to stop or give way at level crossings in 2018-19, which was higher than the previous two years.

This resulted in two collisions with trains.

There were 19 incidents related to animal collisions with trains.