Bright Future for Australian Ports
- Business & Finance
2013 has been a landmark year for the Australian waterfront. It saw a third container stevedore enter the market in Brisbane and Sydney, and the Port of Melbourne Corporation begin its selection of a company to build and operate a third international container terminal.
The New South Wales Government finalised the sale/ long term lease of ports of Botany and Kembla, and also decided to follow a similar path with the Port of Newcastle.
The ACCC’s annual review released in late last year (7 November 2013) noted: “In 2013, quayside reform is being driven by investment in existing terminals and new terminal operator being added at several ports. New terminal operators should bring added benefits of more aggressive industry competition by delivering greater choice for shipping line customers and forcing all players to offer their most attractive terms and conditions to retain and secure new business. Increased competition, in this way, is expected to drive future improvements in productivity and deliver better quayside service to customers.”
“I believe that Hutchison Port Holdings’ Australian team has been an integral part of this seismic shift in a market. Previously the Australian container stevedore market was the sole province of two companies effectively competing to win an extra 5 per cent of the market. Now it is one in which three companies vie for shipping line business,” said dr. Stephen Gumley, AO, Chief Executive of Hutchison Ports Australia.
Press Release, February 3, 2014