Port of Newcastle’s fee hikes curtailed

Port of Newcastle’s fee hikes curtailed

Commodities giant Glencore is celebrating a verdict from Australia’s Federal Court that will see the local competition watchdog regulate port charges for coal exporters from Newcastle.

Glencore had been fighting the port of Newcastle’s decision to raise fees by more than 60%.

The port is the largest coal export facility in the world and has been owned by Westpac Banking Corp’s Hastings Funds Management and China Merchants since 2014.

“The introduction of a reasonable regulatory constraint is critical for all users of monopoly owned infrastructure,” Glencore said in a statement.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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