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Thursday, May 30, 2024
Home Port News No deal between Port of Newcastle & DP World Australia

No deal between Port of Newcastle & DP World Australia

A DEAL between the Port of Newcastle and container terminal operator DP World Australia has broken down, with DP World understood to be talking with the owner of Port Botany and Port Kembla about a rival terminal at Wollongong.

Although DP World has signaled that negotiations ended because its investigations showed the Newcastle proposal was uneconomical, Port of Newcastle is taking a more optimistic view of the split, saying it is now able to talk to other operators.

Supporters of the Newcastle plan also say DP World’s move can also be interpreted as a sign that vested interests in Sydney recognise the competitive threat of a Newcastle terminal, and are trying to white-ant it to preserve the status quo.

Confirming the decision to go their separate ways, a DP World spokesperson said: “We can confirm that we have ceased engagement with the Port of Newcastle.

Read more on Newcastle Herald.

 





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