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Tag Archives: Melbourne

Details of Port of Melbourne privatisation plan announced

The Port of Melbourne is being fought over in the State parliament
Credit: David Wallace

The Government of the State of Victoria in Australia has released details of the plan to privatise the Port of Melbourne, which will be voted on by the state parliament. The bill specifies that the port will be leased to private interests for 50 years and that the government expects to raise AU$5bn (US$3.85bn) to AU$6bn (US$4.63bn). Under the proposals, ... Read More »

DP World seeks to challenge 750% rent hike at Port of Melbourne

An independent valuer will handle the rent dispute at the Port of Melbourne

DP World plans to apply to Australia’s National Competition Commission (NCC), hoping to tackle the proposed rent increase of more than 750% at the container terminal it operates in Melbourne. Paul Scurrah, the CEO of the Dubai-based company’s Australian business, confirmed that the firm aims to introduce the Australian Competition and Consumer Commission (ACCC) as the arbitrator of future fee ... Read More »

DP World faces huge rent increase at the Port of Melbourne

The Port of Melbourne have proposed a huge rent increase

The Port of Melbourne Corporation has notified DP World Australia that it wants to increase rent at the West Swanson terminal it operates by over 750%. DP World’s rent would rise from AU$4m (US$3m) a year in 2014 to AU$31m (US$24m)  a year from 1 January 2015 and AU$60m (US$47m) from 1 July 2016. It was notified of the increase on ... Read More »

Three investors set to bid for Port of Melbourne

The Port of Melbourne is in the process of privatisation

Three infrastructure funds plan to bid for the Port of Melbourne, according to an anonymous source who Reuters said has knowledge of the bidding process. The sale is estimated to be set to raise A$5bn (US$4.3bn) for the State of Victoria. The likely bidders are: pension fund IFM Investors; QIC Ltd and a consortium comprising Hastings Funds Management and Wren ... Read More »