Port of Melbourne up for sale?

The Australian State Government of Victoria is examining “strategic and commercial options” for its port facilities, which could see the privatisation of the Port of Melbourne, the country’s busiest container port, along with the proposed Port of Hasting development.

Reports in the Australian media and from the financial world, quote the state treasurer Michael O’Brien during a radio interview, in which he highlighted the fact that last year’s A$5.1bn (US$4.56bn) sale of Port Botany and Port Kembla by the New South Wales state as an example of the strong demand for port infrastructure.  He hinted that the Melbourne sale could be completed within 18 months.

The Port of Melbourne, which is ranked 53rd in the CM  ‘2013 World Top Container Ports’, handled 2.51m teu in its full financial year to 30 June 2013.  The port’s current A$1.6bn (US$1.4bn)  ‘Port Capacity Project’ will deliver the ‘backbone’ infrastructure necessary to develop a third international container terminal and a world class import/export automotive facility within the port’s Webb Dock.