A "secret deal" between the New South Wales (NSW) government and port owners is stopping the Port of Newcastle from developing a container terminal and pushing up consumer prices, according to Australia’s NSW state government opposition.
Port of Newcastle plans to continue its fight to win funding and establish a container terminal, following news that the Australian government will fund rail expansion at Port Botany.
The newly-appointed chairman of the Port of Newcastle Board has said that the port's reliance on coal - which accounts for 90% of its business - as its core cargo puts the facility at financial risk.
Commodity trading and mining company Glencore has won its case to overturn large increases in port access charges at the Port of Newcastle, the biggest port on Australia’s east coast.
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