This comes after the Australian Competition and Consumer Commission (ACCC) raised concerns over the AUS$6bn port lease.<\/p>\n
The Essential Services Commission (ESC) will carry out a periodical review, while the Port Leaseholder will also be required to offer a market standard rent review mechanism with dispute resolution to any new tenants or renewing tenants.<\/p>\n
Tim Pallas, treasurer, Victorian Government, said: \u201cWe have listened to and sought to positively address the matters discussed with the ACCC, and the measures announced will provide even more protection for competitive outcomes.\u201d<\/p>\n
\u201cThis Government believes that maximising the use of the Port of Melbourne is the best way to keep port costs down over time, which will be good news for the Victorian economy,\u201d he added.<\/p>\n
Now, the Victorian Government is working to provide a framework around the lease that ensures strong competition and better outcomes. These measures are on top of those already announced which include the lease not including any rights to develop a second port, retaining the ESC as the economic regulator with a substantially strengthened economic regulatory regime and introducing non-discriminatory pricing rules for the shared channel to the Port of Geelong.<\/p>\n
In addition, a CPI price cap on port charges will be added for a minimum of 15 years, while prices on loaded international container export charges have been frozen and will be gradually reduced over the next four years to end up 22% lower than equivalent import charges by 2020.<\/p>\n
Melbourne is Australia\u2019s largest container port, handling 2.5 million teu, with a throughput of 35 million tonnes in 2014.<\/p>\n
Webb Dock is currently being redeveloped as part of the AUS$1.6bn port capacity project, which will see a third international container terminal added as well as an automotive terminal and pre-delivery inspection hub. The expansion is set to be complete by 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Port of Melbourne\u2019s new owners are set for regular reviews to ensure they do not \u201cmisuse their power\u201d to drive up port rents.<\/p>\n","protected":false},"author":8,"featured_media":4223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26],"tags":[],"sponsor":[],"class_list":["post-4222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oceania"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/4222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=4222"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/4222\/revisions"}],"predecessor-version":[{"id":4224,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/4222\/revisions\/4224"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media\/4223"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=4222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=4222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=4222"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=4222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}