News / Australian stevedores getting richer, but customers seeing poorer service

Controversial terminal access charges have again helped Australia’s stevedores to increase revenue and profit margins, despite the largest volume drop in a decade.

The country’s four major terminal operators handled 7.57m teu during the financial year ending 30 June, down 4%, according to the Container stevedoring monitoring report 2019-20, published today by the Australian Competition and Consumer Commission (ACCC).

However, the report found industry revenue increased 2.8%, to A$1.42bn (US$1bn), with revenue per lift up 7.5% and profit margins up 9.9% – ...