Market insight: DP World's Kenya deal – a hornet's nest?
One hellvua supply chain scrap could be shaping up
Trouble is brewing in Melbourne, where the local government is seeking to lease the entire port authority on a long-term basis in the hope of raising some A$6bn. However, part of that valuation rests on its proposal to raise terminal rents of incumbent operators DP World and Asciano by around 750%. Yep, seven hundred and fifty per cent! Which in turn has prompted the box operators to go to the Australian Consumer and Competition Commission to complain of an abuse of power by the state-owned body, and it has led the country’s leading carrier, CMA CGM-owned ANL to threaten to leave the port altogether. It’s a complicated story, but apparently. Melbourne Port Corporation officials saw the higher rent that third operator ICTSI is set to pay and mistakenly thought it could be applied to the rest of the port. At stake for the wider society is a raft of transport infrastructure improvements.
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