On Monday, October 8, Australia’s competition regular declared that Port of Newcastle Operations (PNO) must reduce its charges for ships entering the port to carry coal for global miner Glencore, Reuters reported.
The Australian Competition and Consumer Commission (ACCC) stated that PNO should cut its current rate by about 20%. According to Reuters, the port said it would contest the decision.
“PNO proposed large increases to the current price, but the ACCC found that a reduction in the price for using the shipping channel was appropriate,” ACCC Commissioner Cristina Cifuentes said in a statement.
The port stated it was disappointed by the decision. “We will use all legal avenues available to contest the decision. We will be lodging a request for review with the Australian Competition Tribunal,” it stated.
Full Content: Reuters
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