Melbourne Port News

An Australian port and a stake in the Empire State Building's operator were among assets acquired by sovereign investors such as wealth funds and state pension funds in the third quarter of 2016, with deals totalling $21.2 billion. The combined value of deals was up 38 percent from the previous quarter, helped by a handful of jumbo-sized transactions in the infrastructure, energy and real estate segments, although the number of direct investments fell to 35 from 43 in the second quarter, according to data from Thomson Reuters.

DP World and the Port of Melbourne Corporation have reached an agreement on a new 50-year lease, ending months of negotiation over rental increases at Australia’s biggest port. The Port of Melbourne will forego tens of millions of dollars in annual revenue after abandoning a 750 per cent rent increase for DP World Australia and accepting price rises a tiny fraction of that amount. DP World Australia, in which the Dubai-based ports operator has a 25 per cent stake, will run the West Swanson Terminal in the Port of Melbourne up to 2065, with known fixed increments over 13 years, DP World Australia and Port of Melbourne said. The agreement clears uncertainty surrounding the $6 billion privatisation of the port and enables bidders to put a more accurate value on the port…

Victoria International Container Terminal Ltd (VICT) has chosen to implement the wide range of port community solutions that 1-Stop Connections (1-Stop) have to offer. 1-Stop is already the system of choice at the Port of Melbourne, where the terminal and logistics community have benefited over the years from 1-Stop’s port community solutions. This recent signing between 1-Stop and VICT will result in continual productivity improvements and optimised operations for the future. VICT’s CEO, Anders Dømmestrup says, “We wanted an efficient, effective and easy-to-use solution to service the Melbourne port community, which could be implemented seamlessly to match our go-live by the end of 2016. Mr.

The new generation of giant container ships will be able to access Melbourne's port within three years under plans released yesterday by the Bracks Government to deepen the channels leading to the city's docks, the Australian reported. But figures released along with an environmental effects statement reveal the cost of the dredging project has blown out from $545 million to at least $763 million. And Treasurer John Brumby refused to say how much of the burden would be borne by taxpayers and how much by cargo exporters through a proposed increase in the container levy. Shallow areas in the mouth of Port Phillip Bay, the mouth of the Yarra River and the shipping channel between the two prevent about 25per cent of container ships using the port or loading to full capacity.

According to The Age, increased security patrols around Melbourne Port and a 24-hour control center for the Yarra River feature in security and operational plans for Melbourne's waterways during next year's Commonwealth Games. Details have emerged as the Federal Government begins its race against the clock to complete security checks on port workers and users who need access to secure areas during the Games. The issuing of 140,000 identification cards to maritime workers is one of the Government's key initiatives for national security, and is scheduled to be completed by January 2007. The port will continue operating during the Games, with security agencies planning patrols by water police. Special underwater capabilities and police divers will be available.

A French-registered bulk carrier carrying a load of grain from Geelong to Taiwan ran aground in Melbourne's Port Philip Bay on Thursday night, an Australian maritime authority said on Friday. The fully laden 18,600-ton bulk carrier Mirande ran aground just before 10 p.m. on Thursday after reporting steering problems, said the Marine Board of Victoria. "There is no environmental problem, no damage to the hull, the weather is favorable, the ship is in sheltered waters and is sitting on sand," a Marine Board chief executive said. An unsuccessful attempt to refloat Mirande, which has a crew of 18, was made at high tide on Friday morning and another attempt will be made at the night high tide, which is forecast to be at around 9:00 p.m.

The French-registered bulk carrier Mirande is expected to remain under detention until Monday as Australian maritime authorities conduct seaworthiness checks on the ship that was refloated on Friday after running aground. "We've had divers inspect the hull, and we have surveyors still on board, but there are still problems with the steering gear and it's still detained," David Gray, spokesman for the Australian Maritime Safety Authority said. The fully laden 18,600-ton Mirande was carrying grain from Geelong to Taiwan when it went aground on mud in Melbourne's Port Philip Bay on Thursday after reporting steering problems. The vessel with a crew of 18 was refloated late on Friday.