Port Of Melbourne Corporation News

Victoria International Container Terminal (VICT) recently celebrated the completion of its terminal in Webb Dock in Melbourne, Australia ahead of schedule. The celebration was headed by Enrique K. Razon Jr., International Container Terminal Services, Inc. (ICTSI) Chairman and President, along with His Honor Luke Donnellan, Victoria State Minister of Ports; Councillor Bernadene Voss, Port Phillip City Mayor; and Brendan Bourke, Port of Melbourne CEO. “This is an achievement that everyone who have helped build the terminal and are invested in the success of the State of Victoria should celebrate,” said Mr. Razon as he addressed VICT employees, VIPs and guests. “Once we start operations in January, VICT will be the most technologically advanced container terminal in the world,” he adds.

Melbourne International RoRo & Automotive Terminal (MIRRAT) will officially open at Webb Dock West in Melbourne on the 10th April, 2016. MIRRAT is dedicated to providing best in class terminal services to the Automotive and RoRo markets in Melbourne by providing efficient, innovative and sustainable solutions to our customers. As part of Port of Melbourne Corporation’s port capacity project, MIRRAT was awarded the rights to design, construct and operate the new RoRo & Automotive Terminal at Webb Dock West. This was a unique opportunity to build a world-class purpose built facility to support the shipping industry and all users of the terminal.

The Opposition Leader Matthew Guy says that critical laws to maximise the value of the lease of the Port of Melbourne are set to finally pass the state parliament this week, reports The Age. The Coalition has used their numbers in the upper house to force a series of amendments to the governments proposed legislation to sell the port. Governments have been considering incentives to tempt the highest possible price from potential buyers of assets, including non-compete clauses that prevent competing infrastructure from being built in the future close to the asset being sold. The sale of the Port of Melbourne has been delayed by debate in the Victorian government over clauses that would force the government to make compensation payments to the eventual buyer if another port is developed.

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…

The Port of Melbourne Corporation has told DP World Australia that it wants to increase rent at the terminal by up by 800 per cent of the current amount, reports local media. It also comes as the Victorian government prepares the Port of Melbourne for sale. The move by the Victorian Government has sparked warnings of job cuts as well as economic damage to the state. The trucking industry fears it may have to carry much of the weight of the possible hefty rent hike. The port currently charges about $40 million dollars a year in rent to DP World and Asciano. It is understood that DP World has previously paid about $16 per square metre and the increase will take it to $120 per square metre.

Wallenius Wilhelmsen Logistics (WWL) says that its subsidiary MIRRAT has been announced as winner in its bid to operate automotive terminal 'Melbourne Australia'. Port of Melbourne Corporation (PoMC) have selected Melbourne International Ro-Ro Automotive Terminal (MIRRAT) for the development of the automotive and Roll-On Roll–Off (RoRo) terminal in Webb Dock West. WWL explains that a world class terminal for the Webb Dock West project will benefit Melbourne, and ultimately support stronger trade through the Port of Melbourne for the Automotive and RoRo industries. “We are delighted that WWL has been afforded this opportunity in Melbourne.

Philippine-based International Container Terminal Services Inc (ICTSI) said on Friday its Australian unit would invest up to A$548 million ($508 million) to build and operate port facilities in Melbourne. ICTSI told the Philippine Stock Exchange its Victoria International Container Terminal Ltd unit signed a 26-year contract with the Port of Melbourne Corporation to build, operate and finance a terminal and container park in the city, Australia's largest hub for containerised cargo. The investment in the terminal development is estimated at A$439 million for the first two phases, which will be operational by 2017. Further investments of A$109 million are likely to increase capacity, ICTSI said.

Philippine-based International Container Terminal Services Inc (ICTSI) said on Friday its Australian unit would invest up to A$548 million ($508 million) to build and operate port facilities in Melbourne. ICTSI told the Philippine Stock Exchange its Victoria International Container Terminal Ltd unit signed a 26-year contract with the Port of Melbourne Corporation to build, operate and finance a terminal and container park in the city, Australia's largest hub for containerised cargo. The investment in the terminal development is estimated at A$439 million for the first two phases, which will be operational by 2017. Further investments of A$109 million are likely to increase capacity, ICTSI said.

The Australian State of Victoria's Minister for Ports informs that Nick Easy has been appointed as CEO of the Port of Melbourne Corporation. Port of Melbourne Corporation Chairman Mark Birrell said that the Port of Melbourne Board undertook an extensive recruitment and selection process and was very pleased to recommend Nick Easy to the Victorian Government for appointment. “The Board looks forward to Nick commencing in the role and provide strong leadership to the Corporation at this important time for the Port of Melbourne,” Mr Birrell said.

Royal Boskalis Westminster N.V. (Boskalis) wins dredging contracts with a combined contract value of approximately EUR 70 million. In Melbourne, Australia, Boskalis has been awarded the dredging contract for maintenance dredging. The contract was awarded by the Port of Melbourne Corporation and is for a period of four years with two options for extension, each of three years. The dredging activities, which are to commence in March 2013, relate to the maintenance of the port basin and sections of the 60 kilometers access channel. For this project a medium-sized trailing suction hopper dredger and a backhoe will be deployed for the dredging and capping of the sediment. The port of Melbourne is the largest container and cargo port in Australia.

An updated IBISWorld market research report reveals opportunities for growth in Australian port trades. According to IBISWorld industry analyst Caroline Finch, “IBISWorld forecasts compound annual revenue growth of 2.3% over the five years through 2012-13”. In the current year, the industry is expected to grow 7.0% to reach $3.39 billion. The report indicates that atrong growth in the value of total merchandise trade has been the primary driver behind the Port Operators industry's solid performance over the past five years. The value of merchandise trade exports has grown faster than the value of merchandise trade imports because of high demand for commodity exports. As more cargo moved through Australia's ports, the industry gained more opportunities to charge for its port services.