Competition Council News

Glencore Calls for Price Regulation in Newcastle Port

Coal mining giant Glencore has now applied to have the competition watchdog oversee pricing in the  newly privatised Port of Newcastle, reports  The Sydney Morning Herald. The NSW port is hiking some shipping charges up to 60 percent after its $1.75 billion privatisation last year. Glencore has made the application to the National Competition Council, describing the shipping channels in the Port of Newcastle as a natural 'bottleneck' monopoly. This pitch for Australian Competition and Consumer Commission (ACCC) protection comes as management of Victoria's Port of Melbourne stares down a similar threat of declaration under national competition law…