12 Dec Newcastle Container Terminal to Boost Regional Capacity
The recent passing of the Port of Newcastle (Extinguishment of Liability) Bill 2022 in NSW Parliament, which lifts the cap on container throughput, has brought a Newcastle-based container terminal to fruition.
This recent bill aims to undo a 2013 deal that capped the number of containers Port of Newcastle could handle before having to pay a fee on every unit exceeding the limit; a fee which would’ve been collected by the state government and paid to NSW Ports as compensation.
Under the amended bill, the Port of Newcastle would be required to pay the difference between the original cost of the lease and the cost of the lease if it was sold without the financial penalty on container throughput above a certain amount (the difference which is to be independently ascertained).
This container terminal represents a significant and positive step towards the growth and diversification of Newcastle and other regional and rural NSW areas as it forms a crucial part of a stronger supply chain that can be leveraged by all industries from manufacturers through to agri-business and more.
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Yours sincerely,
Rachael Budd & The Transolve Global Team
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