Statement on Port of Newcastle

"Port of Newcastle (PON) welcomes the revocation of the declaration of service at the Port of Newcastle.

"PON has long maintained the view that the Port should never have been declared and that the NCC's original position in 2015 was sound.

"The NCC's recommendation was founded on robust legal and economic arguments for its position, and the NCC stuck to its guns in the face of some considerable pressure from other parties.

"This is a victory for a common-sense approach to regulation. The outcome is consistent with the intent of the legislation as originally envisaged by the Productivity Commission and re-endorsed by the Australian Parliament in 2017."

Read the article online at: https://www.drybulkmagazine.com/ports-terminals/25092019/statement-on-newcastle-port/