The federal court yesterday dismissed the ACCC’s action against the legality of the Port’s sale, where contracts included a clause that capped the number of containers the Port could move and financially penalised the Port if they breached the cap.
The deal effectively removes the Port’s ability to diversify and future-proof by decreasing the viability of their long-planned development of a deepwater container terminal.
The decision has caused ripples throughout the political divide. Newcastle MP Tim Crakanthorp joined Tracy Mac on Newcastle Live Radio to discuss.
