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Australia's Port of Newcastle faces competition hurdle after court ruling, watchdog says

( June 29, 2021, 01:13 GMT | Official Statement) -- MLex Summary: Australia's Port of Newcastle will face "an enormous hurdle" to develop a container terminal to compete with Port Botany and Port Kembla, the country's competition watchdog has said following a Federal Court of Australia judge's dismissal of the regulator's antitrust lawsuit against Port of Newcastle rival NSW Ports Operations. In a statement following the court ruling, Rod Sims, the chairman of the Australian Competition & Consumer Commission, said that without a new entry, NSW Ports will have an effective monopoly in moving containers in the eastern Australian state of New South Wales for 50 years. Sims added that the ACCC will carefully consider the judgment when it is made public.The full statement from the Australian competition watchdog follows: ...

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