The ACCC has released its annual Container Stevedoring Monitoring Report 2018-19, which examines the performance of stevedores operating at Australia’s ports during the last financial year. Among the key findings of the report:
- A general weakening of the economy has seen demand for stevedoring services decline, evidenced by a drop in crane lifts for only the second time in a decade;
- Higher infrastructure charges are driving unit revenue growth for the stevedores. The industry generated $167 million in revenue from infrastructure charges last financial year – an increase of 63 per cent;
- Some industry profitability indicators fell in 2018-19, continuing a trend from recent years. Industry operating profit fell by 4.7 per cent to $81.3 million and operating profit margin fell to 5.9 per cent; and
- Key indicators of quayside productivity went up by more than 5 per cent, with the productivity of Australian container ports now on par with international ports of similar size and characteristics.
Click here for more information and to download the report.
Courtesy of the Australian Competition and Consumer Commission.