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Friday, November 18, 2005

ACCC flags more waterfront competition.

ACCC flags more waterfront competition. 18/11/2005. ABC News Online

The Australian Competition and Consumer Commission (ACCC) has issued this year's report on the costs and profitability of the nation's major ports.

It is the seventh annual report that monitors the progress of waterfront restructuring at Australian container terminals.

ACCC chairman Graham Samuel says there has been an increase in revenue and costs, but productivity is flattening out.

Mr Samuel says the historically high rate of return on assets in the past five years suggests there could be room for a third competitor in the industry.

"Where you've got an average rate of return on assets of almost 26 per cent you need to compare that, for example, with the average rate of return on assets to the top 200 companies on the Australian stock exchange of around 9 per cent," he said.

"I think we've expressed the opinion that if competition in Australian container stevedoring were effective then such rates of return would be unlikely to persist."

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