VICT reaches 5m TEU
NewsVictoria International Container Terminal, ICTSI’s fully automated container handling facility at the Port of Melbourne, has reached five million TEU.
DPW loses Adelaide
DP World has lost its Australia-wide container terminal coverage after South Australian ports leaseholder Flinders Ports exercised pre-emptive rights to acquire DP World’s shares in Port Adelaide’s container facility.
The forced sale was triggered by DP World’s decision to offload 75% of its Australian operations to Citi Infrastructure Investors late last year in a deal valued at A$1.5B. Flinders Ports, which is now itself fully controlled by a group of superannuation funds, acquired DP World’s 60% Adelaide stake for an undisclosed price on 1 July. It immediately renamed the facility Flinders Adelaide Container Terminal (FACT).
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This complete item is approximately 200 words in length, and appeared in the July 2012 issue of WorldCargo News, on page 7. To access this issue download the PDF here.
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