Monopoly

How a 1979 Korean shipping decree sparked outrage from US shippers

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-6’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-6’); });

FreightWaves Classics is sponsored by Old Dominion Freight Line — Helping the World Keep Promises....

https://www.freightwaves.com/news/how-a-1979-korean-shipping-decree-sparked-outrage-from-us-shippers

Port of Newcastle container terminal bill passes through both the lower and upper house

Pictured: the Port of Newcastle at Walsh Point on the Hunter River. Picture supplied by the Port of Newcastle.

A controversial Bill that could remove a financial penalty imposed on the Port of Newcastle, which prevents it from developing a container terminal, will now pass into law.

It’s been a fast-moving week in the NSW Parliament, with the “Port of Newcastle (Extinguishment of Liability) Bill 2022“, being substantially re-written by the NSW State Government, then passed in the Lower House...

https://www.shippingaustralia.com.au/port-of-newcastle-container-bill-passes-lower-house/

FreightWaves Classics/Leaders: J.P. Morgan controlled US railroads and industry policies

A New York Central freight train. (Photo: James C. Suh Collection/New York Central System Historical Society)

John Pierpont (J.P.) Morgan (1837-1913) was an “American financier and banker who dominated corporate finance on Wall Street throughout the Gilded Age.” He headed the banking firm that became J.P. Morgan and Co., and led the wave of industrial consolidation in the United States that spanned the late 19th and early 20th centuries. He was so successful at developing and financing these consolidations that the process became known as “Morganization.”

In effect, Morgan “reinvented how monopolies...

https://www.freightwaves.com/news/freightwaves-classicsleaders-jp-morgan-greatly-influenced-us-railroads-in-the-late-19th-century

No privatisation without competition, Rod Sims argues

Given the unwarranted secrecy, multi-year gagging orders, refusal of governments to properly answer questions and the general lack of transparency on the privatisation of multi-billion dollar port assets to create local monopolies, the above picture featuring the character from the Monopoly Board game seems particularly apposite. Picture: BP Miller via Unsplash.

Privatisation without competition harms the Australian economy and should be avoided, Rod Sims, the chair of the Australian...

https://www.shippingaustralia.com.au/no-privatisation-without-competition-rod-sims-argues/

Sustainable competition in harbour towage – how do we get there?

David Fethers, Managing Director Australia and Papua New Guinea, Smit Lamnalco, writes:

2020 marked almost 30 years since the provision of harbour towage at the ports of Melbourne, Sydney (Port Botany and Port Jackson), Newcastle, Brisbane, Fremantle and Adelaide first commenced as a ‘declared’ service under the Prices Surveillance Act 1983.

The declaration was made to address concerns over the lack of competition in the provision of harbour towage.

Eleven years later, in 2002, the Productivity...

https://shippingaustralia.com.au/sustainable-competition-in-harbour-towage-how-do-we-get-there/