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The Australian government’s willingness to undercut the Chinese-owned asset by funding upgraded port facilities nearby shows a lack of joined-up thinking.
Infra cover story Feb 2022
The pandemic has caused severe disruptions to the global supply chain, but ports have proven resilient in what has been described as the biggest crisis since the start of container shipping, writes Alastair O’Dell.
The Australian bulk port, put on the market last year by Brookfield and State Super, represented a ‘rare’ opportunity, Palisade Investment Partners’ Alastair Pollock says.
The country's competition watchdog is keen to expand its remit in aviation and ports – but it isn’t clear that a bigger role would benefit customers.
The Lucky Bay shallow-water port, operational since mid-2020, could list in late 2023 following a capital raise to fund expansion and repay construction debt.
Treasurer Josh Frydenberg ruled in favour of Port of Newcastle, partly owned by MIRA-managed The Infrastructure Fund, in a dispute over access with the NSW Minerals Council.
India
The country’s aviation sector will be the last to recover, but while the power segment has proved resilient, significant delays in receivables are worrying, S&P Global Ratings says.
The financial impact of coronavirus on infrastructure assets may yet prove to be much wider and deeper than during past stresses, Fitch Ratings' Seth Lehman says.
Transportation in china
S&P Global Ratings expects ‘substantial disruption’ to sector revenue in the first half of 2020 in mainland China and Hong Kong.
Travel restrictions and market volatility mean that neither a private sale or public listing are currently viable, but Brookfield intends to re-start the sale process at an undetermined date.
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