AN ACCC ruling allowing the coal industry to collectively bargain shipping charges with the Port of Newcastle has been overturned in the Australian Competition Council after an appeal by the port.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The tribunal published its verdict on Friday but the tribunal has ordered that its reasons not be disclosed until the parties have decided whether they want any evidence redacted or suppressed because of commercial confidentiality. The parties have until March 4.
Similar restrictions have applied in the higher profile container competition cases in the Federal Court, where evidence has been given in camera and redacted from public documents.
IN THE NEWS:
The Australian Competition and Consumer Commission said it had granted the Minerals Council of NSW and ten mining companies the right, in August 2020, to collectively bargain a 10-year deed with the port.
The ACCC said collective bargaining could efficiently deliver quick resolutions and had minimum detriment because participation was voluntary for the industry and the port. It was waiting for the tribunal's reasons to understand its decision.
The privatised Port of Newcastle welcomed the decision "and an end to this matter once and for all".
The port said this decision together with its High Court victory in December against coal company Glencore meant that for the first time in six years it could negotiate with its customers without a third party.
The minerals council said Newcastle's virtual monopoly (Kembla has a small loader) created a significant commercial imbalance it hoped to address with collective bargaining.
The industry peak body said the tribunal decision to set aside the ACCC's authorisation was disappointing.
"We will continue to pursue all means and options to secure fair oversight of the monopoly Port by the ACCC as the competition regulator," the minerals council said.
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:
- Bookmark: newcastleherald.com.au
- Download our app
- Make sure you are signed up for our breaking and regular headlines newsletters
- Follow us on Twitter
- Follow us on Instagram
- Follow us on Google News