Waterfront operators’ soaring profit margins prompts concerns from competition regulator

The ACCC reported that stevedoring industry profits have rapidly increased to 25% in 2022-23, rising from 6% before the pandemic. Photograph: Mike Bowers/The Guardian

Australia’s dominant container terminal operators are enjoying surging profits, prompting accusations from the competition regulator they are not subject to sufficient pricing pressure.

The recent highly profitable period for stevedoring companies, which coincides with pandemic-related disruptions to the global container freight supply chain, is also driving up prices for consumers, according to industry groups unhappy with charging rates.