Topic “port ownership” — Exporter Magazine

The Queensland government has announced that the Port of Brisbane, one of Australian’s fastest growing container ports, will be sold for AUD$2.3 billion NZD$2.9 billion) to Q-Port Holdings, a consortium of Middle Eastern and local investors, according to the Shipping Gazette, citing the Australian Broadcasting Corporation. Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, has bought a minority stake in Australia’s Port of Brisbane in a deal worth A$2.1 billion, (NZD$2.7 billion), according to the Trade Arabia.com website. Ratepayer control of New Zealand’s ports is a barrier to improving efficiency, dragging down their ability to be truly competitive, both with each other and also Australia, according to the National Business Review.