The Australian boss of Hutchison Ports has confirmed the company will hold talks with International Container Terminal Services about an east coast joint venture to compete with Patrick and DP World Australia, as it plans to offer a “compelling value proposition” to break the industry duopoly.
Speaking after the official opening of its new $300 million terminal at Port Botany in Sydney yesterday, Hutchison’s Australian chief executive, Stephen Gumley, said the extent to which the company tried to launch a joint venture with ICTS so that it offered services at all the major east coast ports would largely depend on the needs of the customers of both parties.