A container terminal in Newcastle can diversify and grow Newcastle's economy. Thus, the Port is exploring a range of options based on global best practice, Mr. Carmody noted.
We have already received interest from domestic and global players who want to develop a state-of-the-art container terminal with productivity performance that will be unlike any other Australian port. However, we cannot proceed while the NSW government imposes an artificial restriction on port competition.
Namely, a container terminal in Newcastle is expected to deliver greater freight efficiency and competitive advantages for Australian businesses. It will also play an important role in advancing international trade, generate jobs and move freight faster and more cost effectively.
With freight growth in Newcastle expected to double by 2040, a container terminal will provide efficiencies and competition to meet the future logistics and freight task, Mr. Carmody believes.
Another reason why Craig Carmody wants this terminal is the decline of coal. As he mentioned:
Newcastle is proud to be the world's largest coal port, but we are also realistic about coal's declining prospects in decades to come. That is why we are committed at the Port of Newcastle to playing a major part in the Hunter region's growth and diversification strategy through the development of a container terminal.