From the Sydney Morning Herald:
The pressure will build on DP World and the other incumbent stevedore, Asciano’s Patrick, as early as next month when a successful bidder for the third container terminal at the Port of Melbourne is expected to be announced.
Hutchison is the leading contender among four bidders – including the Chris Corrigan-chaired Qube Holdings and a Macquarie-backed consortium – for the right to operate a new $1.2 billion container terminal.
Asciano and DP World have been racing to raise their competitiveness before the deep-pocketed Hutchison gains a larger presence on the east coast. They face a new competitor that has already been willing to undercut them by as much as 15 per cent, according to UBS estimates, to gain market share.