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Australia: Regulator queries toll sea freight sale

By  |  February 19, 2015

Australia’s anti-trust regulator on Thursday raised concerns about Toll Holdings Ltd’s planned sale of a regional shipping business to an Australian rival, warning it may increase freight costs for disadvantaged customers.

The Australian Competition and Consumer Commission said the planned $35 million sale of Toll Marine Logistics to Cairns-based Sea Swift could have serious consequences for remote communities in northern Australia.

“The ACCC is concerned that the proposed acquisition is likely to substantially lessen competition in the supply of marine freight services in the Northern Territory and Queensland, including the Torres Strait Islands,” ACCC Chairman Rod Sims said in a statement.

The commission called for submissions and said it would announce a final decision on April 16.

Full Content: Reuters

 

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