The Dubai-based port terminal operator was fighting a proposed 750 percent rent increase at Port of Melbourne.
DP World has won a protracted court case against the Port of Melbourne over an “astronomical” 750 percent rent increase, according to a report from maritime news outlet Splash 24/7.
A Victoria, Australia court ruled that the port could increase charges for the Dubai-based terminal operator from the current level of A$18 (U.S. $13.11) per square meter to between A$25 and A$29 per square meter. The increase is still nowhere near the A$120-per-square-meter fees originally proposed by the Port of Melbourne.
Privatization plans at Australia’s largest container port have resulted in numerous strikes and public protests in the past year. The Victorian government is seeking a 50-year port lease agreement with an optional 20-year extension.
Australian court sides with DP World in case against Port of Melbourne
