Economist, ALP federal politician, and Assistant Minister for Competition, Charities & Treasury, the Hon Dr ANDREW LEIGH MP, writes about competition in the maritime industries.
Dr Leigh writes:
“The Albanese government recognises that the economic performance of Australia’s maritime logistics is critical to sustaining the nation’s trade and prosperity.
“As global trade continues to expand, competition in the container shipping industry has become a vital topic, and ensuring efficiency and affordability in this sector is high on the government’s agenda. With the shipping industry handling approximately 99 percent of Australia’s trade by volume, this sector is essential for both the national economy and consumers.
“The COVID-19 pandemic exposed vulnerabilities in global supply chains, causing disruptions and highlighting the impact that container shipping has on daily life. As ports became congested, shipping prices soared, and product shortages became more apparent. These disruptions affected businesses and consumers alike, underlining the need for stronger competition, regulatory oversight, and modernising Australia’s ports”.
Dr Leigh goes on to talk of global supply chain challenges, shipping costs, geopolitical conflicts, the role of government in encouraging competition, concentration in the shipping sector, and vertical integration among other factors.
You can read Dr Leigh’s full insight here.
