Introducing the Lonsdale Consortium (NNF 2016/027)

 
As you are aware, the Victorian Government announced on 19 September 2016 the Lonsdale Consortium (the Consortium) as the successful bidder for a fifty year lease of the Port of Melbourne’s commercial operations and assets.

Given your ongoing relationship with the Port of Melbourne as a valued stakeholder, I would like to take the opportunity to introduce the Consortium to you.

The Consortium comprises the Future Fund, Queensland Investment Corporation (QIC), Global Infrastructure Partners (GIP) and Borealis Infrastructure who are amongst the largest and most experienced global infrastructure investors with significant expertise in managing large scale infrastructure assets like the Port of Melbourne.

 The Consortium takes the ownership of this important asset very seriously and will proactively work with customers and stakeholders to develop the port in a commercial manner over the full life of the 50 year lease, to drive supply chain efficiency and capacity and to maximise economic, environmental and social performance.

Having regard to the port’s proud history, the Lonsdale Consortium has elected to retain the existing “Port of Melbourne” operating name and brand, ensuring familiarity and relevance to all stakeholders. Furthermore, there are no changes to the current bank details established for Port of Melbourne Operations Pty Ltd as part of the business separation process put in place earlier this year.

The formal commencement of the Port of Melbourne business will take place concurrently with the establishment of Victorian Ports Corporation (Melbourne) (VPCM) which will be the successor entity for certain functions performed by Port of Melbourne Corporation (PoMC). The core functions and responsibilities of VPCM will include management of commercial shipping in Port Phillip channels, waterside emergency and marine pollution response and the management of Station Pier as Victoria’s premier cruise shipping facility.

Port customers and stakeholders will note that PoMC published two Reference Tariff Schedules for 2016-17 with a view to outlining the fees and charges to be applied by the private leaseholder and VPCM respectively. These documents will be re-published with the appropriate branding upon completion of the outstanding financial arrangements for the Port Lease Transaction. Importantly, the prescribed service fees and charges outlined in these documents remain unchanged to 30 June 2017.

Key contacts and business information for the respective entities will apply from 1 November and is provided to assist continuity of customer service (view here). Please note that the GPO postal address for the Port of Melbourne business has changed.

The announcement of the Lonsdale Consortium as the private leaseholder heralds a new era for the Port of Melbourne and I look forward to providing further updates and information to you.

Kind regards, Nick

Nick Easy
Chief Executive Officer
Port of Melbourne Corporation