

The ultimate boss of the Third Terminal at Port Botany will be the 81 year old Sir Li Ka-shing, Asia’s richest self-made billionaire. Through the Hutchison Whampoa conglomerate, Li is the world’s largest operator of container terminals, world’s largest health and beauty retailer, a major supplier of electricity to Hong Kong and a real estate developer. His second-largest holding is the Canadian oil firm Husky Energy. Li’s current personal worth is estimated at $16.2 billion (a drop of $10 billion over the past year). Previous investments in Sydney have been notable failures - The Cross City Tunnel and the Lane Cove Tunnels. In 1980 Li established the the Li Ka-shing Foundation and in 2000 was knighted by the Queen. He is an avid golfer who plays almost every day and reportedly sank his 15th hole-in-one in September. Link to profile on Li Ka-Shing
The announcement for the third operator was to be made in November last year, then July this year, then August, then put off to early next year. But here it is as a Christmas ‘eve’ special.
Link to Premier’s Media Release
Link to Hutchison’s Media Release
Link to Video on Port Construction
Link to Lloyd’s List Report
Link to MUA report
Link to Herald Article on Hutchinson after Queensland Announcement in 2007
Link to article in 2006 issue of Environmentally Speaking with reference to Hutchinson and Li Ka-Shing
Link to The Australian report
Hutchinson submission
ATN (Australian Transport News):
Foreigner wins Botany space; Asciano says three’s a crowd
December 18, 2009, by Jason Whittaker
Global ports operator Hutchison Port Holdings has won a tender to set up at Sydney’s Port Botany, breaking the existing stevedore duopoly at its second Australian port.
But already the local container terminal operator has hit out at the decision, suggesting volumes through the port can’t support a third player.
The New South Wales Government announced today Hutchison had won the bidding process to operate new berths as part of a $1 billion expansion of Port Botany.
Hutchison is also preparing to set up at the Port of Brisbane after winning that tender for a third operator in 2007.
Ports and Waterways Minister Paul McLeay says a third stevedore will “increase competitive tension” in the market.
“To be competitive in global trade we need world-class facilities and international operators and that’s what we will have with this massive infrastructure investment,” he says.
“Increased competition will benefit business and the residents of NSW by reducing cargo handling charges for goods that come through the port.”
But Asciano, parent company of stevedore Patrick, says the Government has invested in capacity “well ahead of demand”.
Asciano CEO Mark Rowsthorn doubts Hutchison will move onto the waterfront for at least three more years.
“We expect the third entrant will stage its introduction into Port Botany. Industry sources have indicated that the new operator will not actually enter the market until 2013,” he says.
And he has questioned whether Hutchison’s introduction is being underwritten by the Government’s Sydney Ports Corporation or encouraged with “more favourable conditions” to enter the market. (more…)