US company linked to Trump administration in talks over Darwin Port lease

Australia Broadcast Center

27-05-2025

An American investment firm linked to US President Donald Trump's administration has shown interest in the Port of Darwin, which is currently leased by a Chinese-owned company.
Last month the federal Labor government made an election pledge to bring the port lease "back into Australian hands", but it remains unclear if they would support a bid from another foreign-owned entity.
The strategically important northern Australian port has been a hotly debated national security issue since it was leased to Chinese firm Landbridge by the NT government for 99 years in 2015.
A representative of New York-based Cerberus Capital Management held meetings in the Northern Territory capital earlier this month, port operator Landbridge has confirmed.
Cerberus was co-founded by billionaire Steve Feinberg, who stepped aside from his role as the company's chief executive earlier this year to become the Deputy Secretary of Defense in the Trump White House.
Landbridge's non-executive director for Australia, Terry O'Connor, told the ABC that a Cerberus representative had met with Darwin Port's management, but had not put in an offer for the asset.
"There's certainly been no prices negotiated [for the port], no prices even discussed or raised.
"We would see Cerberus's interest as the same level of interest as we've received from multiple other companies who have talked to the port [management] over the past couple of months."
Cerberus's website describes the firm as an "established alternative investment advisor with approximately $65 billion in assets" across the globe, including in the military, automotive, real estate and aviation sectors.
Cerberus did not respond to requests for comment by time of publication.
The ABC has been told by federal sources that negotiations between Cerberus and Darwin Port management were not being facilitated by the Australian government.
A spokesperson for the prime minister's office only reaffirmed that the Commonwealth was "working closely with the Northern Territory government on the next steps" for the port.
Solomon MP and Special Envoy for Defence and Northern Australia Luke Gosling was asked whether the government would support a US bid and he commented only that it was committed to getting the port back "into Australian hands".
NT Treasurer Bill Yan's office did not confirm whether he met with Cerberus representatives while they were in the territory.
Mr O'Connor said Landbridge had not had any clear indication of an impending offer from Cerberus.
"I just see this as another part of the political football game that we seem to have post-elections and around election time, to be honest," Mr O'Connor said.
"Having spoken to the Landbridge representatives in China in the last couple of days, there's been no engagement with them, at all.
"They just think it's an Australian political media storm and it will wash over."
On Sunday, Australia's Chinese Ambassador Xiao Qian posted a statement describing the federal government's pledge for the Darwin Port lease as "ethically questionable" and urged them to reconsider.
After the port was leased to Landbridge in 2015, former US president Barack Obama voiced his concern over the deal to then-prime minister Malcolm Turnbull.