Latest news with #PortOfDarwin
Bloomberg
14 hours ago
- Business
- Bloomberg
Australia's Marles on Chinese Ownership of Port of Darwin
Australia's Deputy Prime Minister Richard Marles says the national government opposes Chinese ownership of the Port of Darwin, adding that Canberra isn't under added pressure from the Trump administration to find a new buyer for the facility. He speaks with Bloomberg's Haslinda Amin on the sidelines of the Shangri-La Dialogue in Singapore. (Source: Bloomberg)
Bloomberg
15 hours ago
- Business
- Bloomberg
Australia Says US Not Making Demands Over Chinese-Owned Port
Australia's deputy prime minister said the national government has consistently opposed Chinese ownership of the Port of Darwin and isn't under added pressure from the Trump administration to find a new buyer for the facility that is under increased scrutiny in Canberra. 'We don't think it is appropriate that that piece of infrastructure was in the hands of a Chinese publicly-owned entity, a Chinese government-controlled entity,' Richard Marles, also Australia's defense minister, said Saturday in an interview with Bloomberg Television on the sidelines of the Shangri-La Dialogue in Singapore. 'We are working through to get a better resolution to the ownership structure of the port.'
Bloomberg
2 days ago
- Business
- Bloomberg
Darwin Port Tussle Highlights China-US Tension
Good morning, it's Angus here in Sydney. Here's what you need to know as we round out the week. Today's must-reads (listens): • Our podcast on the Port of Darwin showdown • How many RBA rate cuts? • Natural gas sector grapples with red tape In 2015, Chinese company Landbridge was awarded a 99-year lease over the Port of Darwin. Now, Australia wants to take it back and put it into local hands. This week on the Bloomberg Australia podcast, Rebecca Jones speaks to government reporter Ben Westcott and senior editor Chelsea Mes about why Beijing is speaking out against that decision, and what role the US might play.
Japan Times
2 days ago
- Business
- Japan Times
With Port of Darwin, Australia hopes to avoid a repeat of Panama Canal
Prime Minister Anthony Albanese is confronting a fresh diplomatic dilemma with China: How to fulfill a pledge to regain control of a strategic port without jeopardizing improved relations with his country's largest trading partner. Ahead of an election earlier this month, Albanese promised to return to Australian control the Port of Darwin from Chinese company Landbridge Group. It was awarded a 99-year lease in 2015 by the Northern Territory government in a move that sparked criticism from an array of politicians in Australia and in the U.S., which uses a nearby military training facility. China is Australia's biggest trading partner by far and previously expressed anger over pressure from the administration of U.S. President Donald Trump concerning the Panama Canal, which resulted in a potential sale by a Hong Kong-based conglomerate of its two Panama port operations — a deal Beijing has said it will review.
Bloomberg
3 days ago
- Business
- Bloomberg
The Global Tussle For The Port of Darwin
On this week's Australia Podcast: Host Rebecca Jones speaks to government reporter Ben Westcott and senior editor Chelsea Mes about the strategic significance of the Port of Darwin. Never miss an episode. Follow The Bloomberg Australia Podcast today. In 2015, Chinese company Landbridge was awarded a 99-year lease over the Port of Darwin. Now, Australia wants to take it back and put it into local hands. This week on the podcast, Rebecca Jones speaks to Ben Westcott and Chelsea Mes about why Beijing is speaking out against that decision, and what role the US might play.
