The Australian Competition and Consumer Commission (ACCC) has released its Container Stevedoring Monitoring Report for 2024-25, revealing that stevedores are charging record high prices and achieving historic profits, even with substantial spare capacity in ports. This trend raises concerns about the competitive dynamics within the industry.

In 2024-25, the total real revenue per container lift reached a historical high of $423.11, marking a $21.93 increase (5.5%) from the previous year and a $68.88 increase (19.4%) since 2019-20. The report highlights that stevedoring profits have risen for five consecutive years, with operating profits soaring to $808.6 million, a 130.5% increase over five years.

ACCC Commissioner Anna Brakey noted that these high returns are unexpected given the significant spare capacity at ports and stable costs. The report indicates that stevedores are performing better than before the entry of Hutchison, raising questions about market operations.

A key factor driving the rising prices is the increase in landside charges, which have become a major revenue source for stevedores. In 2024-25, nearly half of the industry's revenue ($1.15 billion) came from these charges, with terminal access charges alone contributing over $642 million. The ACCC expresses concern that stevedores can raise these charges independently of market conditions, impacting trucking companies and ultimately consumers.

The ACCC suggests that targeted reforms may be necessary to ensure competitive constraints on stevedores, as the current situation could lead to higher costs for Australian businesses and households.