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ARTICLE · 11 AUGUST 2016

Is Toll and Sea Swift merger the exception or a new normal?

Corrs Chambers Westgarth
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Sea Swift was granted authorisation to acquire Toll's marine freight operations in the NT and Far North Queensland.

AustraliaAntitrust/Competition Law
Thomas Jones (Formerly With Corrs Chambers Westgarth)
Thomas Jones (Formerly With Corrs Chambers Westgarth)
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On 1 July 2016, the Australian Competition Tribunal (ACT) granted Sea Swift Pty Limited (Sea Swift) authorisation to acquire Toll Marine Logistics Australia's (Toll) marine freight operations in the Northern Territory and Far North Queensland (the acquisition).

The authorisation is subject to requirements that, for a period of five years:

  1. Sea Swift maintain a minimum level of scheduled services to locations in remote communities (remote community service condition); and
  2. Sea Swift comply with price caps for certain categories of freight in those remote communities (remote community price condition).

In addition, Sea Swift must give an undertaking regarding access to the Gove Wharf at Nhulunbuy and dispose of some of its vessels.

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