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ARTICLE · 22 MAY 2014

Reforms for shipping in Australia

Norton Rose Fulbright Australia
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These budget measures may increase challenges that already exist to rebuild a strong Australian maritime capability,.

AustraliaGovernment, Public Sector
Michael Tooma (Formerly With Norton Rose Fulbright Australia)
Michael Tooma (Formerly With Norton Rose Fulbright Australia)
Ben Allen (Formerly With Norton Rose Fulbright Australia)
Ben Allen (Formerly With Norton Rose Fulbright Australia)
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From 1 July 2014, the government will decrease the Protection of the Sea Levy (PSL) to 11.25 cents per net registered tonne for defined vessels on an ongoing basis. The PSL revenue was levied to establish a $10 million pollution response fund to enable the Australian Maritime Safety Authority to respond quickly to pollution incidents at sea. The government will now achieve savings of $39 million over four years by rephasing lower priority maritime safety initiatives and these savings will offset the reduction in revenue.

Norton Rose Fulbright partner Ernie van Buuren says that the reduction of the PSL will assist to reduce the cost of conducting shipping business in Australia. He adds that in recent years shipping rates in Australia have surged and this reduction in the levy on ships entering Australian ports will be a welcome measure.

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