Sea Swift Pty Ltd (Sea Swift) has withdrawn its application to the Australian Competition Tribunal (the Tribunal) for authorisation to acquire the Northern Territory (NT) and far north Queensland (FNQ) marine freight business of Toll Marine Logistics Australia (Toll Marine), which is a division of Toll Holdings Limited.
As a result, the Tribunal hearing, which was scheduled to commence on 30 November 2015, will now not proceed.
Sea Swift and Toll Marine are both providers of scheduled marine freight services to the NT, FNQ and coastal communities including the Torres Strait Islands.
On 9 July 2015, the Australian Competition and Consumer Commission announced its decision to oppose Sea Swift’s proposed acquisition of the Toll Marine NT and FNQ business because it was likely to have the effect of substantially lessening competition.
On 21 September 2015 Sea Swift applied to the Australian Competition Tribunal for authorisation to acquire the Toll Marine NT and FNQ businesses.
Further information regarding Sea Swift’s application for authorisation is available at http://www.competitiontribunal.gov.au/authorisations