Chinese operator of Darwin port in financial trouble

Landbridge, a Chinese company that runs the Australian port of Darwin, has warned it is in financial difficulty raising the possibility that the Northern Territory (NT) government might terminate its lease of the facility.

Landbridge Infrastructure Australia signed a 99-year lease for the port nine years ago. It has made losses each year, while its parent, Shandong Landbridge Group, is in an even worse financial position. 

“Our immediate focus is to ensure the port remains operational while its longer term future is confirmed,” the NT government stated in a release.