Port of Newcastle chief executive Craig Carmody says the shift away from fossil fuels is happening faster than expected and the port will start building a container terminal as soon as possible after the NSW government agreed to scrap “outrageous” fees designed to crimp competition.

NSW’s lower house on Tuesday passed a bill brought by independent MP Greg Piper to get rid of hefty fees that the port was required to pay if it developed a container terminal big enough to rival Port Botany and Port Kembla.