Increased container volumes, log exports and transhipped cargo is boosting results at the Port of Tauranga.
The company continues to grow with 12.8% increased revenue to $141.4 million and net profit up 12.6% to $47.1m in the six months ending December 31.
Total trade increased 13.4% from 11 million tonnes to 12.5 million tonnes for the period and container volumes grew 15.8% to 590,803 twenty foot equivalent units (TEUs).
Transhipped TEUs (cargo moved from one ship to another) increased by 47.6%.
Imports increased 20.7% from 3.9 million tonnes to 4.7 million tonnes.
Exports grew 9.4% to 7.7 million tonnes, with a 12.5% large increase in log exports marked by high demand and record prices in China.
Chief executive Mark Cairns says the transhipment figures are a real highlight.
“We are delighted by the amount of transhipment occurring from other New Zealand ports … the largest increases occurring from the South Island ports and Napier,” he says.
Its Auckland MetroPort also handled 8.4% more TEUs over the period with train trips between he two cities increasing from 78 to 86 per week.
“We have the capacity to increase train frequency in future as we still have plenty of headroom on the route between Auckland, Hamilton and Tauranga.
“KiwiRail’s work to build passing loops in recent years has future-proofed our rail capacity,” Cairns says.
Chairman David Pilkington says the results show Tauranga is the “hub and spoke” port network in New Zealand.
“Tauranga serves as a hub for New Zealand shippers looking to quickly and efficiently move cargo to and from North Asia and South America via big ship services.
“Tauranga is the only New Zealand port able to accommodate the larger container ships on these international services,” Pilkington says.
