Port of Tauranga’s annual profit growth slowed to 1% as log export volumes, which drove growth in 2014, declined, leaving total export volumes unchanged.
Profit was $79.1 million in the 12 months ended June 30, from $78.3 million a year earlier reports BusinessDesk.
Operating revenue rose to $268.5 million from $266.5 million.
“Trade volumes are expected to be slightly higher in 2016,” says chief executive Mark Cairns.
“At this stage, we are expecting log volumes to be similar to the last financial year. With the low dairy payout, fertiliser and dairy food supplement volumes are expected to decrease but we will see an increase in kiwifruit and container trade.”
He says container volumes rose 19% in the first month of the current financial year.
The number of containers crossing Tauranga’s wharves rose 12% to 851,106 TEUs, helped by its relationship with Kotahi under which agreed volumes of containers were delivered.
Imports rose 8% to 6.9 million tonnes, driven by a 55% jump in cement to 165,503 tonnes, which the company said reflected the strength of the local construction industry.
Car volumes more than doubled to 11,607 units and general cargo rose 22% to 3.2 million tonnes.
Imports of grain fell 13%; bulk liquids dropped 6% and coal imports tumbled almost 100%, which it attributed to a decline in thermal coal generation.
Port of Tauranga expects to dredge on the Tauranga Harbour to start in October and it expects to have the infrastructure in place to handle 6,500 TEU ships in late 2016.
Container volumes are forecast to exceed 1 million TEUs in 2017.
