PERTH: Ports of Auckland are interested in stretching its tentacles into the South Island, possibly in partnership with another port.
The port revealed its plan after releasing its annual results which showed the council-owned port had put in a relatively flat performance in the year to June 30.
The port posted a net profit of $63.2 million, down 14.6 per cent on last year’s result, due mainly to an increase in costs, including $2.4m in severance payments.
However, after adjustments – including a $14.6m gain in property revaluations – the port’s underlying profit was $61.4m.
The adjustments also included a $7.3m writedown on Bledisloe Wharf, which the port planned to extend in April., However, protesters who questioned the transparency of the resource consents won a High Court case to have them overturned in June.
During the year, the company’s revenue fell to $218.3m, down from $221.2m, reflecting the sale of its subsidiary Connlinx.
Container volumes were up just 0.4 per cent although this was seen as a positive, given the loss of a Maersk shipping service last year.
Despite the result, chief executive Tony Gibson said he was delighted that container traffic had not weakened, and also that the port had been crowned the most productive in both New Zealand and Australia.
Long-term, he said the port’s outlook was strong. The focus was on making the port as strong in exporting as it was in importing, which was why it was opening up freight hubs around the North Island.
The end goal was to reduce the number of empty containers heading back to Auckland, and in addition to its hubs Wiri and Longburn, the port plans to open one in Mt Maunganui, in Port of Tauranga’s patch, at the end of the year.
Shipping activity at Port Qasim on February 11
KARACHI: Three ships namely, Glen Canyon, Al-Salam- II and TSM Pollux carrying Containers, Gas oil and Palm oil were arranged...
