New Zealand: Port of Tauranga on Right Track

Port of Tauranga on Right Track

Port of Tauranga posted a 26 percent gain in full-year profit to a record and predicted more earnings growth in 2013 on rising volumes of freight.

According to scoop.co.nz, the profit was $73.5 million, or 54.8 cents a share, in the 12 months ended June 30, from $58.4 million, or 43.6 cents a year earlier.

Port of Tauranga is currently awaiting the outcome of an Environment Court hearing into consents to dredge its harbour to accommodate the next generation of bigger ships, up to 8,000-equivalent TEU vessels. The decision is expected in October.

“We are now more confident that the $180 million capital expenditure programme over the next three years, expanding the port infrastructure, will prepare Port of Tauranga for the next period of growth,” said chief executive Mark Cairns.

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Dredging Today Staff, August 29, 2012; Image: port-tauranga

 

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