Port Taranaki has formally withdrawn from the container trade and is to focus energies on the log sector and its existing core businesses of bulk liquids, bulk dry products and supporting the offshore oil and gas sector.
Lyttelton Port of Christchurch (LPC) has delivered a strong return in the 2016-2017 financial year while Port Taranaki has experienced a tougher 12 months to June 30, 2017.
New Zealand North Island ports, CentrePort Wellington and Port Taranaki, have delivered contrasting performances in the financial year to June 30.
A net reduction of seven staff has been actioned by Port Taranaki following a four-month business review encompassing all areas of port operations.
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Port Taranaki has returned a comparable dip of 3.2% in net after-tax profit to NZ$11.37m and CentrePort Wellington a rise of 4.2% in net after-tax profit (prior to earthquake and fair value adjustments) to NZ$12.3m during the 2014-2015 financial year.
What happens when trade patterns change and a port must switch quickly from a container focus to a bulk trade?
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