OCEANIA

NZ port to take full terminal ownership

6 years ago

A New Zealand port is currently in negotiations to acquire 100% of a container terminal business.

The Port of Tauranga told Port Strategy on 1 October that its acquisition of the Timaru Container Terminal (TCL) business “will be complete in the next few weeks”.

More details will be released by the port once the acquisition is complete.

The Port of Tauranga currently owns 50.1% of TLC and is buying the remaining 49.9% that partner Kotahi Logistics LP Ltd has held since 2014.

In 2013, Port of Tauranga entered into a strategic alliance with PrimePort Timaru. As part of this alliance, Port of Tauranga acquired the container terminal operating assets of PrimePort and set up a new Port of Tauranga Limited wholly owned subsidiary, Timaru Container Terminal, to operate the terminal from November 2013.

In June 2014, Kotahi Logistics purchased 49.9% of the terminal business.