Mixed results for Kiwi ports

Container throughput comparably rose 10.4% to 470,928 teu and total trade lifted 1.1% to 10.1m tonnes.

Port of Tauranga chairperson David Pilkington described the result as “strong”, particularly in the face of the decline in log export volumes.

“Our strategy of extending the port’s freight catchment across New Zealand continues to deliver results for shareholders and the country’s exporters and importers,” he says.

Meanwhile in the lower South Island, South Port has returned a comparable 53.8% rise in net after-tax profit to NZ$5.06m with total cargo throughput lifting 2% to 1.51m tonnes during the interim period.

South Port chairperson Rex Chapman described the result as “satisfying”, particularly having comes against a challenging market backdrop for a range of cargo providers.

“Despite a subdued demand picture for a range of cargoes, there are recent customer signals that stable second half operations are likely,” he says.

“South Port’s main cargo flows are expected to hold up well and to track budget expectation in the six months to June 30, 2016.”