New Zealand ports return half year profits

New Zealand’s “largest, fastest-growing and most-productive” port saw its container volumes lift 8.9% to almost 1.2m teu, with overall cargo throughput increasing 10.2% to almost 24.5m tonnes.

Volumes rose across all major cargo categories, including a 14.3% increase in export logs and 4% gain in dairy products.

Meanwhile, Port Taranaki achieved a 14.4% lift in net after-profit tax to NZ$8.26m and 9% rise in revenue to NZ$41.7m.

Total trade increased 1.2% to 5.14m tonnes, with notable contributors being the 42% rise in logs to a record 692,000 JAS and 39% lift in dry bulk volumes to a five-year-high of 792,000 tonnes.

Then, South Port reported a 14% increase in net after-tax profit to NZ$9.7m and 10% lift in revenue to NZ$40.7m.

A 13% rise in total cargo throughput to a record 3.45m tonnes was achieved, predominantly based on strong bulk cargo throughput, with this sector currently representing 85% of the port’s trade.