Tuesday 20th Nov, 2018

Capacity expansion boosts Tauranga

Port of Tauranga
Port of Tauranga

EXTRA capacity allowing for bigger ships has boosted 2018 financial year figures for the Port of Tauranga, according to chairman David Pilkington.

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Figures provided showed container volumes had increased 8.9% to nearly 1.2m TEU, while overall cargo volumes increased 10.2% to almost 24.5m tonnes.

Group net profit after tax for the year to 30 June rose 13% to $94.3m.

“This growth is a direct result of Port of Tauranga’s six year investment in building capacity to accommodate larger vessels,” Mr Pilkington said.

“We completed our capacity expansion program in 2016 and the effects were almost immediate. We are seeing larger container vessels, as well as larger bulk cargo and passenger ships.”

Highlights:

  • GNPAT increases 13% to NZ$94.3 million
  • Annual container throughput increases 8.9% to almost 1.2 million TEU
  • Transhipment increases 23.3%, making up a quarter of all container traffic
  • Log volumes increase 14.3% to 6.3m tonnes
  • Exports increase 8.2% to 15.4m tonnes, while imports grow 13.7% to 9 million tonnes
  • Subsidiary and Associate earnings increase 11.9% to $16.4m
  • Annual revenue increases 10.9% to $283.7m
  • Asset valuation increases by $226m
  • Final dividend of NZ7.0 cents per share brings the total ordinary dividend to 12.7 cents per share, an increase of 13.4% on the previous year
  • A special dividend of NZ5c per share is to be paid.

Port of Tauranga chief executive Mark Cairns said a ninth container crane had been ordered for delivery in 2020

Port of Tauranga’s container terminal now has 2634 refrigerated container (reefer) connection points, supplemented in the peak season with 12 generators each supplying power to 35 containers.

“We believe we have the largest reefer capacity in Australasia demonstrating the significance of the volumes we are handling,” Mr Cairns said.



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