Ports of Auckland, whose operations have been disrupted by a drawn-out industrial dispute that scared off customers, posted a 17 percent decline in first-half profit on reduced container volumes and an absence of year-earlier one-time gains.
Profit fell to $15.5 million in the six months ended December 31, from $18.6 million a year earlier, the city-owned port company says in a statement. Revenue from port operations fell 5.8 percent to $90.1 million.
Container volumes fell 8.9 percent to 413,884 20-foot equivalent units, it says. Full import containers fell 5.4 percent and export containers declined 9.2 percent.
Breakbulk cargo volumes, including cars, rose 6.5 percent to 2.02 million tonnes. Vehicle volumes rose 1 percent.
Auckland lost business to Port of Tauranga because of the strike as shipping company Maersk diverted some services and Fonterra opted to move all of its upper North Island export dairy products through the Tauranga port.
Port of Tauranga yesterday posted record first-half earnings and recorded a jump in volumes of dairy products and meat.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Auckland council puts debt issuing plans on ice over Brexit concerns
- Shewan report measures possible by end of year
- Light rail the winner in latest Auckland Transport turnaround
- Will people voluntarily stop owning cars within 20 or 30 years?
- Uber launches free Pandora personalised music for its Kiwi, Australian and US drivers
Most listened to
- BNZ's Jason Wong says the movements in the currency market last week were some of the biggest in history
- CBL's Peter Harris on uncertain times in the UK insurance industry
- Govt performing an awkward political U-turn on foreign trusts. Rob Hosking with John Shewan and John Key
- Trade Minister Todd McClay says plans for an FTA with the EU will not be hindered by the Brexit
- Oxford University academic Malcolm McCulloch predicts the imminent death of the internal combustion engine