How long it will take port to bounce back
UPDATED / 1.45pm: Timaru's port might take five years – or more – to bounce back from the loss of its container services.
PrimePort announced yesterday global container ship companies Maersk and Hamburg Sud are pulling out of Timaru. From mid-September, the companies will operate direct from Otago to Napier.
PrimePort chief executive Jeremy Boys told NBR ONLINE its container service operation and related activities makes up about a third of its $18 million annual revenue.
But he says it makes little contribution to the profit margin.