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.

 

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