Port of Tauranga at capacity ‘crisis point’ as trade goes begging
Country’s biggest export terminal pushed profits up 91%, but says it was forced to turn away a proposed new service to the US due to ‘ludicrous’ delays to its berth expansion plans.
Capacity constraints starting to bite after bureaucratic six-year delays to berth expansion plans.
Revenue: At $464.7m, on total trade of 25.3 million tonnes.
Net profit after tax:Up 91% to $173.4m.
Main takeaway: A solid year driven by kiwifruit and dairy exports, but constraints are starting to bite as the port enters its seventh year awaiting consent for its critical wharf expansion.
Port of Tauranga came close to doubling its profit after tax over the past 12 months to $173.4 million, up on the prior year’s profit of $90.8m.
The NZX-listed port, which handles more than half of the country’s exports by value and 35% of its total trade, boosted revenue by 11.3% to $464.7m for
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Key points
Revenue: At $464.7m, on total trade of 25.3 million tonnes.
Net profit after tax:Up 91% to $173.4m.
Main takeaway: A solid year driven by kiwifruit and dairy exports, but constraints are starting to bite as the port enters its seventh year awaiting consent for its critical wharf expansion.
