Tauranga posts record 35pc container volume hike after Auckland strike

NEW Zealand's Port of Tauranga has reported record net profit in the fiscal year ending June 30 of NZ$73.5 million (US$58.85 million), up 26 per cent year on year and recording a profit after tax of NZ$58.4 million.

It was a record breaking year in which containers were half its cargo traffic coming in at 796,024 TEU, a 35 per cent increase year on year, attributed to siphoning of cargo by rail from its inland container MetroPort facility, south Auckland by rail, and remaining third of gains made from re-directed freight following Ports of Auckland strikes and go slows.

New shipping services support the increase by 200,000 TEU of the total handled with Metroport up 33 per cent to 183,000 TEU.

"Our long-term business partner KiwiRail was pivotal to this success. At short notice, it stepped up increasing services from MetroPort in Auckland to Sulphur Point from four to six trains per day giving us capacity of up to 636 TEU per day each way. It continues to offer this service," port CEO Mark Cairns told Tauranga SunLive newspaper.

Cargo volume by tonnage was up 20 per cent to 18.5 million tonnes with diary leading the volume in 126 per cent increase to 1.33 million tonnes and logs up 11 per cent to 4.9 million tonnes.

The port is forecast to continue gains despite an global economic uncertainty, said Mr Cairns weathering huge volume increases in March of 82,000 TEU up 81 per cent year on year.

It awaits a final decision in October on NZ$180 capital expenditure port expansion over next thee years and dredging work to allow for next generation vessels.In the last financial year, the port expanded its fleet of twin-lift straddle carriers by six and has ordered a further six for delivery early in 2013.