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Investment
3 mins to read
1

Rail costs, Red Sea, create stormy trading for Port of Tauranga

The country’s largest container port says its biggest challenge in competing with Auckland imports is the cost of rail from KiwiRail.

Port of Tauranga, New Zealand's busiest export terminal.

Brent Melville Fri, 23 Aug 2024
Key points
  • Revenue: Flat at $417.4m, on total trade of 23.6 million tonnes, down 4.2% on the comparable 24.7 million tonnes.
  • Net profit after tax: Down 22% to $90.8m from $117.1m the prior year, but in line with market forecast.
  • Main takeaway: A tale of two halves for the country’s largest export terminal, as second half salvages a difficult year characterised by global shipping schedule volatility.

Port of Tauranga chief executive Leonard Sampson says significantly higher rail costs and continued global freight disruption had added to its headwinds of New Zealand’s economic downturn.

In releasing the results of the country’s busiest port on Friday, Sampson said its biggest challenge in

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Brent Melville Fri, 23 Aug 2024
Contact the Writer: bmelville@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Key points
  • Revenue: Flat at $417.4m, on total trade of 23.6 million tonnes, down 4.2% on the comparable 24.7 million tonnes.
  • Net profit after tax: Down 22% to $90.8m from $117.1m the prior year, but in line with market forecast.
  • Main takeaway: A tale of two halves for the country’s largest export terminal, as second half salvages a difficult year characterised by global shipping schedule volatility.
Company profile
Powered by:
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Related News
Infrastructure

Port of Auckland splashes out $40m dividend
Politics
4

Treasury questioned KiwiRail board performance before exits
Investment

Craigs sees more NZX-listed company downgrades ahead
Law

Maritime NZ takes the reins of port safety
Rail costs, Red Sea, create stormy trading for Port of Tauranga
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