The Port of Tauranga, now enjoying cargo diversion from its strike-bound rival Ports of Auckland, has posted a 22 per cent net profit increase to a record NZ$34.6 million (US$28.9 million) year on year in the second half, drawn on revenues of NZ$105.7 million, up 14 per cent.
    Container volume increased 17.1 per cent to 344,081 TEU while overall cargo throughput was up 9.6 per cent to 8.5 million tonnes year on year, reported New Zealand's National Business Review.
    Container traffic at subsidiary MetroPort Auckland increased 10.8 per cent to 80,746 TEU and PoT and Kiwi Rail have increased train capacity between the points with growth expected to continue.
    Tauranga has also benefited from ongoing labour disputes at the Ports of Auckland when shipping company Maersk transferred its weekly Southern Star service from Auckland to Tauranga, said the report.
    "The results are a tribute to Port of Tauranga's staff and service providers, who have responded quickly to the growth in demand due to the ongoing recognition of our reliability, productivity and competitiveness and also to the short-term increase in demand in the wake of the industrial dispute at Ports of Auckland," said PoT chairman John Parker.
    The first stage of the expansion of the quay at Tauranga Container Terminal is on schedule for completion early in 2013. This project will extend the wharf length by 170 metres, increase berthage capacity by 28 per cent and includes paving further land to provide additional container terminal area.
    Said PoTs chief executive Mark Cairns: "The growing diversity of our revenue streams, combined with our significant strategic land holdings, the strength of our balance sheet and the positive can-do culture of our staff and service providers, leave us well-placed to meet the ongoing increase in demand that we are expecting."

(source:shipping online)