Port of Tauranga operations unaffected by shipping hazards from broken Rena

By Nick Gray

Jan. 9 (BusinessDesk) – Port of Tauranga operations haven’t been disrupted yet by the potential shipping hazard of up to 300 containers washed overboard when the Rena split in two, says chief executive Mark Cairns.

Port channels are being checked to ensure no risk is posed to arriving and departing vessels. So far 21 containers have been tagged and buoyed out of a total 40 spotted in the water, with the priority being to avoid them beaching, according to Maritime New Zealand’s latest media release.

“A lot of our own resources, such as sonar, are being used to make sure port channels are clear” Cairns told BusinessDesk.

A number of the containers will be submerged, posing a risk to pleasure boaters who may not be aware of the hidden threat, he said.

Michele Poole, a spokeswoman for Maritime New Zealand says the containers are believed to contain milk powder, timber, plastics and furniture.

Containers have washed ashore at Waihi beach, which has since been closed by police to prevent looting, Fairfax reported. Maritime New Zealand is scheduled to give an update at a media conference at 3pm.

Shares of Port of Tauranga fell 0.4 percent to $10.08 on the NZX today, having reached a record high $10.20 last week on news that Fonterra Cooperative Group has joined container line Maersk in moving its business from Ports of Auckland, where operations are being disrupted by strikes.

The Rena had 1,368 containers aboard when it became initially grounded, with 89 previously lost overboard and 282 removed since the recovery began on Nov. 18.

(BusinessDesk)

BUDGET 2012:
Parliament Debate Live - Video Of Budget 2011
Keith Ng Interactive Graphic: How the Budget Breaks Down
BUDGET 2012 - FULL COVERAGE: Reports / Analysis - Press Kit - Reaction (from everybody) - Previews (from everybody) - Pre-Budget Announcements

Gordon Campbell: On the Budget’s Spreadsheet Victories

It wasn’t as if expectations were sky high, exactly. Chances are, it was always more likely that we’d be seeing Bigfoot rampage through the Beehive lock-up than catch a glimpse of a credible growth agenda from this government. More >>

Sludge Budget Report - Short The Dollar! MEMO: To international bankers FROM: C.D. Sludge Please short the dollar! It'll be good for both you and us. And you know you want to. Greexit, Eurogeddon... watch out... flight to quality and all that. Follow your instincts. The NZ Debt Management Office has been so surprised at the unprecedentedly low interest rates that it can borrow at that it has already entirely pre-funded the 2013 fiscal deficit - all $8 billion of it! More >>

Pattrick Smellie Comment: Doddling along the best we can hope forCriticising Budgets for lacking vision or imagination is like shooting fish in a barrel, but even so, this year's Budget again feels like a missed opportunity. Perhaps it's the intrusion of real world needs that means the government couldn't make better political use of the $558.8 million it expects to gather in its first partial asset sale. More >>