Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Ports of Auckland 1H profit falls 17% on container drop

Ports of Auckland 1H profit falls 17 percent as container volumes drop

Feb. 22 (BusinessDesk) – Ports of Auckland, whose operations have been disrupted by a drawn-out industrial dispute that scared off customers, posted a 17 percent decline in first-half profit on reduced container volumes and an absence of year-earlier one-time gains.

Profit fell to $15.5 million in the six months ended Dec. 31, from $18.6 million a year earlier, the city-owned port company said in a statement. Revenue from port operations fell 5.8 percent to $90.1 million.

Container volumes fell 8.9 percent to 413,884 twenty-foot equivalent units, it said. Full import containers fell 5.4 percent and export containers declined 9.2 percent.

Breakbulk cargo volumes, including cars, rose 6.5 percent to 2.02 million tonnes. Vehicle volumes rose 1 percent.

Auckland lost business to Port of Tauranga because of the strike as shipping company Maersk diverted some services and Fonterra opted to move all of its upper North Island export dairy products through the Tauranga port.

Port of Tauranga yesterday posted record first-half earnings and recorded a jump in volumes of dairy products and meat.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news