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

 


Smith green-lights Tauranga port dredging plan

Conservation Minister Smith green-lights Tauranga port dredging plan

March 5 (BusinessDesk) - Conservation Minister Nick Smith has given the green light for Port of Tauranga to widen and deepen its shipping channels, creating space to let in bigger vessels.

The minister granted resource consent after local iwi blocked the plan under the old Resource Management Act for four years, Smith said in a statement. The consents mean Port of Tauranga can dredge the entrance and shipping lanes to allow 'S' class vessels.

"I have granted these consents, on the recommendation of the Environment Court, because of the importance for New Zealand of efficient shipping services," Smith said. "I am disappointed that it has taken nearly four years for a final decision to be made on these consents."

The port has been keen on beginning the dredging to allow bigger vessels to use the hub to open up larger trade routes that the New Zealand Shippers' Council estimates could be worth up to $338 million a year.

Port chief executive Mark Cairns said the bigger ships' better fuel efficiency will "enhance the competitiveness of New Zealand exporters and provide lower freight costs for importers."

The first stage of dredging will cost between $40 million and $50 million and will start near the end of the year. It's expected to take six months to complete.

That will let ships with a capacity of 5,000 to 6,000 twenty food equivalent containers (TEUs) access the port, which currently accommodates ships of 4,500 TEUs.

The second stage will accommodate 8,200 TEU ships.

The resource consent's conditions include the setting up of a trust with local iwi to set priorities and set aside funding for future harbour improvements, a minimum separation distance of the dredging from Te Kuia Rock, the development of a Kaimoana Restoration Programme to mitigate the effects on local seafood especially the pipi beds, the setting up of tertiary and post graduate research to promote better environment health in the harbour.

The port's shares increased 0.3 percent to $13.74 today, and have gained 6.3 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Finance: Major Campaign To End "Gross Overtaxation Of Savings"

The campaign – which includes a special web site through which New Zealanders can e-mail their own and other MPs and party leaders – is backed by Age Concern, Consumer NZ, the Financial Services Council and the Taxpayers’ Union. More>>

ALSO:

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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