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

 

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:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Inflation: CPI Increases 0.3 Percent In June Quarter

The consumers price index (CPI) rose 0.3 percent in the June 2014 quarter, Statistics New Zealand said today. This follows rises of 0.3 percent the March quarter and 0.1 percent in the December 2013 quarter. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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