Ports of Auckland reports profit, wants Maersk to commit

Friday 11th March 2011

Ports of Auckland Ports said earnings before interest and tax rose 4.8% to $30.7 million in the six months to December 31 from a year ago, as revenue rose 7% to $87.7 million.

Normalised profit after tax and interest charges was $14.0 million, up from $13.9 million in the previous year.

The port handled 453,498 twenty-foot equivalent units (TEU) containers in the six months to December 31, a 3.4% rise on the year earlier.

Container imports rose 6.1%, suggesting consumer demand was good in the upper North Island in the period. Container trade volumes were steady in January and February compared with the same months last year, though trans-shipment volumes continued to trend positively for the port.

Bulk and breakbulk volume rose 40% to 1.88 million tonnes in the six months from a year ago. This includes a 23.8% increase in imported vehicles.

Total ship calls for the period were 761, two fewer than during the same period last year.

Chief executive Tony Gibson said Ports of Auckland was trying to secure a long term contract to handle Maersk Line container volumes. Maersk New Zealand was a major contributor to container volumes and the port wanted a long term commitment so it could invest in future growth.

"The trading environment in New Zealand and abroad remains challenging, however, and indicators suggest moderate import volumes with growth expected only later in the calendar year," Gibson said.

Cruise ship bookings were strong, and continued growth in servicing that sector was expected.

NZPA

Comments from our readers

No comments yet