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New business boost for POT

By Phil Boeyen, ShareChat Business News Editor

Wednesday 28th March 2001

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Port of Tauranga (NZSE: POT) is forecasting considerably increased container volumes after picking up business from a rival port.

POT says shipping line FESCO New Zealand Express Line has decided to make Tauranga the only North Island port of call for its fixed day weekly service to the Far East.

The port says the decision to call at Tauranga instead of Auckland will see a surge in container volumes at the Port of Tauranga and considerable growth in Metroport Auckland's business.

"The move is expected to boost container movements at the Port of Tauranga by more than 20,000 TEUs - an increase of at least 8% over current volumes," the company says in a statement.

Chief executive, Jon Mayson, says the shipping line's decision reinforces the port's decision to invest in the further development of its fully integrated Metroport Auckland inland port service.

In the six months ended December volumes at POT rose 30% on the previous year to nearly 140,000 TEUs.

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