Auckland Port wants larger share of merger with Tauranga

By NZPA

Friday 24th November 2006

The owner of Ports of Auckland is eyeing a larger share in a proposed merger with Port of Tauranga, following the decision by shipping giant Maersk to focus its operations on the more northerly of the two operations.

Mike Lee, chairman of the Auckland Regional Council, which owns Ports of Auckland, said the Maersk decision meant the Auckland company should have a majority stake in the merger, The New Zealand Herald reported today.

He said the Maersk decision -- to run most of its North Island services through Auckland, with Tauranga still getting some services -- "highlights the unacceptability" of reports that Ports of Auckland would own a third of the merged port.

Ports of Tauranga was expected to own a third, and private investors the remaining third.

Port of Tauranga chief executive Mark Cairns said Lee's comments were "unfortunate".

"Those are issues for the boards to work through."
Port of Tauranga has said the decision would cost it up to $1 million a month.

Lee said the Maersk decision increased the value of Ports of Auckland and Auckland Regional Holdings, the ARC company that owns the ports.

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