Port of Tauranga is budgeting on moving more than 1.2 million containers across its wharves in the current financial year.
The company, which reported 8 percent cargo growth in the September quarter, handled the equivalent of 1.18 million 20-foot containers in the June year, almost 9 percent more than a year earlier.
In a presentation to investors, the port indicated it may handle about 1.25 million containers this year. September quarter volumes were 0.7 per cent higher at 296,000 containers. Bulk cargoes, including logs, fertiliser and fuel, are budgeted to get close to 12 million tonnes this year, from about 11.7 million in the past year.
Port of Tauranga is the country's largest and also has interests in Northport and PrimePort Timaru. Last month, it forecast full-year net profit of $96 million to $101m, from $93.4m in the June year.
It is benefitting from strong on-going forestry and horticulture growth in the upper North Island, strong demand from China for New Zealand products, improved rail services with Auckland and Hamilton, and increased hubbing volumes around the coast.
Port of Tauranga shares were unchanged at $5.10 today. They have gained about 4 per cent so far this year.
Source: NZ Herald
