Within that, full import volumes were up 6.1%. Port volumes suggested a better Christmas was had by those on the receiving end of consumer spending in the Upper North Island, but that conditions were still challenging, according to Chief Executive Mr Tony Gibson. Bulk and breakbulk volume at Ports of Auckland was up 40% to 1.88m tonnes, reflecting a good recovery of volumes across all categories, along with the gaining of additional “project” cargo. Within breakbulk volumes, vehicle volumes (as measured in units) were up 23.8% to 77,662. Total ship calls for the period were 761 – two fewer than during the same period last year. Mr Gibson said cruise ship bookings were strong, and continued growth in servicing that sector was expected. Ports of Auckland’s earnings before interest and tax was $30.7m (up 4.8%) assisted by a lift in revenue of 7% to $87.7m. Normalised profit after tax and interest charges was $14.0m ($13.9m). After taking into account deferred tax adjustment, impairment costs and the impact of cash flow hedge movements, comprehensive income was $10.5m ($13.2m). In what is an extremely competitive environment, Ports of Auckland is continuing to work to secure a long term contract to handle Maersk Line container volumes, Mr Gibson said. Maersk New Zealand is a major contributor to overall container volumes through the Port. “Long term commitments are crucial for the port to be able to plan and invest for future growth,” Mr Gibson said.
Outlook
Mr Gibson said 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. Forward bookings for cruise visits were encouraging and vehicle imports volumes were strong. “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,” Mr Gibson said.