Ports of Auckland reported a gain in net profit after tax for the six months to 31 December 2014, at NZ$28.9 million compared to NZ$26.4 million. Earnings before tax fell to NZ$33.6 million from NZ$36.1 million, attributed to the timing of repairs and maintenance spending and the costs associated with the flow-on effect of off-schedule ships, largely due to congestion at overseas ports.
Ports of Auckland is embarking on a capital investment programme to meet higher demand from freight volumes. Cement imports are expected to more or less double in 2016, so the multi-cargo business is extending two berths on Bledisloe Multi-Purpose Terminal to provide sufficient capacity for future growth. Construction on this project will begin in April and be completed by late 2016.
Part of the reason for the increase in cement imports is the withdrawal of Holcim from the country as it switches to an import-only business model, closing its production facilities. The company is building a new NZ$50 million cement import terminal in Timaru near Christchurch to accommodate this change in strategy. Construction of the terminal has already begun and is scheduled to be completed by the first quarter of 2016.
Adapted from press releases by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/20022015/ports-of-auckland-prepares-for-increase-in-cement-imports-377/