Ports of Auckland first half profit up 19%

Ports of Auckland first half profit up 19%

Related Stories •   Port of Tauranga’s first half profit down 4.8%

Ports of Auckland Ltd., managers of the New Zealand North Island port, on Monday reported a net profit of NZ$12.6 million ($10 million) for the half year to Dec. 31, up 19 percent compared to NZ$10.6 million in the same period a year before.
   Jens Madsen, Ports of Auckland managing director, said the “relatively satisfactory result” reflected good growth in container volumes over the six-month period, with volume up 20 percent at 427,867 TEUs.
   'Shipping line and service changes have impacted volume flows for many New Zealand ports, some of which have benefited Auckland during the six-month period under review,' Madsen said.
   'While such changes have been and still are the norm of the shipping industry we expect the current volatility to remain throughout 2008.'
   The port’s non-containerized cargo volumes were down 13 percent in the first half to 1.9 million tons.