That multiple makes the stock expensive he says. For more information visit covid19.govt.nz. It's chalk and cheese," he says. Contact. Mostly initially from Auckland through [our] Metroport then through the big ship strategy. The port also had to ensure its operations on land could handle the expected big increase in cargo, particularly containers, and that long-term contracts were secured with the likes of Oji Fibre Solutions, Kotahi (dairy) and Zespri (kiwifruit) to continue to drive container volumes to the port. The critics, of course, are other ports. COVID-19 information: Face coverings are required on all New Zealand domestic flights from 19 November 2020 until further notice. But they're a mix worth exploring, when working out what makes him tick. Cairns, 56, isn't the one making a meal of his qualifications. LEARN MORE. "I've always said that if ports simply priced an investment to achieve a cost of capital return, a natural hierarchy of ports would emerge quite quickly. The Tauranga Energy Consumer Trust, which owns 26.8% of Trustpower, also deserves an honourable mention, having distributed dividends of about $400 million to consumers and community groups since 1993. We welcome your suggestions on how we can improve or expand the information we have available. Jewel in the crown. "For a company of our size with a $2.5 billion market cap at the time, to embark on a $350m capital expansion programme was a big commercial risk. Jon Safey is a Nelson based Professional Director and Consultant. That's why he also has master of management and bachelor of business studies degrees, qualifications which have helped develop his people skills – right brain territory. But the port company is the jewel in the crown. It operates wharves at Tauranga, Mount Maunganui and Timaru, as well as MetroPort, a rail-linked inland port in South Auckland. Tauranga Airport features a new check-in area, open space seating, extended views to the runway, and a new café, providing a welcoming space for passengers and visitors. It's shareholders' money. More immediately, discussions are under way with potential new import car customers, and dairy and bottled water exporters in the eastern Bay of Plenty. The Port of Tauranga’s dividend policy is to steadily increase dividends year on year consistent with Company performance. "If you look at this [2018 year] result, most of the growth in containers has come from trans-shipments – containers from other ports around the country. Craigs Investment Partners head of wealth research, Mark Lister, says the strategy has been executed "very well". He says "a lot of sweating" also went into the port's ambitious play to accommodate the world's biggest cargo ships, via a six-year, $350 million capital expansion programme to seal its future as New Zealand's premier freight gateway and hub and feeder port. Menu. One day his blue Holden was parked in Port Rd when Beach Hop organiser Noddy Watts walked past. Phone: +64 7 572 8888: Tauranga Container Terminal. The strategy is paying off. "I like the transparency that every dollar you spend is not your own. Photo / File. We're continuing to work hard to keep the supply chain running as we move to COVID-19 Alert Level 2. "Surprises really infuriate me," says Cairns. The vessel SPIRIT OF MELBOURNE (IMO: 9362413, MMSI: 232013521) is a Container Ship that was built in 2007 ( 13 years old ). Providing access was only part of the job. We hold investments in other New Zealand ports, stevedoring, marshalling and logistics companies. The estimated time of arrival as calculated by MyShipTracking vessel tracking app is 2020-12-04 05:05 LT . MPI Approved transitional Facility Number: Recruiters say engineers make particularly effective chief executives, and Cairns, who has a bachelor of engineering (civil) with first class honours, says he's always been more interested in building people than building bridges. "The moment I get a feeling from the board or shareholders that it's time for a fresh set of eyes, I'll be off and pursue a professional director career. It's actually a faster service (for Asia-bound cargo) to come up from Napier to here. "It was a lot of money and the board put a lot of commercial tension around it.". More than 90 per cent of staff own shares in the company. ', I … Advertisement. Morrison, who owns and operates Pak’n Save Tauriko at the centre, says the store has already outperformed his expectations. Carter Holt owns pulp and paper mills at Tokoroa, Kawerau and Whakatane. Asciano is a major Australian transport operator with revenue of A$3.4 billion in the year to June 2012. He currently holds a number of directorships in port related companies. Port of Tauranga. Lister doesn't pull his punches: "Some of those council-owned ports across New Zealand are an embarrassment in terms of their returns to ratepayers or being run efficiently.". • Port of Tauranga’s purchase includes all plant associated with the container terminal including cranes, forklifts and mobile plant • Port of Tauranga will, through a wholly owned subsidiary, the Timaru Container Terminal Limited, lease and operate the container terminal. Lister says Gray has been a "very capable right-hand man" for Cairns. He likes the fact that the share register has plenty of mum and dad investors. PORT OF TAURANGA. Steven Gray. We had to back ourselves to attract that cargo. So what's next for this company, which Lister says has delivered "an exceptionally good" track record of earnings and dividend growth? It's been a drag on ratepayers. Home; Parking. The port company owns 190 hectares, compared with Ports of Auckland's 75ha, and within that land holding Tauranga has 40ha, presently on short term rental, available for development. In late 2016, following completion of dredging to deepen and widen the port's shipping channels, the first of the monster ships tied up at Tauranga, the only New Zealand port able to accommodate them on international services. Port of Tauranga. Close to several major arterial routes, with a train link to the Tauranga container terminal and its own railway siding, MetroPort is a customs bonded area and fully licensed Ministry of Agriculture and Forestry site. Port of Tauranga Limited - Financial Statements. If you run it commercially the market will sort itself out," he says, noting official statistics which say 70 per cent of New Zealand's export-import demand comes from the Waikato and north. She’s been with Port of Tauranga, New Zealand’s largest and most efficient cargo gateway, since 2019 and absolutely loves it. We've made great strides with getting rail to work for us properly. But it doesn't sound as though any associate firm or subsidiary which sprang a surprise which affected continuous disclosure would get to do it twice. Phone: +64 7 572 8761: Fax: +64 7 546 9685: Email: Metroport Auckland. It's 11 days from here to North Asia.". Port of Tauranga invested $21 million to buy half of PrimePort in 2013, and set up an inland freight depot at Rolleston over the road from Lyttelton Port's depot to divert more trade to Timaru. The Port of Melbourne is the largest port for containerised and general cargo in Australia. pie_chart Port of Tauranga Limited Financial Profit & Loss Account. An unpublished feature of the strong financial result was an offer to staff of an interest-free loan for three years to buy $5000 worth of shares at a 30 per cent discount. "I don't think it'll be in FY19, but pretty sure there's growth there in cargo in FY20 for us.". Jon Safey. Ports of Auckland owns a fifth of Marsden Maritime Holdings, which owns the port at Marsden Point. Back in his office overlooking the waters off Mt Maunganui after briefing analysts in Auckland and Wellington, he can take a breath and happily contemplate donning his scuba gear for the start of the scallop season, and summer fishing at his favourite spot off Motiti Island, 12 nautical miles away. "For the local council it's been an exceptional investment.". Cairns says he has a "fantastic" chief financial officer in Steve Gray, CFO of the year in Deloitte's Top 200 awards last year. Virtually all our growth has come from catchments outside the Bay of Plenty region. No-one could call the water sports fan and petrolhead a big noter. The latest financial results showed the hub port role gaining momentum, with trans-shipments from other New Zealand ports and Australia up 23.3 per cent on the previous year, container volumes up 8.9 per cent, a 13.7 per cent lift in imports and an 8.2 per cent rise in exports. This week Port of Tauranga raised $100 million through a five-year fixed-rate wholesale bond issue at just 1.02 per cent. I feel incredibly privileged to have had this opportunity. Search × Search. While it would be easy for Cairns to dismiss sniping from ports that earn dismal returns on equity (Tauranga's is 9-plus per cent) but still promote grand spending plans, he is frustrated that the sector "doesn't have good capital disciplines".
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