Port of Tauranga container volumes may rise 25%

Article – BusinessDesk

Port of Tauranga sees container volumes rise as much as 25% this year on new services

Port of Tauranga sees container volumes rise as much as 25% this year on new services

Aug. 29 (BusinessDesk) – Port of Tauranga says container volumes will rise as much as 25% this year, reflecting new services including a fortnightly visit from Mediterranean Shipping Co. linking New Zealand and Australia with North and Central America.

MSC, the world’s second-largest container line by capacity, announced it would start its Oceania Express Service in October, with Tauranga its only New Zealand stop. It plans to trans-ship cargo from six other New Zealand ports using its Capricorn, Kiwi and Pacific Island services, said MSC national operations director Mark Godfrey, in a statement.

Port of Tauranga said 40% of the forecast container volume increase this year would be from trans-shipped cargo. It claims growth in that business as a victory over rivals such as Ports of Auckland because the trend for ship visits is likely to be fewer, larger vessels calling at fewer ports.

In the year ended June 30, Tauranga’s container trans-shipment volumes jumped 52%. While Tauranga claims the crown of biggest port by volume overall, the 590,506 TEUs (twenty foot equivalent units) it handled in the latest year lags behind Auckland’s 894,383 TEUs.

Tauranga had already flagged five new weekly vessel calls to its port this financial year, adding 180 extra visits a year, allowing for consolidation of some services, the company said.

Shares of Port of Tauranga traded on Friday at $9.30 and have climbed 25% this year.

(BusinessDesk)

Content Sourced from scoop.co.nz
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