Port of Tauranga Sees Strong Growth in First Quarter Despite Covid Disruption

Port of Tauranga, New Zealand’s largest port, today reported a 6.9% increase in total trade to 6.8 million tonnes in the first quarter of the 2022 financial year.

Exports increased 5.3% to 4.3 million tonnes and imports increased 9.8% to 2.5 million tonnes.

Container volumes increased 8.1% to 310,997 TEUs[1].

Log export volumes increased 2.4% to 1.6 million tonnes.  Direct dairy exports increased 6.7% in volume and kiwifruit exports were also strong, up 7.1% on the first quarter of last financial year.

Port of Tauranga Chief Executive, Leonard Sampson, told the Company’s Annual Meeting of Shareholders today that the results demonstrated the impact of congestion over the last 12 months, with some cargo being shipped in the first quarter that would usually have been shipped earlier.

Container terminal productivity has improved significantly over the first quarter, although there are still delays in transferring some import cargo to Auckland, he said.

“While we are still experiencing major disruption to the international supply chain, with the majority of container ships arriving off-window, we have been able to process more vessels and larger volumes of cargo compared with the same quarter last year,” he said. Ship visits increased 7.5% to 360.

“The near future remains uncertain due to the ongoing impacts of the Covid-19 pandemic, including the effects of the extended lockdown in Auckland and labour shortages being experienced across multiple industries,” said Mr Sampson.

“Based on the first quarter’s performance, and notwithstanding any significant market changes, we expect full year earnings to be between $103 million and $110 million.”

For more information, please contact:

Leonard Sampson
Chief Executive
Port of Tauranga Limited
Ph: (07) 572 8830

Rochelle Lockley
Communications Manager
Port of Tauranga Limited
Ph: 021 865 884

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[1] TEUs = twenty foot equivalent units, a standard measure of shipping containers