A new cargo storage warehouse at Marsden in New Zealand will help Northport deal with its increase in on-port log storage, which has already given the company a lift in revenue this year. Sources: The Northern Advocate, The New Zealand Herald
Marsden Maritime Holdings (MMH) recorded a net surplus of NZ$8.390 million for the year ended 30 June, 2015.
This was up slightly on the previous year’s result of NZ$8.334 million. The strong performance, according to MMH chairman Sir John Goulter, “was underpinned by the strong financial performance of its investment in Northport.”
He said overall cargo volumes were down by approximately 3% at 3,183,000 tonnes from last year.
MMH was established in 1988 as Northland Port Corporation and is owned by Northland Regional Council (53.61%); Ports of Auckland (19.9%); individual and institutional investors (26.49%).
MMH owns 50% of Northport Ltd, while Port of Tauranga owns the other 50%.
Northport handled 2,460,000 tonnes of logs during the year, which was similar to the previous year’s numbers.
However, an increase in storage revenues from higher volumes of cargo stored on-port throughout the year has allowed the company to improve earnings.
MMH was due to start construction of a large bulk warehouse shortly to boost cargo flows through Northport.
The Marsden warehouse would be built by the first quarter of 2016 and leased to “a major international bulk commodities trading entity”.
MMH chief executive Graham Wallace said the company had achieved a substantial lift in occupancy levels at the Marsden Cove marina and commercial complex.
The latest tenant to arrive at the Marsden Point was Resource Enterprises Ltd (REL), a new sawmill.
REL takes industrial grade logs and exports the flitch (slabs of timber cut from the tree trunk) to Saudi Arabia According to Northland Inc, the mill is expected to employ around 20 people under full production and have an estimated economic impact of approximately NZ$20 million.
The regional economic agency recently stated that the company’s use of containers for shipping the flitch was instrumental in Northport decision to buy a new $5 million crane for handling containers.
The new German-made mobile harbour crane will allow Northport to load container ships that would then transport the containers from Marsden Point to other New Zealand ports or directly overseas.
