"I've had a pretty good innings. Supplementary dividends offset the effect of non-resident withholding tax. The 5,500 square metre store employs around 140 staff and thanks to Tauranga Crossing’s positioning near three major highways, welcomes customers from a total trade area of 284,370 shoppers. "It was a lot of money and the board put a lot of commercial tension around it.". The vessel SPIRIT OF MELBOURNE (IMO: 9362413, MMSI: 232013521) is a Container Ship that was built in 2007 ( 13 years old ). He recalls a former boss, the late Sir Robert Owens, saying "if you don't make a mistake from time to time, you're not trying hard enough.". It accounts for 43% of the Bay’s gross regional product and 6.6% of New Zealand’s GDP. Steven Gray. Tony is a former senior executive of the Port of Tauranga with 30 years’ experience in port developments, property, and commercial contracts. Craigs Investment Partners head of wealth research, Mark Lister, says the strategy has been executed "very well". Cairns says that, at a time when the company is trading on a price-earnings multiple of nearly 40, "the last thing you want to do is under-shoot your guidance". Advertise with NZME. 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. The New Zealand port sector isn't for the fainthearted. Home; Parking. That's proven not to be the case. He currently chairs Rangatira Ltd, Douglas Pharmaceuticals Ltd, Northport and Port of Tauranga Ltd. David is also currently a trustee of New Zealand Community Trust. 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". Mount Maunganui 2740, First Quarter Cargo Volumes Impacted by Covid-19, Port of Tauranga to issue $100 million of wholesale bonds, Port of Tauranga Chief Executive Announces Retirement, Revised Rules for Port Workers' COVID-19 Testing. "There's quite significant cargo potential there," says Cairns. "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. Trade Me was publicly listed as a separate entity … Establishing an intermodal freight hub at Rolleston will provide South Island exporters with the option to efficiently access Timaru and similarly, importers in the Christchurch area will have the option to ship through Timaru. The Port of Tauranga is 54% owned by the Bay of Plenty Regional Council. Jewel in the crown. The Port of Tauranga’s dividend policy is to steadily increase dividends year on year consistent with Company performance. Cairns says he has a "fantastic" chief financial officer in Steve Gray, CFO of the year in Deloitte's Top 200 awards last year. This week Port of Tauranga raised $100 million through a five-year fixed-rate wholesale bond issue at just 1.02 per cent. Jon Safey is a Nelson based Professional Director and Consultant. Ports of Auckland owns a fifth of Marsden Maritime Holdings, which owns the port at Marsden Point. Port of Tauranga is exactly the opposite." Port of Tauranga Ltd chief executive Mark Cairns said the agreement was beneficial for both parties. Menu. "I don't think it'll be in FY19, but pretty sure there's growth there in cargo in FY20 for us.". The estimated time of arrival as calculated by MyShipTracking vessel tracking app is 2020-12-04 05:05 LT . 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. 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. We're continuing to work hard to keep the supply chain running as we move to COVID-19 Alert Level 2. "These big ships and their economies are just too well established now. 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. "Surprises really infuriate me," says Cairns. "He said 'who owns the Holden? 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've made great strides with getting rail to work for us properly. Lyttelton Port was listed between 2008 and 2013 when the Christchurch City Council repurchased the shares. Trade Me is an internet auction website operating in New Zealand.Managed by Trade Me Ltd., the site was founded in 1999 by New Zealand entrepreneur Sam Morgan, who sold it to Fairfax in 2006 for NZ$700 million. And he likes the commercial approach to business that a mixed ownership model requires. "Ports of Auckland has basically been subsidised by poor old Auckland ratepayers for a long time, continuing to under-perform and under-deliver. It's shareholders' money. Manager: +64 9 583 9688 (internal ext 90688) Email: Shuttle Select. There have been a few of those stresses in recent years. 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