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A record volume of cargo has passed through New Zealand’s South Port for the second consecutive year, reported The Southland Times.
The Bluff-based port's performance figures for the 2011-12 financial year showed an after-tax profit of US$4.86 million, a slight decrease on last year's result of $5.08 million.
A record annual tonnage of 2.69 million tonnes was achieved by the port in the year till June.
The report shows fertiliser tonnages remained at an all-time high, while petroleum matched the record cargo levels of 2005.
The cargo volume gains together with stock food, sawn timber and woodchips outweighed tonnage declines in logs and imported products used by NZ Aluminium Smelters, which had reduced production by 15 per cent.
Containerised cargo activity was stable in the 2012 year but the global container shipping market had sustained significant losses.
At the start of the financial year, port management expected to be 15 per cent down on profit but as year progressed it managed to gain growth in cargo.
Cargonews Asia
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