POT Annual Meeting: Chair & CE’s Address

PORT OF TAURANGA ANNUAL MEETING 2020
1pm, Friday 30 October 2020
Chair – David Pilkington
I am pleased to present a summary of our performance for the year to June 2020.
Port of Tauranga remains New Zealand’s largest and most productive port and we offer the
most reliable, most efficient and lowest carbon emission supply chain for international
shippers. We now handle around 32% of all New Zealand cargo, including 37% of New
Zealand exports and 41% of all shipping containers.
Our total cargo volumes for the year ended June 2020 reached 24.8 million tonnes. This was
a 7.9% decrease on the previous year, and was largely driven by a drop of almost 22% in
export log volumes when forestry was deemed a non-essential sector during the Covid-19
lockdown.
Despite the ongoing disruption caused by Covid-19, containerised cargo volumes increased
1.5% to 1.25 million TEUs for the year.
Transhipments, where containers are transferred from one service to another, remain strong
and are evidence of Tauranga’s pivotal role as New Zealand’s main international hub port.
Transhipped containers represent nearly a third of all the containers handled at Tauranga.
Group Net Profit After Tax was $90.0 million, compared with last year’s record result of $100.6
million.
Revenue dipped 3.6% to $302.0 million, down from $313.3 million last year. Group EBITDA
was $166.5 million, a decrease of 8.1%.
We were very pleased with the overall performance of our subsidiary and associate
companies. Despite the impact of Covid-19 in the second half of the financial year, their
earnings were up 18.4% to $14.1 million.
PrimePort continues to invest in building capacity and its channel widening andits purchase
of anew tug have allowed larger vessels to visit the Timaru Container Terminal, which is
operated by Port of Tauranga.
In light of the Covid-19 pandemic and its inevitable economic fallout, the Board has reviewed
its dividend policy. We decided to suspend the special dividend scheme, and use the funds to
accelerate capital expenditure to provide for future growth demand.

2
We are maintaining our existing ordinary dividend policy, which is to pay between 70% and
100% of Underlying Net Profit After Tax. The Board has declared a final dividend of 6.4 cents
per share for 2020, which brings the full year ordinary dividend to 12.4 cents per share – that’s
90% of Underlying Net Profit After Tax.
Since year end, we completed a successful bond issue, with $100 million of bonds issued at
extremely favourable rates in an institutional bookbuild by BNZ in September. The interest
rate for the Five Year Fixed Rate Notes is 1.02%, a margin of 0.9% per annum over the
underlying swap rate.
Our diversity of cargoes and income streams, our strong balance sheet and our ongoing
attention to costs all helped us through the initial impact of Covid-19.
Our partnerships remain strong and are integral to our future success. We have extended our
strategic alliance with Kotahi, New Zealand’s largest containerized freight exporter.
Our renewed freight agreement extends Kotahi’s volume commitment for an additional seven
years, through to mid-2031. This is a significant quantum of cargo, as Kotahi manages freight
on behalf of more than 40 of New Zealand’s importers and exporters, including Fonterra and
Silver Fern Farms.
This alliance with Kotahi has already brought significant benefits to New Zealand. When it was
formalized in 2014, it paved the way for the introduction of the next generation of larger, more
efficient container ships – and with them a significantly lower carbon supply chain.
In September 2019 we celebrated the 20
th
anniversary of MetroPort, which gives Auckland
shippers easy access to the big ship services that only call at Tauranga. MetroPort was the
country’s first true intermodal inland port.
We’ve gone on to replicate the model at our MetroPort Christchurch facility at Rolleston, and
we are now partnering with Tainui Group Holdings to develop the Ruakura Inland Port in
Hamilton.
We have formed a joint venture to develop the 30 hectare inland port in the heart of a 192
hectare logistics and industrial hub. Ruakura is connected by rail to both Auckland and
Tauranga and will enable us to better serve Waikato-based importers and exporters.

3
The ongoing saga of the future of Ports of Auckland continues. It has been two and a half
years since the Government announced the Upper North Island Supply Chain Review as part
of the coalition agreement between Labour and New Zealand First. The review working group
recommended that Ports of Auckland’s cargo volumes be shifted to Northport.
The Government then commissioned a further report from economic consultants Sapere, who
concluded that - notwithstanding potential engineering and consenting issues - a new port on
the Manukau Harbour was seen as the best option for Auckland cargo, with the second best
option being Port of Tauranga.
Further discussion and review of the Sapere Report by officials was postponed until after this
month’s election, so we will wait to see what action – if any – is taken by the new Government.
Forgive me if I sound a little weary of this topic – the Sapere report is the latest of more than
20 reports to examine this issue in the last 15 years. I’ve said it before and I will say it again -
if all port companies simply priced and invested to achieve a cost of capital return, a natural
hierarchy of ports would emerge quite quickly.
We continue to urge the Auditor-General to put closer scrutiny on business cases for large
infrastructure projects. We seek a return of at least 7.5% after tax on capital investments, but
some of our peers do not appear to apply any such rigour and continue to make uneconomic
investment decisions.
A number of companies, and their owners, seem to ignore the Port Companies Act
requirement to act and operate as a successful commercial business.
In the meantime, Port of Tauranga continues to increase capacity without increasing our
footprint. International experts have told us that we can accommodate around 2.8 million TEUs
per year on our current landholdings, albeit with some investment. We took delivery of our
ninth container crane and seven new straddle carriers, including three battery hybrid models,
at the beginning of 2020.
As we described last year, berth capacity is the biggest current constraint to further growth in
container volumes. Our planned berth extension, to the south of the existing container
wharves, will create a fourth berth.
With the addition of additional ship-to-shore cranes, straddle carriers and automated stacking
cranes, we will be able to more than double the amount of container cargo handled through
the terminal.
The future freight handling capacity of inland freight hubs will also help us increase our
capacity.

4
Mark will give a comprehensive update about our environmental initiatives in his address, but
I would just like to acknowledge the significant progress we are making in this area.
Overall carbon emissions reduced 15.3% over the year and decreased in every business unit.
We also continue to invest in improving both air and stormwater quality.
We are pleased that the international imposition of low sulphur fuel standards has had an
immediate measurable effect on air quality in and around the port.
De-barking of export logs has also reduced the amount of methyl bromide fumigation required,
with use dropping over a third in volume.
During the year two of our senior executives retired - Corporate Services Manager Sara
Lunam and our widely recognised Chief Financial Officer Steve Gray.
Steve was with the Company for 33 years, 13 of them as CFO. While we will miss his presence
on the senior management team, we are pleased to have retained his services through
governance roles with our associate companies.
The Board was very pleased to make an internal appointment to the CFO role, with our long-
serving IT/Finance Manager, Simon Kebbell, officially taking over the role on 1 July.
This is the last annual meeting of Port of Tauranga shareholders for our widely respected
Chief Executive. Mark will be retiring, after 15 years with the Port, in June of next year, at the
end of the 2021 financial year.
The CEO role will also be filled by an internal appointment. As I shared with you last year, the
Board has put a strong emphasis on succession planning and our Chief Operating Officer,
Leonard Sampson, has been named CEO Designate in anticipation of Mark’s retirement.
Leonard has been with the Company for seven years, following roles at KiwiRail, Carter Holt
Harvey and Mainfreight.
It is a reflection of our bench strength that we have been able to make internal appointments
to these two roles, and there is a strong team to lead the Company into the future. Our Group
Health and Safety Manager of the past seven years, Pat Kirk, and Communications Manager,
Rochelle Lockley, have also joined the Senior Management Team. We have recently made a
couple of strong external appointments too, with Commercial Manager Blair Hamill joining us
from Zespri, and new Corporate Services Manager Melanie Dyer joining us from Trustpower.

5
When I was re-elected as Chair in 2017 I indicated it would likely be my last term. Given the
recent retirement of our CFO, and Mark’s impending departure, the Board asked that I
consider standing again this year to assist with the senior management transition before
handing over to a new Chair. As you will note from the Notice of Meeting I have agreed to this
request and I will elaborate further when we come to that part of the Agenda.
Before I hand over to Mark, I would like to take a moment to reflect on some of his remarkable
achievements in the last decade and a half.
When Mark was appointed as Chief Executive in 2005, Port of Tauranga handled just 12.6
million tonnes of cargo each year and just over 430,000 TEUs. In the year to June 2020, the
Port handled double those cargo volumes and treble those container volumes.
This incredible growth has only been possible because of our very strong relationships with
our customers and suppliers. Mark has kept the Company strongly focused on future
opportunities and planning for the future.
He has also led the Company to an industry-leading safety record and the highest productivity
rates in Australasia.
During Mark’s tenure, the average compounding Total Shareholder Return has been 19% per
year, with market capitalization increasing by $4.4 billion, from $665 million to $5.1 billion.
He’s won several accolades, including Chief Executive of the Year in the 2012 Deloitte Top
200 Business Awards, and the prestigious Caldwell Partners Leadership Award in last year’s
Institute of Finance Professional Awards.
However, I know that the one thing Mark is most proud of, apart from his fishing skills of course,
is the Port of Tauranga team. The people who come to work at all hours and in all weathers,
to keep New Zealand’s cargo moving.
My sincere thanks to Mark, the rest of the Senior Management Team, my fellow Directors, the
Port team and many contractors for the commitment and dedication to this Company – I
especially want to acknowledge all of the staff that continued to ensure, despite the Covid-19
lockdown, that Port operations were able to continue smoothly in the light of the extraordinary
challenges.
I’ll now hand over to Mark to share his reflection on the past financial year as well as the ones
ahead.

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1
PORT OF TAURANGA ANNUAL MEETING 2020
1 pm, Friday 30 October 2020
Chief Executive – Mark Cairns
Kia ora tatou. Good afternoon Ladies and Gentlemen and thank you David for your kind words.
Before I offer some thoughts in response, I will share some of the operational highlights for
the year.
As the Chair has outlined, it would certainly be an understatement to describe 2020 as a
tumultuous year. Our systems, processes and people were tested in a myriad of ways. And
David is right, it is our people that I am most proud of.
Through a number of pieces of legislation, Ports are defined as“essential services” and
consequently our people“essential workers”, which meant our staff didn’t get to have a month
of unplanned holiday, back in March.
Most of our frontline team were very anxious about being required to continue working through
the lockdown and not only concerned for their own health, but more so for the health of their
families back in their homes. However, our staff showed great courage and stepped up;
utilised Personal Protective Equipment to a much higher standard than required by the Ministry
of Health at the time, and ensured that essential cargoes kept moving, including the medical
and Personal Protective Equipment supplies that the country desperately needed and also
ensuring that our food exports such as kiwifruit, dairy, and meat exports kept flowing.
Daily procedures included temperature checks at gate-in, the wearing of N95 masks and nitrile
gloves, social distancing and separating into different workgroup pods to remove any potential
cross-contamination, close attention to hand hygiene and frequent surface sanitisation of
vessels, machinery, and offices. Today, our frontline workers such as our pilots continue to
operate on the other side of the border at Level 4 standards, despite the country now being in
Level 1.
During the lockdown, we also utilized our in-house resources and Liebherr technicians located
up in Killarney, to remotely commission our ninth container crane.
The crane arrived in parts from Ireland in mid-February, was assembled on site, then rolled
several hundred metres out on to the berth crane rails, and was then lifting containers and
earning revenue within 13 weeks from being unloaded off the ship.
Ironically during lockdown, the container terminal team set a new record container exchange
on a single vessel, eclipsing the previous record of just under 7000 boxes, by more than a

2
third and exchanging 9,367 TEUs on the Sally Maersk, one of the largest vessels calling New
Zealand, that can only get into the deeper shipping channels of Tauranga.
Despite these Herculean efforts, Covid-19 has inevitably impacted our cargo volumes and
financial results for the year.
Exports for the year ended June decreased 8.0% to 15.8 million tonnes, mostly due to a 22%
reduction in log exports. It was a challenging rollercoaster ride for our log exporters. In the first
half of the financial year, log volumes were hit by lower international prices and demand. By
March, positive signs were emerging in China, New Zealand’s major log export market, as
business there returned to normal after the extended Chinese New Year.
Just as demand was increasing, New Zealand went into Level 4 lockdown at midnight on the
25
th
March and forestry was deemed a non-essential industry. We were allowed to ship
inventory already on our Mount Maunganui wharves, but log cart-in came to a standstill and
did not resume through the port gates until early May.
As well as the drop in log volumes, sawn timber exports decreased 10.4% in volume. Pulp
and paper exports fared a little better, increasing slightly over the full year.
Dairy product exports increased 1.7% to nearly 2.4 million tonnes. Meat product exports
increased 15.4% in volume.
Overall import volumes decreased 7.8% to just over 9.0 million tonnes for the year.
Imported fertilisers remained steady in volume compared with the previous year.
Stock feed imports increased 20.1% in volume due to the prevailing drought conditions. Grain
imports increased 26.1% in volume.
Oil product imports decreased 12.3% in volume, reflecting the economic conditions.
Transhipment volumes remained steady despite the overall decline in cargo volumes.
Transhipped containers now represent nearly a third of all containers handled through the
container terminal.
We continue to see larger but fewer vessels. Ship visits decreased by 9.7%, from 1,678 in
2019 to 1,515 for the 2020 financial year.
Despite the premature and sudden end to the summer cruise ship season due to Covid-19,
we still hosted a total of 106 passenger vessels, just 10 fewer than last season. However, we
are not budgeting for any cruise ship visits this summer or even the following. Whilst this
doesn’t represent a significant amount of marine revenue for the Port, it is around $100 million
of cash receipts that will not be going into the Regional Economy.

3
Our people’s health and wellbeing is more important than ever. Our staff wellbeing
programme, ShipShape, continues to be well-received. It proved an invaluable platform for
promoting physical and mental health during the Level 4 lockdown, when most of our office-
based staff were working from home and our operational staff working in separate work pods.
I’m pleased to report that our safety performance has improved again this year, in both lead
and lag safety indicators. The combined Port of Tauranga and Contractors’ injury rate
improved 26% to 4.5 per million hours exposure and there is strong evidence of a proactive
safety culture, represented by the increased reporting of near misses and hazards by staff and
contractors. Last year there was a 240% increase in staff-led safety interventions. Our new
training and development programme, which is supported by an online learning platform, is
helping to upskill our team in these areas.
We remain Australasia’s most productive container terminal, with an Average Net Crane Rate
for the 2019 calendar year further improving to 34.4 moves per hour per crane, well ahead of
the New Zealand average of 30.1 moves per hour and the Australian average of 30.8 moves
per hour per crane.
Tauranga’s ship productivity rate was an average of 83.4 moves per hour, 34% ahead of the
national average of 62.3 moves per hour.
Our vehicle booking system is improving traffic flows into the container terminal by
incentivising truck visits outside peak hours. This helps us speed up cargo delivery and pick
up within the port gates as well as avoiding adding trucks to the peak hour traffic on roads
surrounding the port.
We continue to lobby for increased funding and better coordination of transport projects, and
we are currently contributing to the Western Bay of Plenty Transport System Plan.
Protecting our environment – and therefore our social licence to operate – is a big focus. We
are pursuing this on multiple fronts.
We are committed to sustainability and proud to have been named as a finalist in the Australia
New Zealand Certified Practicing Accountants Integrated Reporting Awards at which we were
highly commended in the“for profit” category of the awards.
As a country we need to accelerate the pace of action on climate change if we are to meet our
Zero Carbon aspirations. Port of Tauranga wants to make a meaningful difference in the task
to decarbonise our country and measuring, understanding and reducing our carbon emissions
is one way that we can contribute. As David has mentioned, we managed to cut overall
emissions by more than 15% compared to the previous financial year.

4
Much of the decrease has come through a waste minimisation programme, which reduced the
volume of waste going to landfill from our Mount Maunganui wharves by a whopping 48%.
Much more waste is being recycled instead, and we believe there are still further gains to be
made in this area.
All of our business units reduced emissions compared with the previous year. We achieved a
4% decrease in Scope 1 emissions, which are the emissions we directly control such as diesel
use by straddle carriers and our marine fleet. When we measure our intensity – that’s Scope
1, 2 and 3 emissions per cargo tonne, we managed an 8% decrease.
Our emissions are certified through the Certified Emissions Measurement and Reduction
Scheme, or CEMARS, and audited annually by Toitu Envirocare.
It is really important to us that our emissions reduction strategy is not based on hollow
promises. We won’t greenwash - the only way to make meaningful change is to break down
every part of our business to ensure we are making lasting and tangible changes.
We will invest in proven technology. When there is a lower emission option that is more
expensive, such as our new battery-hybrid straddles, we will use our carbon insetting fund,
where we have earmarked money we would otherwise spend on carbon credits to be used for
meaningful emission reduction investments. We are targeting all new light vehicles being full
Battery Electric Vehicles, or Plug in Electric Hybrid vehicles where we need a greater range. I
personally am now on my third Battery Electric Vehicle and can be considered a converted
EVangelist.
We favour rail transport over road because of the lower emissions. But the real gains to be
made in lowering supply chain carbon emissions is in the use of bigger ships. By far the largest
proportion of carbon emissions in New Zealand’s container supply chain relates to the “blue
water” or ocean-going component of the cargo journey.
By way of comparison, a container from China imported through Port of Tauranga on a big
ship service generates 20% fewer carbon emissions than one imported through Auckland,
even if you take into account the land transport leg.
If you shipped an export container from Hamilton to China, you could reduce your carbon
footprint by 29% by sending it out through Tauranga instead of sending it via Auckland.
Moving on to air quality, we have made significant progress in dust suppression, with an
efficient wharf sweeping regime now operating continuously and more stringent bulk cargo
handling procedures. Wind fences have been erected next to log handling areas and traffic
controls installed to confine vehicles and machinery to clean, swept roadways.

5
The international move to low Sulphur fuel for shipping – or the use of exhaust scrubbers –
has had an immediate effect on air quality when measured by Sulphur dioxide levels.
We fully support moves to phase out the use of methyl bromide as a fumigant, and we have
introduced financial incentives for bark removal on export logs prior to their arrival at the port.
De-barking minimises the amount of fumigation required and can even remove the need
altogether.
The amount of methyl bromide used at the port for container and log export fumigation has
dropped 37% in the past year as a result of de-barking and other alternatives. Fumigation
contractors Genera now utilize recapture technology on close to 90% of log fumigations and
100% of container fumigations.
Our stormwater resource consents require us to carry out additional water quality monitoring
and reporting, which has added a level of rigour to our efforts to prevent dust and log bark
debris from washing into the harbour during high rainfall. Screening chambers are installed on
stormwater drains, and steel fenders and rope bunds at the wharf face prevent any accidental
drops into the harbour.
Pleasingly, I have noticed a marked increase in environmental leadership across all our team
in recent years, and I can also report that most of the service providers and contractors
operating at the Port are showing a similar commitment.
We work closely with the three iwi holding mana whenua status in Tauranga Moana. Through
the two different scholarship schemes we administer, we supported 16 Maori tertiary students
with their studies in the past year.
We will continue to invest in projects, organisations and events that provide long-term benefits
to our community – examples being the Pilot Bay boardwalk, walking tracks on Mauao and
the floodlighting at Bay Oval.
In the past year we contributed dividends of $67.4 million to our main shareholder, Quayside
Holdings, which is Bay of Plenty Regional Council’s investment arm. Since Port of Tauranga
was listed on the NZX in 1992, Quayside has received a total of more than $860 million in
dividends from its shareholding.
This is on top of the $200 million Regional Infrastructure Fund that the Regional Council has
established via its shareholding, to help fund major capital investments throughout the wider
region. Funded projects include the marine precinct and tertiary education campus here in
Tauranga.

6
Looking to the future, we are seeing Auckland-based businesses moving to the Waikato and
Bay of Plenty due to the congestion and high costs of the big city. There are some large scale
commercial and industrial developments under way in the regions, including the Ruakura hub
development by Tainui Group Holdings in Hamilton.
There are also significant production facilities in the pipeline in the Eastern Bay of Plenty, and
Quayside Holdings has further progressed its development of an industrial hub at Rangiuru,
near Te Puke. In Tauranga, Winstone Wallboards have committed to relocate its factory from
Auckland to Tauriko in the next few years.
We are confident of growth over the long-term at the Port, and our ability to retain and grow
market share.
The outlook for the 2021 financial year has however presented a few short-term head winds.
In the first quarter, cargo volumes were around 5% lower than the prior corresponding period
last year. Containerised cargo decreased by 8% to 287,670 TEUs. Imports were the same as
the first quarter last year, and exports were down 8%.
Logs are performing in line with our forecast for 6.2 million tonnes this year, but remain
vulnerable to variable international demand. Dairy product exports decreased about 12%
compared with the same period last year, which is considered to be more of a timing issue.
Kiwifruit is the star performer, with volumes up 9% for the quarter.
Group Net Profit after Tax for the first quarter is flat as compared with the prior corresponding
period, which is considered a solid result in view of the Covid effects to this quarter’s result.
Covid makes it extremely difficult to forecast future trade flows, but at this stage, and
notwithstanding any significant change to market conditions, we expect full-year earnings to
be in the range of $86 million to $93 million.
Port of Tauranga is a long-run infrastructure company and we will continue to pursue capacity
expansion and greater efficiencies, in order to avoid the bottlenecks and congestion currently
being experienced in the Upper North Island supply chain.
We have a demonstrable track record of making sound commercial investments and hold a
very strong A- credit rating which was reconfirmed last month by Standard & Poors. We
believe we are well placed to weather whatever the Covid-19 storm throws at us next.
Before I wrap up, and as this is my last Port of Tauranga annual meeting – on this side of the
lectern at least – I’d like to take a moment to reflect on my 15 years with the Company.

7
I feel hugely privileged to have been given the opportunity to lead such a fantastic team of
people and I look back with immense pride at what we have been able to achieve. We have
grown Port of Tauranga from a small regional bulk export port, into the largest and most
successful port in the country. In calendar year 2019, we handled 55% more containers than
our nearest rival and 228% more cargo tonnes overall.
We have built infrastructure and services that bring prosperity to our communities, providing
jobs and business opportunities to make many other regions envious.
I am delighted that Leonard Sampson has been appointed as my replacement. Although he
will never be as good a fisherman as me, he is an outstanding leader and manages with a
very strong customer ethos. Port of Tauranga is in excellent shape and I am excited to watch
where it goes next.
Thank you to the Directors past and present who have supported our big ideas while keeping
the wood on management with respect to strategy execution and strong capital discipline.
Thank you to our customers and business partners, who have been open to our ambitious
ideas and supporting us to be the most efficient and fastest growing port in Australasia.
Above all else, thank you to the amazing team of people we have at the port. It is this team
that I am most proud of. They are a fantastic bunch of people who put in extraordinary efforts,
24 hours a day, 7 days a week, 52 weeks a year, in all weathers, to ensure Port of Tauranga
remains the great company that it is. The Port has been a huge chapter in my life and it is my
extended Port family that I will miss the most.
Nga mihi nui kia koutou katoa. Thank you Ladies and Gentlemen.

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Port of Tauranga Limited
Annual Meeting
30 October 2020

David Pilkington
Chair

Largest and most efficient New Zealand port
Lowest carbon emission international supply chain
32% of all New Zealand cargo
37% of all New Zealand exports
41% of all shipping containers
New Zealand’s Port for the Future

Total Trade down 8%
22,194
24,458
26,946
24,808
0
5,000
10,000
15,000
20,000
25,000
30,000
2017201820192020
000s tonnes

Container Volumes up 1.5%
1,085,987
1,182,147
1,233,177
1,251,741
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
2017201820192020

Transhipped Containers
represent nearly a third of all containers handled
245,896
303,284
337,183
339,467
100,000
150,000
200,000
250,000
300,000
350,000
400,000
2017201820192020

Group Net Profit After Tax down 10.5%
$83,441
$94,273
$100,577
$90,027
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
2017201820192020
$000s

Subsidiaries & Associates
Net Profit After Tax
$14,645
$16,391
$11,885
$14,076
$0
$5,000
$10,000
$15,000
$20,000
2017201820192020
$000s

PrimePort Timaru

Ordinary Dividends Maintained
at 90% of Underlying Net Profit After Tax
11.2
12.7
13.3
12.4
0
2
4
6
8
10
12
14
2017201820192020
Ordinary
Special
Cents per share

Ruakura Inland Port

24 Previous Upper North Island Port Studies

Berth Extension
First stage: 220m extension to the south of the
existing wharves to create fourth container berth

Our Senior Management Team

0
1
2
3
4
5
6
2005200620072008200920102011201220132014201520162017201820192020
Billions
Market Capitalisation Growth

Mark Cairns
Chief Executive

Log Exports down 21.5%
deemed non-essential cargo for 2 months
5,490
6,276
7,063
5,544
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
2017201820192020
000s tonnes

Dairy Exports Up 1.7%
2,223
2,312
2,322
2,362
0
500
1,000
1,500
2,000
2,500
2017201820192020
000s tonnes

Fertiliser Imports up 1%
474
552
501
504
0
100
200
300
400
500
600
2017201820192020
000s tonnes

Grain & Dairy Feed
Supplement Imports up 22%
1,156
1,343
1,209
1,472
0
500
1,000
1,500
2017201820192020
000s tonnes

Oil Products down 12.3%
1,436
1,569
1,600
1,403
0
500
1,000
1,500
2017201820192020
000s tonnes

Total Vessel Visits
1,227
1,329
1,501
1,529
1,612
1,555
1,482
1,653
1,747
1,678
1,515
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
20102011201220132014201520162017201820192020

Cruise Ships
0
20
40
60
80
100
120
140
2003200420052006200720082009201020112012201320142015201620172018201920202021F

Australasia’s Most Productive
Container Terminal
Average net crane rate:
Tauranga:34.4 moves/hour
New Zealand:30.1 moves/hour
Australia:30.8 moves/hour
Average ship rate:
Tauranga:83.4 moves/hour
New Zealand:62.3 moves/hour

0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
2017201820192020
Truck Movements reduced 10.2%

Emissions / Tonne of Cargo
0.0015
0.00155
0.0016
0.00165
0.0017
0.00175
0.0018
0.00185
FY Jun 17FY Jun 18FY Jun 19FY Jun 20
Tonnes of CO2e per tonne
throughput (all business)

CEMARS Certification

Electric Cars - Hybrid Straddles

Bigger Ships = Lower Carbon Supply Chain
20% fewer emissions
29% fewer emissions

Dust Supression / Visual Amenity
2017
2020

Our environment
Air pollution from shipping has been reduced by new low
sulphur fuel limits introduced internationally on 1 January 2020

Debarking

Methyl Bromide Recapture

First quarter FY21
•5% decrease in total trade to 6.4 million
tonnes
•Imports steady, exports down 8% in
volume
•Unaudited Group After Tax Profit of
$21.5 million, compared with $21.7
million same period last year

THANK YOU

Port of Tauranga Limited
Annual Meeting
30 October 2020

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30 October 2020
First Quarter Cargo Volumes at
Port of Tauranga Impacted by Covid-19
Port of Tauranga, New Zealand’s international hub port, today reported flat earnings in the first quarter
of the financial year, as Covid-19 continues to have an impact on supply chain efficiency and the global
economy.
From 1 July 2020 to 30 September 2020, Port of Tauranga handled nearly 6.4 million tonnes of cargo,
a 5% decrease on the same period last year.
Containerised cargo decreased by 8% to 287,670 TEUs. Imports were the same as the first quarter last
year, and exports were down 8%.
Log exports are performing in line with forecasts of 6.2 million tonnes for the full year, but remain
vulnerable to variable international demand.
Dairy product exports decreased about 12% compared with the same period last year, which we believe
is due to seasonal variations. Kiwifruit exports increased 9% for the quarter.
Port of Tauranga Chief Executive, Mark Cairns, told the Company’s Annual Meeting of Shareholders
today that the unaudited Group Net Profit After Tax for the first quarter was $21.5 million, compared
with $21.7 million in the previous corresponding period.
“Based on the first quarter’s performance, and notwithstanding any significant market changes, we
expect full year earnings to be between $86 million and $93 million,” said Mr Cairns.
Mr Cairns said that Port of Tauranga was still planning for long-term cargo growth.
“Port of Tauranga is a long-run infrastructure company and we will continue to pursue capacity
expansion and greater efficiencies, to avoid the bottlenecks and congestion currently being experienced
in the Upper North Island supply chain,” he said.
“We have a demonstrable track record and a very strong A- credit rating renewed last month by
Standard & Poors. We believe we are well placed to weather whatever the Covid-19 storm throws at
us next.”
For more information, please contact:
Mark Cairns
Chief Executive
Port of Tauranga Limited
Ph: 07 572 8829
http://www.port-tauranga.co.nz/category/current-news/