Car imports rise in ‘tough’ year
Ports of Auckland Ltd (POAL) has reported its profit nearly doubled to $45.6 million in the year to the end of June 2021, after only reaching $23m in the previous financial year.
The number of car and light commercial vehicles coming through the site also rose to 236,260 units, a 9.2 per cent increase from 216,356 over the same period, according to its annual report.
Spencer Brown, manager multi-cargo, notes inspections of imported vehicles must now be completed in New Zealand. This follows Biosecurity NZ’s decision to keep its officers here rather than returning to Japan and “increases the time that ships are in port”.
“However, the average wharf-dwell time for cars remains at 2.07 days, which is a leading figure around the world,” he adds.
While the number of cars handled increased, the number is 7.4 per cent lower than the 255,252 units in pre-pandemic 2019.
The company’s profit was also down from $54.9m in the 2019 financial year.
Revenue for FY2021 fell to $226.3m from $231.4m a year earlier, while underlying profit dropped to $20.7m from $30m over the same timeframe.
POAL says the decreases were “largely driven by the Covid-19 response, the absence of cruise ships and the capacity throughput challenges in the container terminal”.
The declared dividend to its owner Auckland Council was $3.7m compared to $4.9m in FY2020.
The increase in the number of cars handled took the port’s total bulk and breakbulk throughput to 6.67m tonnes, an increase from 5.8m tonnes.
Meanwhile, container throughput fell to 818,238 TEU (twenty-foot equivalent units) compared to 880,781 TEU.
Wayne Thompson, interim chief executive officer, describes the past year for POAL as “tough” but it is seeking to deliver higher returns in the current financial year.
“The combined impact of the pandemic and a fatal accident a year ago has had a heavy impact on our people and the business,” he explains.
“At the container terminal the result was congestion and reduced volume. At our multi-cargo terminal, we've seen significantly higher volumes despite pandemic-related shipping delays.
“For the coming year we are focused on getting the essentials right and putting the company back on track. We will continue the good work our teams have been doing to improve safety and develop a strong safety culture right across the business.
“We will focus on completing automation, and we’ll focus on safely getting productivity back to higher levels.
“This next year will still have challenges and setbacks, as the current lockdown shows. However, we have made good progress on addressing our problems and I have great faith in our people and in their ability to deliver when it matters most.”
To read POAL’s annual report, click here.
