A container ship which lost power while navigating Otago
Harbour was pulled into deeper water by a tug - having had a
near miss with the shipping channel's sandbank.
Profit-taking and unease over Pacific Edge's plunging share
price have resulted in its shares shedding more than 60% in
value during the past six months.
Port Otago's new workhorse tug Taiaroa arrived in Port
Chalmers yesterday, following a 40-day delivery voyage from
Shares in the A2 Milk Company spiked almost 10% yesterday -
from a 15-month low - after the announcement it had clinched
Chinese regulatory approval to export infant milk formula.
Submissions for Chatham Rock Phosphate's proposal to
suction-dredge phosphate from the Chatham Rise sea floor
appear to have generated less opposition than the separate
proposal to dredge iron sands off Taranaki's sea floor.
Low-cost gold production by Oceana Gold in its new
Philippines mine is buoying operations and paving the way to
slashing debt in the year ahead.
Manufacturing across the country just remained in positive
territory for June, but the Otago-Southland region was out of
step, booking two consecutive months of contraction.
House sellers nationwide are
asking more than ever for their properties. Aucklanders want
a record $732,240 and Central Otago Lakes is in second place,
up 10.5% at almost $670,000.
The 25% plunge in international log prices foreshadows tough
times ahead for southern forestry contract crews as smaller
forestry lots are held back from sale.
Engine problems have forced Port Otago's new $11 million tug
Taiaroa, on its maiden voyage to Port Chalmers, to
divert to Lyttelton's dry dock.
cars for sale
Porsche spices up off-road offerings
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