South Port is spending $6.3 million to buy a second mobile
Liebherr container crane in anticipation of increasing
dairying and fertiliser movements.
Listed South Port said that following a recent infrastructure
review in conjunction with its major container shipping line
customer MSC, a second Liebherr crane and an additional
heavy-lift container forklift would be bought for $6.3
million in total.
South Port chief executive Mark O'Connor said a two-crane
infrastructure levy would be passed by South Port to its
shipping line customers in a transitional period over several
He said there would not be a noticeable, immediate lift in
cargo to support the investment, so a mechanism was necessary
to partially bridge the gap between the targeted investment
return and the income flows.
For its half-year to December, reported last month, a quieter
than usual export off-season slightly undermined South Port's
profit, but the port company maintains its full-year
financial guidance expectations, forecasting full-year
earnings in a range of $5.8 million to $6 million.
While cargo volumes rose 8%, or 101,000 tonnes to 1.36
million tonnes, lower returns from warehousing saw after-tax
profit down 7.5%, from $2.9 million a year ago to $2.68