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Port Otago profit rises 82% to $32m
Port Otago has recorded a healthy result for the year off the back of increased trade and the return of cruise ships.
Port Otago
Noisy container ship on penultimate visit
Noisy container ship on penultimate visit
One of the noisiest cargo ships to visit Port Chalmers is on its penultimate trip to Otago Harbour.
Port Otago posts 42% profit increase
Port Otago posts 42% profit increase
Port Otago has posted a $9.2 million half-year profit for the six months ending December 31, up 42% on the previous corresponding period.
Worker hurt in forklift fire at Port Chalmers
Worker hurt in forklift fire at Port Chalmers
Worksafe has been notified after a side-loading forklift caught fire at Port Chalmers on Monday evening, injuring a worker.
ORC denies hindering development
ORC denies hindering development
City councillor David Benson-Pope says the Otago Regional Council and its companies should get out of the way of development on Dunedin's waterfront.
Port Otago reaps profit
Port Otago reaps profit
Port Otago has reaped a massive profit selling its contentious shareholding in rival Lyttelton Port of Christchurch (LPC) for $65.7 million, a 77% gain on the investment.
'Taiaroa' due soon
'Taiaroa' due soon
Port Otago's new $11 million tug Taiaroa is about halfway on its delivery voyage from Vietnam and is due to arrive in Port Chalmers later this month.
Not in race to deepen shipping channel
Not in race to deepen shipping channel
Port Otago does not expect to be forced into a race with competitor Lyttelton Port of Christchurch (LPC) over their respective plans to deepen shipping channels, with the possibility of larger container vessels coming to New Zealand in the near future.
Bigger ships expected
Bigger ships expected
Visits by larger container ships are on the horizon following commitments made by freight company Kotahi to the Port of Tauranga, Timaru's PrimePort and the world's largest shipping company, Maersk.
Changes to stay
Changes to stay
Last year's ''well publicised issues'' concerning operators and cruise ship passengers at Port Otago are over.
Port Otago banks on future
Port Otago banks on future
Port Otago's land banking in Dunedin's upper harbour is slowly being expanded around Fryatt St, with five separate properties now covering about 6ha.
Bumper year for Chalmers
Bumper year for Chalmers
Port Otago's property subsidiary Chalmers Properties has increased its asset value from $83 million a decade ago, with subsequent purchases and developments, to recently push beyond $250 million for the first time. Senior business reporter Simon Hartley talks to Chalmers Properties general manager David Chafer about its widespread portfolio of investments, and market conditions.
Warning over council income
Warning over council income
Being able to keep its general rate increase to 2.49% is good news but it is only thanks to the Otago Regional Council's ownership of Port Otago and its good investments, Cr Michael Deaker says.
Sea trials soon for tug
Sea trials soon for tug
Port Otago's new $11 million tug is on track to be launched this month in Vietnam for fitting out and sea trials, and is expected to be delivered and ready for service on Dunedin's harbour in August.
Lyttelton resumes dividend payments
Lyttelton resumes dividend payments
Port Otago can look forward to some return on its 15.5%, more than $50 million stake in rival Lyttelton Port of Christchurch, which is resuming dividend payments after three and a-half years.
Port dredging deposits court battle avoided
Port dredging deposits court battle avoided
An Environment Court battle over Port Otago's proposal to continue depositing dredging material at Aramoana, Heyward Point and Shelley Beach has been avoided.
LPC shares hit new high
LPC shares hit new high
Lyttelton Port of Christchurch (LPC) shares soared to a record high yesterday, prompting Port Otago to confirm that in February next year it will, for the first time, consider whether to sell its stake.
Waipori Fund improves to $76.3m
Waipori Fund improves to $76.3m
The return to health of the Dunedin City Council's multimillion-dollar Waipori Fund should not encourage councillors to consider selling it, the fund's head has warned.
Slipway readied for new cradle
Slipway readied for new cradle
A replacement lifting cradle is scheduled to be craned into place at Port Otago's Kitchener St slipway next week.
Society to appeal dredging consents
Society to appeal dredging consents
The Surfbreak Protection Society has lodged an appeal in the Environment Court against Port Otago's consents to continue depositing dredging material at Aramoana, Heyward Point and Shelley Beach.