New Zealand's largest port, the Pacific-facing Port of Tauranga on the North Island, was named the most productive in the region of Australasia in a recent report from financial analyst and market research firm Morningstar.
"Port of Tauranga is the most productive and efficient port in Australasia," wrote Senior Equity Research Analyst Nachiket Moghe in Morningstar's January Research Snapshot Report.
"Trade volumes increased by 20 per cent from to 18.5 million tonnes despite subdued international trade. Container volumes have been particularly impressive and log and forestry volumes have been on an uptrend due to increased demand from Asia."
Mr Moghe said trade volumes were estimated to double in twelve years, buoyed by its lower costs and recent run of attracting foreign shipping companies following union strife at the Port of Auckland in 2012.
Adding to its momentum, the Port of Tauranga recently announced several key investments that will position the company amid the economic recovery of the southern city of Christchurch.
The port company recently signed a conditional agreement with the Selwyn District Council to purchase land within the Izone Industrial Park for development as an inter-modal freight hub. The Izone development is a 180-hectare industrial park 12 kilometres south of Christchurch, with excellent road and rail connections, which has been established to cater for manufacturing, warehousing and logistics businesses.
The Port of Tauranga is planning to establish the intermodal freight hub to receive, pack and distribute containerised cargo, potentially through the Port of Timaru, located south of Christchurch. The port had recently acquired a 50 per cent shareholding stake in PrimePort Timaru and now operates its container terminal.
With the establishment of a freight hub in Christchurch and the partial ownership and management of a central-South Island port, the Port of Tauranga is opening up a gateway to the South Island as the city of Christchurch continues its rebuild from the 2011 earthquake.