MMH - Marsden Maritime Holdings

[whatsup]

I've been to Wellington...stayed in a hotel...walked to Te Papa...back to the hotel...walked to the stadium....and then into town afterwards.
It was great.

I've also walked from Eden Park to downtown A after a game.
No comparison.

Anyway.....right on Q Whatsup, u didn't disappoint me.

Comparing the Wellington stadium to Eden Park its like comparing Wellington to Auckland !

[RTM]

Getting closer. Premium...so some snippets.

https://www.nzherald.co.nz/northern-...33ZI6WRSS7GE4/

"Northport needs to grow container business for Auckland's sake: Port of Tauranga CEO"

"Asked which associate business he'd particularly like to see improve, he said Northport, and key to that was the Government's plan to build a rail spur from the main trunk line to Marsden Point"

"A recent independent report commissioned by Northport on the social and economic potential of its growth plans concluded around 1500 jobs could be created around Marsden Point, in Whangārei and in the wider Northland region by expanding the container operation. "

From end of August Herald

Step by step.

[Getty]

And, who is going to bear the cost of all of that?

Then the loss of the green miles?

And the extra fuel consumption, emissions and road and track maintenance, versus the sea?

And the cost of extra locomotives, rolling stock and trucks?

It's enough to make an Aucklander spew into their latte!

[mwri]

Rail is a great method of moving freight and would have the potential to reduce a lot of SH1 hgv traffic

[RTM]

For those interested.

https://www.nzherald.co.nz/northern-...OMJOL7DSFJBF4/
"Northport has applied for resource consent for a huge expansion of its operations, including 11.7 hectares of land reclamation and a 250m wharf extension."

Wouldn't imagine it is going to be an easy process getting the resource consent over the line. This was in the paper yesterday.
It also advised "Submissions must be received on or before December 15"
Seems an incredibly short period of time....maybe I missed an earlier notification.

And a wee bit more for those who are really really interested.
https://www.nrc.govt.nz/media/tvajk2...06-10-2022.pdf

[RTM]

Again, for those interested. A good perspective.


https://www.iheart.com/podcast/1049-...nds-107694623/

...for those with a progressive open mind.
Ha !

[nztx]

For those interested.

https://www.nzherald.co.nz/northern-...OMJOL7DSFJBF4/
"Northport has applied for resource consent for a huge expansion of its operations, including 11.7 hectares of land reclamation and a 250m wharf extension."

Wouldn't imagine it is going to be an easy process getting the resource consent over the line. This was in the paper yesterday.
It also advised "Submissions must be received on or before December 15"
Seems an incredibly short period of time....maybe I missed an earlier notification.

And a wee bit more for those who are really really interested.
https://www.nrc.govt.nz/media/tvajk2...06-10-2022.pdf

it sounds like the New mayor of Auckland is interested in the big shift & vacant land underneath.

All that's needed is a 9 digit application for funding to be tossed at Central Govt and the weary
finance spinner Robbo to sign it off

What could possibly go wrong ?

[kiora]

Moved to CHI

[Aaron]

Hey Kiora

I do not think MMH has anything to do with oil or fuel imports.

That infrastructure was held by NZ refining (right next to MMH's port) which has changed its name to Channel Infrastructure.

On a related note, interesting to hear of imported aviation fuel quality problems, CO2 shortage due to the closing of the refinery and wonder if the bitumen sticking to wheels is due to low quality imports now refinery is closed.

I understand refining margins went up considerably not long after the decision to close the refinery. I wonder if this means the crazies protesting the closure of the refinery were right and the top well paid CEO's of the petrol companies were wrong. Perhaps crazy people have a longer term time horizon or perhaps they care more about the nation of NZ in their own crazy way and just because you are paid squillions you do not always make better decisions.

[Southern Lad]

Although MMH have yet to release its half year results to 31 December 2022, POT have today released their results including details of the performance of Northport (jointly owned with MMH). See page 22 of the presentation http://nzx-prod-s7fsd7f98s.s3-websit...280/389372.pdf

Northport high level:

Profit down 0.7% to $3.918m
Brake bulk volumes down 12.7%, logs main contributor
Container volumes up 15.1% but volume still small at 10,611 TEU’s.
Strong contribution from North Tugz

Northport not the full MMH picture but the material profit contributor.