MMH - Marsden Maritime Holdings

[Balance]

Surely as a key stake holder POA will already have a copy of the report ?
I am somewhat frustrated / bemused that it has not yet been released publicly. It is a hugely topical matter with a lot of debate going on.
And those lucky enough to have the final report are significantly better informed.
Why not just get on and release it so everyone is playing with the same deck of cards ?

In a way it is good that it has not been released publicly - I think there's egg all over the face of opponents of the shift and their highly paid consultants?

Blows their credibility right out the window through their pre-mature evaluation.

[RTM]

Skies, will not happen imo , something to ponder, so far it has taken TEN YEARS of dreaming, planning , arguing, pondering, writing reports and discussing on the merits of a clipon cycle lane on the Auckland harbour bridge and guess what, NOTHING, NOTHING, NADA, so in that vein how long will it take to fully discuss and make a decision on the maybe merits of moving the PoA , FIFTY YEARS PLUS.

Sorry Bal but the facts and actions speaks volumes !

What was is it she said again...."Lets do this " or something like that.

[whatsup]

What was is it she said again...."Lets do this " or something like that.

Yeh, and leave it where it is, we can spend that money where its really needed, health, education, social welfare, defence , etc why line MMH's shareholders pockets !

[sb9]

https://www.rnz.co.nz/national/progr...d-weigh-anchor

Radio NZ interview today with Wayne Brown, Chair of Working Group.

One of the more interesting points to me from the interview is that the EY 2016 Report about the future of Ports of Auckland was that EY was SPECIFICALLY instructed to exclude Northport as an option!

Guess who gave that specific instruction?

Another interesting point to emerge is that POA was warned 30 years ago that it should be looking for an alternative but the fat cats there simply reclaimed more harbor. Great vision - NOT!

Wow, that's some detailed interview with WB (about 30min long) and clearly outlines the recommendations for shift away from POA. Very interesting listen for anyone no matter which side of equation you're on.

[Leftfield]

Wow, that's some detailed interview with WB (about 30min long) and clearly outlines the recommendations for shift away from POA. Very interesting listen for anyone no matter which side of equation you're on.

Agree..... thanks for posting. I've now got a small stake in MMH.

[Balance]

And for those who are interested, the current MMH book value for its land around the port is... $10 to $20.5/sqm. The annual report states this as $100,000 to $205,000 per ha, but there are of course 10,000 sqm's per ha. The huge area of land MMH owns in the Northland area is how they have a $20.2m BV of land in their accounts despite the low value per sqm. If this land was thought of as quarter acre sections each one would only be valued at $10k to $20k!!

The website link below notes they have 1,850,000sqm of land (185ha). If this started to have a land value of even say $100/sqm, the BV of the land increases to $185m which would increase the BV of equity by $4/share. If this land was to shift upwards to the valuation used for ports of Auckland, it would be valued at just under $1b and alone carry a BV/share of $24. A recent article noted $1,100/sqm prime industrial land values around the Mount near port of Tauranga. That price point would put the land at about $50/share.

That's what a lot of the Business case is about - start using cheap Northland land rather than extremely expensive Auckland CBD land for a port.

https://marsdenmaritime.co.nz/land-for-lease/

Exactly the point that Wayne Brown was making - free up the super valuable CBD land for better commercial use and use the cheaper * Northport land for port activities.

It's a win, win for all.

* Soon to become more valuable and rise in value. $24 a share sounds about right over the next 10 years.

[RTM]

Yeh, and leave it where it is, we can spend that money where its really needed, health, education, social welfare, defence , etc why line MMH's shareholders pockets !

Jeeze…..do you work for POA Whatsup ? It can't stay there...everyone seems to agree with that. Lets start planning now for where it needs to go.
Optimising Tauranga and Marsden seems the logical place for it to go.
What is your alternative ?

[RTM]

I'm just waiting for Simon Bridges to get in behind it. Although....maybe he'll play it differently.
If Labour says yes....Simon says....
and
If Labour says no...Simon says...
Be disappointing if they approach it like this. I'd rather see them in fact get in with a recommendation ahead of the Governments decision. But that would take a pair !
Pity this is such a political decision.

[Balance]

I'm just waiting for Simon Bridges to get in behind it. Although....maybe he'll play it differently.
If Labour says yes....Simon says....
and
If Labour says no...Simon says...
Be disappointing if they approach it like this. I'd rather see them in fact get in with a recommendation ahead of the Governments decision. But that would take a pair !
Pity this is such a political decision.

Gave up on Simon a while ago.

So many issues he could have held the government to account but he has showed no capability to do so.

The polls suggest the electorate has also given up on him so whatever he says will have no consequence as John Key and Niiki Kaye have both voiced strong support for the shift.

[Blue Skies]

Skies, will not happen imo , something to ponder, so far it has taken TEN YEARS of dreaming, planning , arguing, pondering, writing reports and discussing on the merits of a clipon cycle lane on the Auckland harbour bridge and guess what, NOTHING, NOTHING, NADA, so in that vein how long will it take to fully discuss and make a decision on the maybe merits of moving the PoA , FIFTY YEARS PLUS.

Sorry Bal but the facts and actions speaks volumes !

Appreciate your frustration with the lack of action on the harbour bridge & resulting increasing traffic congestion, but remember no one, (not even POA ) think the inner harbour port as it presently stands will work with the deep water ships coming in the next 10 years, so maintaining the status quo is not an option. Apart from all the other issues, I think people are only too aware of the environmental & economic catastrophe if one of these super container ships ran aground or was in a collision in the tight narrow restricted space of the inner harbour.