They need re $190 million for this
6 Wharf will be a multi-purpose 350 metre length wharf, planned to be located along the northern face of the existing container terminal. The 6 Wharf expansion project includes a dredging programme which will create a new vessel turning area. The project has received all resource consents expected to be required, with other construction related consents such as building consents still to be obtained. The key operational benefits of the 6 Wharf expansion project include:
Reduced congestion: 6 Wharf will improve operating efficiency by reducing secondary vessel movements (temporarily moving vessels off wharves to accommodate other vessels) by an estimated 100 movements per year
Ability to handle larger vessels: 6 Wharf will be able to handle container ships up to 320 metres in length and cruise ships up to 360 metres in length
Extending the Port’s container vessel capacity
Allowing berthing for larger container vessels 24-hours per day
Operational agility: 6 Wharf will be used for both container and cruise ships, and will be capable of supporting twin lift gantry cranes if required in the future
Operational resilience: 6 Wharf’s design improves the Port’s potential resilience to a significant seismic event
Bit of news in the Herald this morning re the Napier Port float. 4% expected yield.
c.f.
MMH 4.14%
POT 4.07%
SPN 5.47%
Doesn't sound very exciting. Will it be in an index? Probably worth stagging if bigger institutional investors have to buy more but the amount you might get allocated probably doesn't make it worthwhile. Although infrastructure and utility assets appeal to my conservative nature. Although accepting 4% means my retirement savings in theory need to climb from $1mill at 7% to $1.75mill at 4% not looking likely at this stage especially as acceptable yields keep dropping. That's right I am hoping for $70k before tax from my retirement savings. Probably just enough to not be entitled to any national super when I retire.
Bit of news in the Herald this morning re the Napier Port float. 4% expected yield.
c.f.
MMH 4.14%
POT 4.07%
SPN 5.47%
Doesn't sound very exciting. Will it be in an index? Probably worth stagging if bigger institutional investors have to buy more but the amount you might get allocated probably doesn't make it worthwhile. Although infrastructure and utility assets appeal to my conservative nature. Although accepting 4% means my retirement savings in theory need to climb from $1mill at 7% to $1.75mill at 4% not looking likely at this stage especially as acceptable yields keep dropping. That's right I am hoping for $70k before tax from my retirement savings. Probably just enough to not be entitled to any national super when I retire.
Just remember with 3% inflation then every 24 years you need twice as much. Rule of 72.
Just remember with 3% inflation then every 24 years you need twice as much. Rule of 72.
Thanks for the reminder. Hopefully a port can raise prices and dividends in line with inflation. Possibly better than a term deposit in the current environment.
Or would u be better just to buy POT shares?... what’s hb got? Logs and apples, both will prob be already on long term arrangements through POT?... will it be able to compete, looks like a volume game to me...
Or would u be better just to buy POT shares?... what’s hb got? Logs and apples, both will prob be already on long term arrangements through POT?... will it be able to compete, looks like a volume game to me...
The apple industry from memory will grow around 15% per annum for Hawkes Bay, that is if they will not plant any new trees. We all know that new trees are being planted all the time, with a new huge farm changing from livestock to apples and vineyards getting vines removed and replaced with apples. I am picking within the next 5 years apples will easily double in quantity if not treble. The only thing I cannot understand is where is the labour coming from to collect all these apples. This year we have seen a huge amount of apples left on the trees, due to maturity issues and an undersupply of pickers. The majority of orchardists blamed the government stopping overseas pickers coming in to collect the fruit.
I don't know what will happen with the logs, but a friend mentioned that logs should not change too much, as the logs heading overseas are not the best quality logs
My intention will still be to purchase a few thousand shares in the port. I would prefer the Napier Port to be primarily owned by the people of Hawkes Bay.... Well at least 50% of it including council.
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