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ANNUAL REPORT 2017 We Operate a World-Class Port Meeting the Needs of Importers, Exporters and the Growing Auckland Population

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ANNUAL REPORT 2017 We Operate a World-Class Port Meeting the Needs of Importers, Exporters and the Growing Auckland Population ANNUAL REPORT 2017 We operate a world-class port meeting the needs of importers, exporters and the growing Auckland population. For the second consecutive year we’ve been voted the Best Seaport in Oceania. We are committed to being a socially responsible business that is responsive to the needs of our customers and the communities we serve. We aim to be an employer of choice, a loyal and trusted partner and an active and valued member of the community. This has been another year of strong performance and growth as we evolve our world-class port to meet the needs of Aucklanders today and tomorrow. 10 Chair’s review 12 About this report 14 Our business model 16 Chief Executive’s review 19 Operating review Safe and empowered people Delighted customers Keeping ahead of trade needs Volume growth through sustainable supply chain solutions Strong strategic relationships Active in the community Improved environment 33 Our Board 34 Corporate Governance 36 Independent Auditor’s report 38 Financial statements From flat out Voted No.1 1,572 952,331 Best Seaport in Oceania again visits from individual vessels 20-foot containers handled Craft Kitchen To flat white 230,571 174,701 13,616 cruise ship passenger visits tonnes of wheat and grains tonnes of fresh fruit From cargo 297,383 16,615 23,875 cars unloaded and processed tonnes of machinery tonnes of road metals To car pool 20,939 4,500+ 86,876 tonnes of bananas students and teachers took a free containers moved by rail boat tour of the Port From building materials 596,484 190,035 972,473 tonnes of cement tonnes of sand tonnes of oversized vehicles and machinery To building dreams 100 50,000+ 51.3m cruise ship visits visited SeePort Festival declared dividend delivered to Auckland Council 10 / Ports of Auckland Annual Report 2017 Chair’s review Building a platform for for a port to just be good at loading sustainable growth ships. We have to extend our reach out A port is an unusual business in that it into the hinterland to help cargo-owners tends to grow over time as an integral get their goods to market as efficiently part of a city. Which started first, the city as possible. or the port? Our history started when the The second factor is technology. It has first settlers arrived in Aotearoa, sailing advanced to a point where automation is from Polynesia. They settled in this area no longer the exclusive preserve of large, because of the good local resources green-field ports. Smaller operating and safe harbour. Our first name, Tāmaki ports can now get the benefit of this Herenga Waka, ‘the mooring place of technology, and we will be the first many vessels’, shows the value this automated port in New Zealand. location had as a safe port of call. The third is that the city has changed The second wave of settlers, from around us, and community attitudes It is my pleasure to Europe, chose this site for the same have changed. It is no longer acceptable reasons: fertile land around a safe for a port to reclaim more land every time present to our owners, harbour. And so the modern Auckland, it needs capacity. That approach was, the people of Auckland, and its port, were born. literally, unsustainable. To survive as a port and to be a successful business, we our Annual Report for We are proud of our history and the role have to operate sustainably. 2017. This is my second we play in Auckland. Auckland’s port report as Chair of Ports remains part of the special character For the first part of this decade our of Auckland city and continues to play business focused on improving of Auckland (the Port). a vital role in New Zealand’s economy, productivity at the Waitematā seaport. delivering things that we need and enjoy We now operate a world-class port and exporting goods to the world. meeting the needs of importers, exporters and the growing Auckland Our port has developed over time, population. For the second year in adapting to the growing needs of the city succession, Ports of Auckland has been and changes in technology. From sail to voted Best Seaport in Oceania. engines, from cargo in sacks and barrels to containerisation, we are constantly A sustainable approach evolving. We are in the midst of a new After successfully transforming the revolution, a technology and data-driven operations at our seaport, our strategic revolution that will allow us to meet the focus has shifted. We still aim to give our changing needs and expectations of our customers great service but with more community for years to come. emphasis on delivering improvements There are three key forces at work, through technology and innovation, which have both enabled this change keeping costs low and extending our and required it. The first is a changing reach into the supply chain so we can shipping industry, where intense offer better value and service to freight competition and over-supply of capacity owners. Under this strategy we began have led to a relentless drive to cut developing a network of freight hubs at costs. As a result it is no longer enough key locations in the North Island, and Liz Coutts ONZM Chair Ports of Auckland Annual Report 2017 / 11 seeking partnerships with like-minded than updating earlier versions of port As a result, we have developed some ports. We now have three operational development plans, which were based ideas for our future development that inland hubs in Auckland, Manawatū around reclamation, we have started are, I think, very exciting. I believe they and the Bay of Plenty, with a fourth, with a blank sheet. We have talked to strike a good balance between the Port’s in Waikato, under development. the people who move freight through our economic role and our environmental There has been keen interest in the port to find out more about their needs and social responsibilities. We look development of our Waikato hub and and how we can work with them to make forward to sharing our ideas with we are in discussions with a number of our operations more efficient. We’ve Aucklanders later this year. cargo owners over use of the site. listened to the Auckland community A strong result This year we have enhanced our through the Port Future Study, focus strategy in response to changing groups and other feedback, about the This year we have continued to community priorities. We have a vision desire to protect the Waitematā Harbour deliver strong results in a difficult trading environment. We will pay to become a leading sustainable port and the future people want to see for our shareholder, Auckland Council at the global level, which means being the city centre waterfront. We’ve made Investments Limited, a dividend of $51.3 more transparent and engaged with better use of our data to improve our million for the 2016/17 financial year, the community, and an environmental understanding of how freight flows compared with $54.3 million last year. leader to help drive Auckland’s economy through our seaport and to identify This dividend equates to 4.1% of the in a sustainable way. We aim to be pinch-points as well as opportunities average residential rates bill, a significant an employer of choice, a loyal and for greater efficiency. contribution the city can use for future trusted partner, and an active and We have also put considerable energy investment while keeping rates down. valued member of the community. We into improving our Future Foresight. Like contribute to New Zealand’s economic We welcomed three new Directors to other industries we face disruption from and social prosperity while balancing the Board this year: Sarah Haydon, new technologies. We will not passively the needs of the environment and our Karl Smith and Bill Osborne. All are await the future, but instead anticipate stakeholders. experienced directors with diverse and proactively plan the kind of future backgrounds, including strong supply For the first time, our annual report we believe will be best for our staff, our chain and financial credentials. follows the International Integrated customers and the community we serve. Reporting Framework, developed by For port development this means trying Wayne Walden stepped down from the the International Integrated Reporting to anticipate change and build a port that Board during the year, and I would like Council. It shows how we create is resilient and adaptable. to thank him for his wisdom and valuable and build value across our seven contribution. Wayne was appointed sustainability principles: economically We are mindful that the port may one to the Board in August 2011 and has responsible; resilient operations; day move, but also that shifting a port is helped steer the company through a innovation and foresight; values-based; a slow and expensive process that could period of significant change. enhancing people and safety; customer take decades. So we have developed Finally, on behalf of the Board, I and community focus; and environmental a plan that allows the port to cater for would like to thank the team at Ports leadership. This year we report on a increased trade in the intervening period. of Auckland for their commitment and number of the early steps we have We have adopted the principle that hard work. 2017 has been another taken towards achieving our long-term new port buildings and infrastructure year of strong performance and growth, sustainability goals. should, where possible, look good, be as we evolve our world-class port to One of the biggest impacts of our shift sustainable, enhance public access to the meet the needs of Aucklanders today to a more sustainable future is in how waterfront and be able to be repurposed and tomorrow.
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