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2001 Annual Report

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2001 Annual Report ANNUAL REPORT 2001 Leading through INNOVATION & COMMITMENT When a company gives an undertaking to its stakeholders, it also creates a challenge to deliver. The Port of Tauranga says in its mission statement that it will show leadership through innovation and commitment. These words are a promise that the Port will have the courage to consistently review its operations, search for new and better ways of performing, and deliver services that will be valued. The statement is also a call to action. In a business that is dedicated to being New Zealand’s preferred cargo gateway, respect will be earned by the quality of every Port team member’s effort. The record result achieved in 2001 is evidence that the Port of Tauranga can keep its word. contents Foreword 1 Results in Brief 2 Highlights 3 Environment Report 6 OUR VISION Our Community 10 To be New Zealand’s Directors 14 preferred cargo gateway Management 15 OUR MISSION STATEMENT Chairman’s Review 16 Leading through innovation and commitment Corporate Governance Statement 18 OUR VALUES Chief Executive’s Review 19 Integrity Report of the Directors to the Shareholders 22 Innovation Communication Auditors’ Report 24 Teamwork Financial Statements 25 Some men see things as they are and say “Why?” FOR US SOCIAL Five Year Summary 42 I dream of things that never were and say “Why not?” RESPONSIBILITY IS: -George Bernard Shaw Security Holding Statistics 43 Ensuring our strategic and operational decisions take into account our Directory 45 environmental responsibilities and the aspirations of all stakeholders, including the shareholders, the community and our staff. ANNUAL REPORT 2001 1 results in brief 2001 2000 Year Year $000 $000 Revenue 76,686 69,866 Net profit after tax 22,412 19,650 Total assets 362,101 354,888 Total equity 273,808 258,157 Shareholders’ equity (%) 75.6 72.7 > A record net profit after tax of $22.4 million, up 14% on the previous year. Earnings per share (cents) 29.3 25.7 highlights > Container traffic up 22% to 286,806 TEUs (twenty Dividends per share foot equivalent units). - Ordinary (cents) 24.0 22.0 - Special (cents) - 16.0 > Confirmation of an agreement with Tranz Rail to extend METROPORT Auckland to a seven days a Net asset backing per share ($) 3.58 3.38 week, 24 hour operation. Return on equity (%) 8.4 7.5 > Construction starts on deepwater port facility at Marsden Point, a joint venture project with Cargo throughput (000 tonnes) 10,248 9,737 Northland Port Corporation. Containers (TEU’s) 286,806 235,905 > Wallenius Wilhelmsen begins a new monthly service linking the Port of Tauranga to Europe, America, Australia and Asia. > FESCO New Zealand Express Line shifts its port of call from Auckland to Tauranga for its fixed day weekly service to the Far East - and becomes a new customer for METROPORT Auckland. $5.50 > The vessel sharing agreement between ANZDL, $6.80 $18.1M Columbus Line, FESCO, and P&O Nedlloyd elects to 38.0c $19.6M $22.4M 25.7c $5.00 use the Port of Tauranga for the Pacific South West 20.3c 29.3c 38.0c string of its twice-weekly connection between New Zealand, Australia, and the West Coast of North America. 24.0c > The new $5 million state of the art tug, the VALUE 1999 1999 1999 1999 Sir Robert, is blessed in November 2000 at a 2000 2000 2000 2000 special dawn ceremony. 2001 2001 2001 2001 > The Port of Tauranga and the Port of Brisbane establish a strategic alliance, paving the way for share price dividends earnings surplus the sharing of technologies, marketing, trade $6.80 per share per share after taxation information and specialised expertise. 24.0c 29.3c $22.4M > The Port adds another 200 reefer points to cater for continued growth in container throughput at its Sulphur Point Container Terminal. 2 ANNUAL REPORT 2001 ANNUAL REPORT 2001 3 “First impressions are lasting impressions “Sometimes my job is and our team aims to just about being provide the most helpful - it’s about accurate and efficient pointing a customer in information to ensure the right direction” customer satisfaction” Kel Jones > Cargo Services Karina Tabak > Customer Services Co-ordinator “It’s my job to manage storage space and ensuring shippers’releases, everyone happy. Sometimes my job is just about being helpful - it’s “The Service Centre is the first port of call for everyone. It’s the hub the information you have provided them and that’s the best part Customs and MAF clearances on all cargo are approved on time.” about pointing a customer in the right direction to make sure they of communication for all vessels arriving or leaving the Port and of the job - to know you have been instrumental in making their Cargo Services’ Kelvin Jones manages the Mount Maunganui and have the correct documentation.” the people involved in our industry.” day work better.” Sulphur Point wharf storage facilities where he is responsible for Kelvin says the most important attribute for his job is flexibility: Karina Tabak is one of a team of eight that work around the clock Karina has built good relationships with many Port customers. allocating adequate space and conditions for all cargo excluding “Things are subject to rapid change when you work at the Port. providing information and assistance to customers as well as being “First impressions are lasting impressions and our team aims to kiwifruit. The most important thing is to be honest with yourself, keep in constant contact with the vessels entering or leaving the harbour. provide the most accurate and efficient information to ensure “My role lets me work with a range of people including everyone informed and accommodate changes the best you can.” “I love the contact with people, and assisting in the efficient customer satisfaction, and that all vessels travel safely within our marshallers, agents, stevedores and customers and I aim to keep operation of the Port.You know when a customer is satisfied with harbour.” 4 ANNUAL REPORT 2001 ANNUAL REPORT 2001 5 environment report The Port is located within a majestic natural setting.Tauranga harbour and its local beaches are highly valued natural A port operation of the size and scale of the Port of During the period under review, several issues arose habitats and recreational playgrounds, Tauranga cannot operate in isolation from its which merit specific mention. surrounding communities.The day-to-day work at its and have strong cultural significance. Last year, the Port was granted 20-year dredging container terminal at Sulphur Point, and its Mount consents, with some conditions.This was significant in Maunganui wharves make it probably the most highly that it provides future certainty regarding the Port’s visible business activity in the Bay of Plenty. ability to maintain shipping channels for access to The Port is located within a majestic natural setting. Mount Maunganui and Sulphur Point facilities. Tauranga harbour and its local beaches are highly Noise control boundaries have been established around valued natural habitats and recreational playgrounds, the Port area which specify a long-term average noise and have strong cultural significance. level for port activities. At the same time, the Port is In 2001, as part of its commitment to promoting social required to have a Noise Management Plan to responsibility and environmental sustainability, the Port demonstrate how port noise will be managed to meet developed a formal environmental policy: the limits. The Port of Tauranga will: A Port Noise Liaison Committee has been established to: > Seek continual improvement and social outcomes > Review the effectiveness of noise mitigation by ensuring that these are considered as part of measures; the day to day management of all business units; > Identify any new noise issues and consider > Seek to minimise the use of resources by preventative/mitigation measures; implementation of new technologies, processes > Determine a noise monitoring plan and implement and practices; with Tauranga District Council; > Identify and take into account community > Review any noise complaints received and consider aspirations and needs; preventative/mitigation measures. > Comply with all relevant environmental The Committee is required to meet every six months, but legislation; currently is meeting every three months. > Establish procedures for setting, reviewing and The Port applied for long term stormwater discharge achieving objectives; and consents in October 1998.The new consents will replace > Communicate policy and procedures, as required existing use rights. Over the past six years, the Port has and appropriate, to all stakeholders including sealed over 8.6 hectares of the log storage area to employees, other port users, government, iwi and improve the quality of stormwater run-off. other community interest groups. The Port of Tauranga is this year planning to upgrade its This policy statement is a starting point - an articulation on-wharf incinerator which is used for the disposal of of principles against which the Port will in time come to quarantined waste. Consent applications are pending. RESPECTmeasure its performance. 6 ANNUAL REPORT 2001 ANNUAL REPORT 2001 7 Mark Widmer > Electrical Foreman “I like the opportunity to continually improve myself. It’s important you need to have the right skills for your own confidence and the not to become complacent but to continue to climb - to aim for respect of your peers.” that up and coming job.” Mark has completed an Advanced Trade Certificate in Electronics, Electrical Foreman Mark Widmer has enjoyed the opportunities motivational training and is currently working towards a National provided by the Port of Tauranga to increase his skill level over the Certificate in Management. past nine years. “I’m dealing with power but it’s people that are the real thing.The “As an electrician at the Port I work with mast lighting, navigational motivational training was the hardest but the most rewarding.
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