Wednesday , 22 May 2019
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New Zealand’s Lyttelton Port of Christchurch has achieved an outstanding financial and operating result for the 2011 financial year despite 10 months of seismic emergencies, disruptions and damage.

Lyttleton’s outstanding result in a year of damaging earthquakes

“Thanks to the resilience of the Port business and infrastructure, built up over a number of years, and the commitment of its people, the Port and our inland port CityDepot kept operating with minimal downtime,” said LPC chairman Rodger Fisher.

The Canterbury region suffered a 7.1 strength earthquake on September 4, 2010, 6.3 on February 22, 2011 and 6.3 on June 13, 2011.

“After each earthquake, critical port services were restored within 96 hours. This is a fantastic achievement given the magnitude of destruction throughout Canterbury,” said Fisher

With the need for additional land, the Company applied for and obtained emergency consents for the 10-hectare Te Awaparahi Bay Reclamation to the east of Cashin Quay. The project is providing an environmentally sensible disposal area for clean demolition hard-fill that would otherwise go to landfill. This solution is saving Christchurch people and businesses more than NZ$100m (US$83m) in dumping fees, and is saving the Port many millions of dollars on quarrying and transporting rock.

The reclamation is now larger than a football field. It will be completed in four stages over two years, and the first stage is expected to be ready for vehicles and logs within a year. The new land will need time to settle before it can be used for container storage.

The Company achieved an earthquake-adjusted profit after tax of NZ$12.1m for the year ended June 2011. This compares with NZ$9m the previous year, an increase of 34.4%. Earthquake-adjusted revenues totalled NZ$93.7m, up 7.3% from NZ$87.3m the previous year.