The requirement for port realization is now more urgent than ever, says the Port of Tauranga. The statement has come as a result of figures which showed a 24.6% fall in container volumes and a 7.7% fall in trade in the firm's first-quarter report. Although, the net-profits have been up by 0.2%, restructuring is important.

"The move to newer and bigger ships was happening anyway but is accelerated by the surplus of tonnage and the obvious desire of shipowners to idle their older, smaller and less efficient container ships. These things make port rationalization more urgent, said Chairman John Parker.

Once consent for port rationalization is secured, the Port of Tauranga looks to initiate changes in a timely manner, as required by the markets. In another development, Bill Capamagian and Bill Baylis have recently been re-elected as the port's directors at a meeting.