Council-owned ports still making ‘parochial, emotional’ investment decisions: Pilkington

Tue, 20 Jun 2017

By Jonathan Underhill June 20 (BusinessDesk) - Local government owners of New Zealand ports are still inclined to make “emotional and parochial” investment decisions even though the Ports Act requires them to manage port facilities so they return more than their cost of capital, says Port of Tauranga chair David Pilkington. He was talking at a ceremony to mark the port’s milestone of handling 1 million containers in a year, which was reached this month. Port of Tauranga is one of only three ports that have shares held by the public, with...

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