Cement ship woes hit Fletcher's 2025 earnings

Golden Bay ships cement around the North Island using the Aotearoa Chief. (Image: Supplied)

Mon, 29 Jul 2024

Fletcher Building is warning of a $10 million to $30m hit to its 2025 year earnings due to mechanical issues with a cement carrier.Fletcher owns the Golden Bay Cement business, which makes the building product in its Portland facility on Whangārei Harbour.Golden Bay contracts the Aotearoa Chief, a vessel owned and operated by a third-party provider, to transport cement around the North Island.In an update to the New Zealand Exchange (NZX) on Monday, Fletcher Building said the ship was currently docked at Northport while its owner made...

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