Cook Strait 'fiasco' troubles Mainfreight

Cook Strait 'fiasco' troubles Mainfreight
State highway 1 and the railway between Picton and Christchurch were severed after the Kaikōura earthquake. (Image: KiwiRail)
Oliver Lewis
If the New Zealand rail network closed, the roading network wouldn’t be able to handle the increased freight movements, a logistics boss says.Multinational logistics and transport company Mainfreight reported its results for the year to March 31, 2024, on Wednesday, recording a 35% drop in net profit after two years of record highs driven by high freight volumes, congestion and high freight rates.In an interview with BusinessDesk, Mainfreight managing director Don Braid described the result – net profit of $277.9 million on rev...

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