Ministers got second Cook Strait report shortly before ferry grounding

Finance Minister Nicola Willis says the government intends to refresh the KiwiRail board. (Image: NZME)

Thu, 27 Jun 2024

The Ministry of Transport has finished work to identify future options for a resilient Cook Strait connection, including considering the possibility that KiwiRail might exit the Interislander ferry service.The final report was delivered to ministers last week, a spokesperson said, the same week the three-person ministerial advisory group (Mag) reported back its recommendations for replacement ferries.Issues with the existing fleet were brought to the fore again last Friday night when Aratere, on a freight-only sailing out of Picton, lost steeri...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket starts week down 0.8%

The S&P/NZX 50 Index closed at 13,351.92, down 115.34 points or 0.86%.

Graham Skellern 6:10pm

Property

Du Val pair ordered to pay costs

The Clarkes are to pay the markets regulator following the asset seizure hearing.

Maria Slade 1:00pm

Property

Auckland developer collapse leaves $40m in debt

Between all firms, debts with the IRD are about $25 million.

Gregor Thompson 11:56am

Auckland developer collapse leaves $40m in debt

Sponsored

The risks of powering New Zealand’s data boom

Sydney has curbed data centres to save power and water. Can New Zealand plan more wisely?

Dentons

Sponsored

Spedding Rd powers Auckland growth

$56m in new infrastructure unlocks business opportunities.

Oyster Capital Spedding Road

More Infrastructure

Infrastructure

Aratere sold for scrap, price deemed commercially sensitive

The Aratere ferry has been sold to a specialist recycling shipyard in India for an undisclosed amount.“Details of the sale price are commercially sensitive,” Duncan Roy, executive general manager of Interislander, said. The ferry was retired last August to make way for the port...

Rebecca Howard 10 Oct 2025