Port of Tauranga withdraws guidance on lost forestry trade

Thu, 26 Mar 2020

Port of Tauranga has withdrawn its full-year earnings guidance citing the government’s restriction on log harvesting and processing.The company, the country’s largest export port, had trimmed its guidance last month, citing the potential impact of the coronavirus on its log volumes.But today it scrapped the guidance altogether. While many of its cargoes, including exports of meat, dairy and kiwifruit are classed as essential goods by the government, forestry products are not.“Log and other forestry product exports will be significantly impacted...

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