Marsden Maritime warns of weaker log volumes

By Gavin Evans | Wed, 11 Mar 2020


Marsden Maritime Holdings said reduced log volumes through Northport are likely to weigh on full-year earnings.The firm, which owns half of Northport and has interests in marinas and commercial land around the port at Marsden Point, last month reported a 20 percent lift in first-half net profit.Today, chief executive Felix Richter said log volumes through the port – its major cargo – through to June 30 are unlikely to match those in the six months through December due to the coronavirus-induced slowdown in China and a backlog of cargos at ports...