Section 5 of the Act provided that “the principal objective of every port company shall be to operate as a successful business”. The Northland Port Corporation was incorporated on 18 October 1988 and purchased the required assets from the Northland Harbour Board, which was subsequently disestablished.
In 1992 the Company’s shares were listed on the New Zealand Stock Exchange. Northland Regional Council now holds 53.6% of the share capital, whilst Ports of Auckland Ltd holds 19.9%. The balance of shares are held by members of the public.
In 2002, with the development of the new Cargo Terminal at Marsden Point – a 50/50 joint venture between Port of Tauranga and Northland Port Corporation – a new associate company Northport Ltd was formed.
Northland Port Corporation (NZ) Ltd has holdings in the following companies:
|Northport Ltd||50%||Terminal Operator|
|Northland Stevedoring Services Ltd||50%||Stevedores|