Port Nelson docks cargo expectations

A likely drastic slowdown in cargo growth and slashing of capital spending plans at Port Nelson sparked little reaction at the port's public annual meeting.

The port explained the fall in its 2005 net profit to $5.25 million from $6.6 million.

An expensive year paying for resource consent and staff costs, a refit of a tug and putting together proposed rules governing noise affected the result.

Chairman Nick Patterson said cargo growth was going to be minimal over the next 10 years, which had led to the indefinite postponement of controversial plans to extend the Main Wharf South.