Shipping Corporation of New Zealand

The Shipping Corporation of New Zealand was a New Zealand shipping company created by the Third Labour Government led by Norman Kirk in 1973.

Shipping Corporation of New Zealand
TypeStatutory Corporation (1974-1987)
State-owned Enterprise (1987-1989)
IndustryTransport
Founded1974
Key people
Sir John Ormond
(Chairman 1974  1979)
Sir Tom Skinner
(Chairman 1979  1982)
ProductsSea transport

Background

Norman Kirk advocated for the creation of a New Zealand-owned shipping line as leader of the Opposition, which was Labour's policy at the 1969 and 1972 elections. Kirk argued that "the New Zealand farmer has always been at the mercy of the overseas shipping companies."[1] Upon election to office following the 1972 general election, Kirk moved quickly to establish the shipping line, appointing former Meat Board chairman John Ormond as chairman and Federation of Labour President Tom Skinner as his deputy. The Shaw Savill Line offered two vessels, the Laurentic and the MV Zealandic, for the shipping line.[1]

Formation

The Shipping Corporation of New Zealand Act 1973 established the corporation as a statutory corporation, which began trading in 1974. The New Zealand Government owned a majority of shares, while the Shaw Savill Line had a 30% stake in the shipping line.[2]

The Shipping Corporation adopted a new trading name on 1 September 1985, New Zealand Line, to emphasis its international links.[3]

State-owned enterprise

From 1 April 1987 the Shipping Corporation became the Shipping Corporation of New Zealand Limited, along with other government-owned departments and corporations, became a State-owned enterprise, and was required to make a profit.

Privatisation

In the 1987 budget, it was announced that the New Zealand Line would be sold.[4] The New Zealand Line was privatised in March 1989, being sold to Associated Container Transportation (ACT), trading as P&O for $33.5 million.[4][5]

References and citations

Citations

References

  • Farquhar, I.J. (1996). Jack of All Trades, Master of None: The Shipping Corporation of New Zealand Limited 1973-1989. Wellington, NZ: New Zealand Ship & Marine Society. ISBN 0959783458.
  • Hayward, Margaret (1981). Diary of the Kirk Years. Auckland: Reed Publishing. ISBN 0589013505.CS1 maint: ref=harv (link)
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.