Fonterra has updated its earnings guidance for the 2022 financial year that ended on 31 July 2022, indicating that earnings will be towards the top end of its current guidance of 25 – 35 cents per share.
The company has 10-year partnership with Maersk Shipping.
Kotahi chief executive David Ross says the agreement comes with a commitment to each other "to ensure capacity is there for exporters on our platform".
"We realised last year was tough with the constant slippage, so the plan going into this year was to do something different," he says.
"This is to ensure we would get the schedule integrity and the capacity. We need to not put the stress on the supply chain that we've seen in the previous 12 months."
Ross says Maersk has committed to increase capacity to New Zealand this year.
He says while the port congestion doesn't go away, the new schedule will be able to handle that congestion and be on time. He adds that over the last few months, the schedule integrity of key Maersk services in NZ is back to over 80%.
"That just changes everything. The boxes [containers] are coming in when you need them, you are booking the vessels you want and whole flow starts to come back."