The Shipping Corporation of New Zealand was a New Zealand shipping company created by the Third Labour Government led by

Norman Kirk Norman Eric Kirk (6 January 1923 – 31 August 1974) was a New Zealand politician who served as the 29th prime minister of New Zealand and as well as the Minister of Foreign Affairs (New Zealand), minister of Foreign Affairs from 1972 until h ...

in 1973.

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." 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 Shaw Savill Line of London was a shipping company set up to transport both produce and passengers between Great Britain and New Zealand.Prospectus ''The Times ''The Times'' is a British Newspaper#Daily, daily Newspaper#National, national n ...

offered two vessels, the ''Laurentic'' and the '' MV Zealandic'', for the shipping line.

Formation

The Shipping Corporation of New Zealand Act 1973 established the corporation as a

statutory corporation A statutory corporation is a corporation, government entity created as a statutory body by statute. Their precise nature varies by jurisdiction, but they are corporations owned by a government or controlled by national or sub-national government ...

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

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 A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goo ...

, and was required to make a profit.

Privatisation

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

References and citations

Citations

References

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External links

Australasian Legal Information Institute - Shipping Corporation of New Zealand

New Zealand Merchant Service Guild – History
{{authority control Defunct transport companies of New Zealand Government-owned companies of New Zealand Shipping companies of New Zealand New Zealand companies established in 1974 Transport companies established in 1974 1989 disestablishments in New Zealand