The New Zealand government is negotiating with Toll New Zealand to buy back its rail and ferry assets and return the NZ rail system to full state ownership. The government already owns the track network, which it bought for NZ$1 as part of the deal that saw Toll New Zealand take over the other assets of the failed Tranz Rail.

Australia’s Toll Holdings has hauled New Zealand’s rail service back into profit for the first time since the 2001 financial year. The financial year ending on 30 June 2005 was Toll’s first full year as the rail operator after it bought the assets of beleaguered TranzRail and later sold the track network back to the New Zealand government for NZ$1.

The true condition of New Zealand’s now state-owned rail network is proving a stumbling block to negotiating track access charges with new rail operator Toll.

The world’s reefer leasing industry enjoyed another good year during 2004, even if it was less dramatic than 2003. All participants, including the seven leading players, reported high fleet utilisation and stable per diem rate levels.

When Australia’s Toll Holdings acquired a majority stake in Tranz Rail (TR) last year, it rebranded the company Toll Rail and agreed in principle to sell the track network back to the government for a nominal NZ$1. Negotiations, however, were long and difficult.

After an 18 month investigation, the NZ Securities Commission has filed insider trading proceedings against former Tranz Rail management, including managing director Michael Beard, CFO Mark Bloomer, directors Carl Ferenbach and David Richwhite and shareholders Midavia Rail Investments BVBA and Berkshire Fund III A Ltd Partnership.

The New Zealand government is negotiating with Toll New Zealand to buy back its rail and ferry assets and return the NZ rail system to full state ownership. The government already owns the track network, which it bought for NZ$1 as part of the deal that saw Toll New Zealand take over the other assets of the failed Tranz Rail.

Australia’s Toll Holdings has hauled New Zealand’s rail service back into profit for the first time since the 2001 financial year. The financial year ending on 30 June 2005 was Toll’s first full year as the rail operator after it bought the assets of beleaguered TranzRail and later sold the track network back to the New Zealand government for NZ$1.

The true condition of New Zealand’s now state-owned rail network is proving a stumbling block to negotiating track access charges with new rail operator Toll.

The world’s reefer leasing industry enjoyed another good year during 2004, even if it was less dramatic than 2003. All participants, including the seven leading players, reported high fleet utilisation and stable per diem rate levels.

After an 18 month investigation, the NZ Securities Commission has filed insider trading proceedings against former Tranz Rail management, including managing director Michael Beard, CFO Mark Bloomer, directors Carl Ferenbach and David Richwhite and shareholders Midavia Rail Investments BVBA and Berkshire Fund III A Ltd Partnership.

When Australia’s Toll Holdings acquired a majority stake in Tranz Rail (TR) last year, it rebranded the company Toll Rail and agreed in principle to sell the track network back to the government for a nominal NZ$1. Negotiations, however, were long and difficult.