Section 5 of the Act provided that “the principal objective of every port company shall be to operate as a successful business”. The Company was incorporated on 18 October 1988 and purchased the required assets from the Northland Harbour Board, which was subsequently disestablished.
In 1992 the Company’s shares were listed on the New Zealand Stock Exchange. Northland Regional Council now holds 53.6% of the share capital, whilst Ports of Auckland Ltd holds 19.9%. The balance of shares are held by members of the public.
The development of the new Cargo Terminal at Marsden Point – a 50/50 joint venture with Port of Tauranga saw a new associate company Northport Ltd formed in August 2000.
In August 2014 Northland Port Corporation changed its name to Marsden Maritime Holdings Ltd.