The Australian stock market closed higher on a day when trade was dominated by the public float of Queensland freight railways, QR National.

Port of Tauranga has reported strong rises in forestry-related exports and in imports of grain and dairy food supplements.

Yet again, taxpayers are giving the railways a helping hand - $750 million over three years. Good money after bad, or the start of the rail revival? Nick Smith reports.

Nobody can agree on a single narrative about why NZ rail failed and continues to lose money.