CentrePort signals investment

Industry Database

This year, CentrePort Wellington will lodge a 34-year consent to deepen its draft from 11.3 metres to 14.5 metres in all tides as part of a NZ$75m investment over three years.

Seeking to become an “all tides” operation, the port is expediting its deepening plans amid speculation the current economic environment could influence carriers to deploy larger containerships to this country sooner than expected.

At the time of signing an agreement with Kotahi Logistics in the middle of 2014, Maersk Line signalled it would be bringing 6,500 teu containerships to New Zealand “within a few years”.

Also included in the planned investment is the establishment of about three hectares of currently undeveloped land east of the inter-island ferry terminal at Kaiwharawhara Point to increase log storage capability.

CentrePort recently made a presentation on its plans and financial performance to Horizons Regional Council. Horizons has a 23.08% stakeholding in the port with the remainder being held by the Greater Wellington Regional Council.

Having recently secured a new CMA CGM Americas and Europe service call, the central New Zealand port returned an almost 50% comparable increase in profit for the six months to December 31, 2015 of NZ$4.6m.

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