Kiwi ports experience differing years

Port Taranaki has returned a comparable dip of 3.2% in net after-tax profit to NZ$11.37m and CentrePort Wellington a rise of 4.2% in net after-tax profit (prior to earthquake and fair value adjustments) to NZ$12.3m during the 2014-2015 financial year.

The West Coast North Island port also experienced a drop of 10.6% in revenue to NZ$49.4m, while the Capital City port -- whose operations were significantly affected by earthquakes in August 2013 -- returned a 5.9% lift in revenue to NZ$69.8m.

Having lost its sole remaining container service during the year, Port Taranaki nonetheless recorded a 1.7% rise in overall trade to 5.6m freight tonnes. Lower activity from the log, container and offshore exploration sectors said to have been offset by increases in volumes of methanol and gas exports.

Highlights of CentrePort’s year included a 13% lift in container trade to 107,407 teu and 8% rise in log trade to 875,028 JAS. The port also announced plans to deepen its harbour shipping channel to accommodate larger-calling vessels to facilitate ongoing direct access to international markets for central New Zealand shippers.

Port Taranaki expects its current financial year returns to be further reduced, while CentrePort is expressing confidence such developments as the securing of two new container services combined with foundations laid for growth will deliver improving returns.

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