One of the less active ports in New Zealand had another record profit year.
The New Zealand Herald reported yesterday that Napier Port had another record profit this year as the amount of cargo handled also hit a record.
Net profit lifted 5.4% to $17.6 million in the year ended September 30 on a 5.8% increase in revenue to $91.7 M.
The port’s annual report showed it handled a record 5.1 million tonnes of cargo, with log exports lifting 35% to a record 2.2 Mt. A total of 266,006 containers or twenty-foot equivalent units passed through the container terminal, and the port's onsite packing operation handled a record 51,126 TEU containers.
Napier Port chief executive Todd Dawson said an extraordinary amount of cargo came through Napier Port the previous financial year as a result of earthquake damage to Wellington's port.
“To not only match that figure this year, but to beat it by more than 320,000t, really shows the pace of growth in Hawke's Bay,” he said.
Dawson said the port is also handling larger ships and a growing cruise industry.
A total of 684 ships called at Napier this year, including 57 cruise ships.
A report by BusinessDesk said Napier Port paid $10 M in dividends to the Hawke's Bay Regional Investment Co.
Looking ahead, Dawson said one of the main challenges is how to deal with congestion on the water.
In November, Napier Port was granted resource consent to build a sixth wharf, which will service the container terminal and free up other wharves for the growing log and general cargo trade.
It will also allow the cruise ships Napier Port currently turns away to visit the region and means the port can accommodate larger vessels that are too big for its current facilities.
Sources: nzherald.co.nz; businessdesk.co.nz