New Zealand’s Napier Port has invested NZ$34m in expanding its terminal capacity and increase productivity.
The investments have impacted the port’s bottom line, with a 3.7 per cent decline in its annual profit to NZ$12.9m in the year ending 30 September 2015,
The fourth largest container terminal in New Zealand, and largest port in central New Zealand, also reported a 7.6 per cent increase in revenue to NZ$72.1m, with container volumes up 16.5 per cent.
“The investments made throughout the year have resulted in increased productivity. Trucks are being processed faster and more containers loaded per hour during the peak export season — from summer through autumn when pipfruit is exported and when demand for space is at a premium,” Napier Port chairman Alasdair MacLeod said.
Napier Port chief executive Garth Cowie said that despite a significant loss of dairy volume, the port processed more than a quarter of a million TEUs for the first time.
“Looking ahead to the next financial year we expect to see an increase in apple volumes and water exports, which should help offset the further loss we expect from the dairy sector,” Cowie said.
