Shipping issues sink Napier Port first-half earnings

Napier Port's new wharf extension will cater to 360m cruise ships. (Image: Supplied)

Tue, 24 May 2022

Turbulent shipping schedules and labour issues were reflected in the half-year performance of NZX-listed Napier Port, which posted a 15% drop in net profit to $9 million in the six months ended March 31 from $10.6m a year earlier.In the country's fourth-largest port, container volumes ebbed to 113,000 twenty-foot equivalent units (TEU), down 22,000 TEU on the comparable period, with container ship arrivals falling to 102 from 133.While the port reported a "favourable trading environment" for forestry and other primary exports, the...

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