2024 Financial Year Trade Volumes

Napier Port (NZX.NPH) today releases trade volume data for the fourth quarter and financial year ended 30 September 2024.

Total annual containerised cargo volume increased by 3.4% and bulk cargo volume increased by 9%, compared to the same period a year ago. For the fourth quarter, containerised cargo volume increased by 24.5% and bulk cargo volume decreased by 10.7%.

Chief Executive Todd Dawson said: “Our annual volumes reflect the continuing regional trade recovery following the Cyclone Gabrielle event in February 2023. Containerised volumes for the year were driven by the ongoing bounce back of refrigerated exports of fresh produce, apples and meat, together with higher exports of wood pulp and timber as Pan Pac’s production mills continued their recovery ramp up.

“Bulk cargo volumes were driven by solid log export volumes, that included Central North Island windthrown logs and unprocessed logs from Pan Pac, particularly during the first half of the year.”

Container Services

Total container volumes for the fourth quarter increased 24.5% to 59k TEU from 47k TEU in the same period a year ago, due to continued regional recovery following cargo losses caused by Cyclone Gabrielle in the prior year comparative period. Export wood pulp and timber increased 73% to 11k TEU for the quarter due to the continued reinstatement of Pan Pac’s wood pulp and timber mills.

Total annual container volumes increased 3.4% to 230k TEU from 222k TEU in the prior year. Full container volumes increased 3.8%, and empty and other container movements increased 2.9%.

Containerised exports for the year of 105k TEU increased 1.6% from 104k TEU in the prior year. Dry exports decreased 4.6% to 48k TEU from 50k TEU and reefer exports increased 23% to 48k TEU from 39k TEU, primarily due to apple exports and fresh and other chilled produce in the prior period being impacted by weather related crop losses. Empty export containers decreased to 10k TEU from 14k TEU as the prior period featured shipping lines exporting surplus equipment in response to cyclone affected lower full container exports.

Containerised imports increased by 7.4% to 108k TEU from 101k TEU in the prior year, primarily due to higher import empty containers required for export cargo.

Other container movements for the year decreased by 8.8% to 16k TEU as lower transhipments were partially offset by higher DLR movements.

Container vessel calls for the year decreased to 246 from 251 calls last year.

Bulk Cargo

Total bulk cargo volume decreased 10.7% for the fourth quarter to 0.8 million tonnes, and increased 9% for the year to 3.5 million tonnes, compared to the same periods a year ago.

Log export volumes decreased 95k tonnes, or 12.3%, to 676k tonnes for the fourth quarter and increased by 342k tonnes, or 13.5%, to 2,866k tonnes for the year. The strong volume momentum of the first half year slowed in the second half, in line with anticipated decreases in volumes from central north island windthrown forests and unprocessed logs sourced from Pan Pac.

Charter vessel calls for the fourth quarter reduced to 60 from 65 in the prior year comparative period, and decreased to 236 from 272 for the full financial year, primarily due to larger average vessel load sizes.

Cruise Services

The 2023-24 season saw 89 cruise vessel calls to Napier Port.

ENDS

For more information:

Investors
Kristen Lie
Chief Financial Officer
DDI: +64 6 833 4405
E: [email protected]

Media
Jo-Ann Young
Corporate Affairs Manager
DDI: +64 6 833 4521
E: [email protected]

About Napier Port

Napier Port is the gateway for Hawke’s Bay and lower North Island’s exports and operates a long-term infrastructure asset that supports the regional economy. We service containers, bulk cargo, and host a significant number of cruise ship visits. Our strategic purpose is to collaborate with the people and organisations that have a stake in helping our region grow. View Napier Port’s investor centre: www.napierport.co.nz/investor-centre/

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Announcement PDF