MEDIA STATEMENT

 

16 December 2013

NEW RECORDS ACROSS THE BOARD

Napier Port has reported a Net Profit after Tax of $11.830 million for the 30 September 2013 year. This was 6.7% higher than last year’s result.  Revenues increased 3% to $62.097 million ($60.287 million). 99.97% of the revenues come from port operations.

“A combination of container mix, higher container and general cargo volumes and improvements in productivity while aggressively managing costs saw EBITDA (Earnings Before Interest, Depreciation and Amortisation) lift to $27 million,“ says Napier Port’s Chairman, Jim Scotland.

Mr Scotland says non-containerised, general cargo volumes grew by 9.8% from 2012 levels. The increase was mainly driven by the forestry sector – logs, wood pulp and sawn timber all having record tonnages. The stand-out performer was logs, rising 23% over 2012 to 1.2m tonnes. These are now sourced from a wide area, including central North Island, Manawatu/Wanganui and Wairarapa regions. Napier Port sees this trend continuing.

“Despite difficult climatic and trading conditions in 2013, total trade volumes rose strongly to a new 3,986,614 tonnes record, up 7.4%. Import volumes remained steady, despite the drought-related effect on fertiliser volumes. Export volumes grew however by 9.2%.” he says.

Containerised tonnages rose by 3.8% handled in a new record 206,272 TEU’s (Twenty Foot Equivalent Units) during the twelve months.

“As cargo volumes have increased during the year, shipping options have also expanded. The continued inclusion of Napier Port as a port of choice for all major container services is particularly satisfying” says Napier Port’s Chief Executive, Garth Cowie.

Napier Port is now established as the key container and general cargo port in central New Zealand with its international container volumes comfortably exceeding the combined total volume of the other three central New Zealand ports.

Napier Port is now clearly the fourth largest container terminal in New Zealand, following Auckland, Tauranga and Lyttelton.” says Mr Cowie.

“Overall international vessel numbers rose to 605 calls, or 9.6% above 2012. Container shipping further improved with 336 vessels handled. The 2014 peak season looks to be equally as busy with 3 additional services scheduled. 2 of which are new to Napier Port” he says.

Increasingly larger vessels continue to be handled In Napier, with new records in 2013:

Mr Cowie confirmed that during 2013, Napier Port started handling container vessels with a beam of greater than 32m.  Today Napier Port handles exactly the same size and range of container vessels as the likes of Auckland, Tauranga and Lyttelton (see International Port Visits table below).

 

INTERNATIONAL PORT  VISITS – CONTAINER VESSELS

Ship Size

(TEU capacity)

Napier

Auckland

Lyttelton

Tauranga

3000-3499

40

64

25

63

3500-3999

90

121

61

115

4000-4499

33

27

31

34

4500-4999

6

5

6

6

Extract from MOT “FIGS” Report – Y/E 30 June 2013

“Despite the focus on containerised cargo, general cargo in bulk or break bulk form, still represents the largest proportion of total port throughput. General cargo accounts for 60% of Napier’s imports and exports by weight”.

“Napier Port handles a nationally significant 10% of New Zealand’s total exports (by weight). To ensure the Port continues to cater for cargo growth, the 50-year Long Term Infrastructure Master Plan was again reviewed in detail during the year. By 2023, Napier Port’s container terminal expects to be handling in excess of 300,000 TEU’s and 4.0m tonnes of general cargo. $150 million of capital has been budgeted to replace and expand capacity to meet the projected cargo needs. $21m was invested in 2013.” Mr Cowie says.

HIGHLIGHTS

ENDS