This week Napier Port (NZX.NPH) released trade volume data for the half year ended 31 March 2024.
Compared to the same period a year ago, total container volumes decreased 17.3%, total bulk cargo volumes increased 21.6%, and cruise vessel calls increased from 62 to 88.
As anticipated, due to the impact of Cyclone Gabrielle on key customers’ production facilities, container volumes are down for the half year. However, during the second quarter we have seen a positive bounce back in refrigerated exports of horticulture, meat and other chilled produce as growing conditions across spring and summer have been favourable. Imports and other container movements, such as transhipments, are down and in line with the national trend of slower general domestic economic conditions.
Despite soft export market demand in China, log volumes were particularly strong during the half year with good volume momentum sustained from our underlying catchment areas. Central north island windthrown forests and additional unprocessed log volume from closures at Pan Pac’s fibre manufacturing operations following Cyclone Gabrielle, also contributed to the strong log volume result.
We will provide a further update when we release our financial results for the half year on 22 May 2024.
In the meantime, I hope you enjoy a video the Napier Port team has produced, providing investors with an inside look behind the gates of one of New Zealand’s busiest sea ports.
At the United Nations summit meeting in September 2015, world leaders adopted 17 global goals (and 169 targets) as a set of universal goals that aim to address the urgent environmental, political and economic challenges facing our world. These are known as the United Nations Sustainable Development Goals (SDGs).
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