CentrePort secures profit and growth despite disruption

27 March 2023

CentrePort secures profit and growth despite disruptions

CentrePort Wellington has achieved a $4.3 million net profit for the six months to 31 December
2022, despite ongoing disruptions to New Zealand’s supply chain.

The result is $0.7m more than the profit recorded for the same period in 2021, and is attributed to solid container and log volumes, together with fuel and break-bulk trades, while the return of cruise ships has been the ‘icing on the cake’.

CentrePort Chief Executive Anthony Delaney says the strong result comes amid ongoing challenges with global and domestic supply chains and the rising costs of energy and labour.

“Our growth and profitability is a tribute to the mahi of our people who work hard to keep goods
moving safely and efficiently throughout the central region and beyond.”

“Our 220 dedicated staff have kept the wheels turning during a period of severe constraints at the country’s major nodes in the upper North Island.”

Mr Delaney says the investment in people and assets has made CentrePort one of the most efficient container operations in the Southern Hemisphere. 

“Our investment in seismic resilience is also notable and we are pleased there was no damage to our assets during the recent 6.3 earthquake on the 15th of February 2023.”

Mr Delaney says the Port is making good progress to improve the resilience of Seaview wharf, which should be completed in 2025. 

“Seaview is a critical lifeline for the country’s fuel supply, and is an asset that will play a key role in our transition to alternative fuels.” 

“We’re also aware of the climate crisis and are working towards our long-term goal of being a net zero carbon port by 2040. It’s critical we can meet our customers’ desire to be greener and do the right thing for New Zealand.”

CentrePort paid a $3 million dividend to its shareholders, the Greater Wellington and Horizons
Regional Councils, and thanked them for their on-going support, as CentrePort continues to develop and enhance the resilience of New Zealand’s supply chain.