Port’s vehicle imports slump
The number of vehicles shipped into Wellington’s CentrePort tumbled 23 per cent in the 2020 financial year when compared to the previous 12 months.
There were 20,258 units discharged at the capital’s wharves during the year ended June 30, 2020. This was down from 26,201 vehicles in the previous financial year.
At the same time, CentrePort’s net profit after tax fell from $17.6 million to $14.7m – a drop of 16.5 per cent – as the Covid-19 pandemic dealt a blow to the business. Total comprehensive income net of tax was $157m.
A dividend of $5m was paid to shareholders compared to $4m the year before.
Port bosses admit it has been a challenging year but they are looking forward to its regeneration programme gaining momentum after finalising claims from the 2016 Kaikoura earthquake for $667.2m net of deductibles.
Lachie Johnston, chairman, says it as a watershed moment for CentrePort and allows it to “move from planning to implementation”.
“The planning to deliver a 21st century logistics supply chain asset designed with the assistance of international and New Zealand experts was adopted by the board and relayed to shareholders,” he explains.
“Our regeneration approach is based on the pillars of customer, community, our people, and the environment. These guide the strategic framework for the various projects under way or in planning. CentrePort is in a sound position to continue that momentum.”
Highlights from the 2020 financial year include expanding and upgrading the Waingawa log hub, starting work on an enhanced rail onto port project, and ongoing improvements to the port entrance.
The volume of petroleum and logs shipped into the capital fell 12 and 11 per cent, respectively, from FY2019’s figures. Container volumes held relatively steady and cruise ship visits were up despite a curtailed season.
Derek Nind, chief executive, says improving health and safety also remains a key focus of operations.
“We saw continued growth in ownership of health safety by our people,” he explains. “Through good systems and practice we were well placed to tackle health and safety challenges, including Covid-19.
“Operationally it was a difficult year. In addition to ongoing constraints as regeneration works continued, there were the impacts of the pandemic.
“The global pandemic presents ongoing challenges and uncertainty. Despite this, CentrePort is well placed to continue its regeneration and continue to deliver service and value to the central New Zealand economy.”