Napier Port Achieves 16% Revenue Growth in Q3, Boosts Investments

Napier Port has reported a significant increase in revenue for the third quarter of the year, driven by a rise in container volumes and effective cost management. For the three months ending June, revenue surged by 16 percent to $42.5 million, up from $36.5 million during the same period last year. Container volumes grew by 13 percent, while bulk cargo increased by 2 percent.

The port anticipates a full-year underlying profit at the higher end of its forecast, projecting between $59 million and $63 million for the financial year ending in September. Over the nine-month period, total revenue rose nearly 13 percent to $121 million, despite a 9 percent decline in revenue from cruise operations.

Container Volumes and Export Growth

Napier Port’s container volume growth was supported by increased exports of apples, imports of general cargo, and the movement of empty containers to facilitate export operations. Chief Executive Todd Dawson noted that favorable growing conditions contributed to an earlier apple picking season, which resulted in higher volumes of refrigerated containers. Additionally, modifications to shipping line services have led to increased fees, further bolstering revenue.

The cruise season concluded in May with a total of 78 vessel calls and more than 108,000 passengers. However, revenue from this segment fell nearly 9 percent to $8.3 million, down from $9.1 million generated from 89 vessel calls the year before. For the upcoming 2026 season, the port has secured just 61 cruise vessel bookings so far.

Investment Plans and Infrastructure Development

In alignment with its strategic goals, Napier Port plans to increase capital investment in the near term, focusing on enhancing infrastructure and renewing assets. Dawson emphasized the need for such investments, stating, “As outlined at the half-year, we will be increasing capital investment linked to our investment programme focused on infrastructure and capability enhancement, and asset renewal and replacement.”

During the nine-month period, the port’s investment totaled $19.1 million. This includes expenditures on the construction of a dredge vessel, the transformation of the container terminal, mobile plant replacements, and major maintenance efforts. Looking ahead, Napier Port expects to invest approximately $120 million over the financial years 2025 to 2027, with around $30 million allocated for the current fiscal year ending in September.

Overall, Napier Port’s robust financial performance and planned investments reflect its commitment to growth and adaptation in a competitive maritime environment.