Napier Port 2019 trade volumes in line with forecasts

Napier Port (NZX.NPH) trade volume data for the year to 30 September 2019 released today shows trading volumes in line with forecasts released at the time of the launch of its initial public offer in July of this year.

Napier Port intends to provide volume data updates on a quarterly basis as part of its reporting program on an ongoing basis. Napier Port’s 2019 financial results will be published on 19 November 2019.

Container Services

Combined export and import trade TEU volume of 267k was 2.5% above forecast for the year and 3.2% higher compared to 2018. Combined with fewer Discharge, Load, Restows (DLRs or ‘other container movements’) the total container TEU volume of 271k was 1% ahead of forecast and 2% ahead of the prior year.

Higher export volumes were driven by a record export season for apples, increased meat exports and decreased canned food / other food exports.

Missed calls due to weather events and shipping service changes contributed to lower container vessel calls than forecast.

Bulk Cargo

Bulk Cargo total volume of 3,404k Tonnes was 1% above forecast for the year. Log volumes were in line with forecasts, supported by higher log volumes from the Gisborne region during the fourth quarter. Other exports were lower than forecast due to fewer exports of bulk timber and lower tallow volumes, amongst other smaller categories.

Cruise Services

The 70 cruise vessel calls for the 2019 financial year were in line with forecasts and represented 22.8% growth compared to 2018.

Napier Port 2019 Trade Volume Data

© Scoop Media