NPH - Third Quarter 2022 Trade Volumes

Friday 8th July 2022

Napier Port (NZX.NPH) today releases trade volume data for the third quarter and nine months ended 30 June 2022. Compared to the third quarter in 2021, containerised cargo volume increased by 1.5% and bulk cargo volume decreased by 2%.

Napier Port Chief Executive Todd Dawson said ‘We are pleased to see an improvement in trade volumes this quarter, following a challenging first half start to the financial year. Volumes for the quarter are broadly in line with the prior year, indicating an easing in some of the additional pressures we faced earlier in the year.

‘Container shipping conditions throughout the third quarter were largely unchanged from the first half, with schedule reliability continuing to be unpredictable, resulting in missed or delayed vessels and larger exchanges of cargo across fewer vessel calls.

‘Log volumes for the quarter remained relatively high, despite a small decrease compared to the prior year, largely due to the third quarter 2021 being the highest quarterly log export volume on record at Napier Port.

‘Despite the improvement in volumes since the first half of the financial year, we are continuing to see the impact of shipping constraints, coupled with reduced overall production within customer operations caused by Covid, labour shortages and weather events.’

Container Services

Total container volumes for the third quarter of 82k TEU increased 1.5% from 80k TEU in the same period a year ago due to higher other container movements and containerised imports offsetting lower reefer exports.

For the nine months year to date to June, total container volumes of 194k TEU have decreased 9.8% from 215k TEU in the same period a year ago. Full container volumes have decreased 9.1%, and empty and other container movements decreased 10.8%.

Dry export cargo for the third quarter increased 1.3% to 16k TEU as higher wood pulp and canned food offset lower timber volume.

Reefer export cargo for the third quarter decreased 13.7% to 20k TEU. The decrease was driven by lower volumes of export apples and fresh and other chilled produce. Lower volumes of apples are being exported as a result of industry labour shortages and weather events during the crop harvest. Other chilled produce volumes have reduced as a result of lower onion exports, also due to industry labour shortages and weather events earlier in the year.

Containerised imports for the third quarter increased 1.9% to 39k TEU due to continued growth in dry imports. Dry imports have increased 5.4% during the nine months to June compared to the same period in 2021.

Other container movements for the third quarter increased 87.5% to 6k TEU due to increased DLR movements.

Container vessel calls for the third quarter were 54, down from the 58 calls in the prior year.

Bulk Cargo

Total bulk cargo volume, compared to the same periods a year ago, decreased 2% for the third quarter to 1.0 million tonnes, and decreased 6.3% for the nine months to 2.7 million tonnes.

Log export volumes decreased 42k tonnes, or 5.1%, to 774k tonnes for the third quarter and 154k tonnes, or 6.9%, to 2,090k tonnes for the nine months as relatively high export volumes were maintained and export conditions remained largely unchanged from the first half of the financial year.

Charter vessel calls for the third quarter were 81, down from the 89 calls in the prior year, and principally due to larger average vessel load sizes for log charters.

Cruise Services

One domestic cruise vessel called during the nine months. With the recent removal of border restrictions cruise vessel calls are expected to resume during the next financial year.

Napier Port notes that it intends to provide a further interim update to the NZX market regarding our June quarter trading results on 24 August 2022.

ENDS

NPH Third Quarter 2022 Trade Volumes

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