CentrePort has reported a 69% increase in container volumes for the year to June 30, helping lift underlying net profit after tax by 19% to $20.9 million.
The Wellington port handled a record 145,155 twenty-foot equivalent units during FY26 following the introduction of new weekly shipping services.
These included MSC Eagle from February and the COSCO and OOCL ANE service, adding to CentrePort’s existing connections with Asian markets.
Full export container volumes rose 31%, while full imports increased 4%.
CentrePort chief executive Anthony Delaney says the expanded services demonstrate confidence in the port’s operations and support Wellington’s growing role in the national freight network.
“The arrival of new MSC services, alongside the addition of COSCO/OOCL’s weekly ANE service, and our existing Asian services, underscores the confidence global shipping lines have in our capability and operations,” Delaney says.
“It strengthens Wellington’s connection to international markets and enhances the resilience of New Zealand’s supply chain.”
The port says its development as a container hub, combined with steady activity in logs, fuel, vehicle imports and other cargo, is strengthening its position within New Zealand’s supply chain.
“This arguably positions CentrePort as a port with the capability to meet New Zealand’s growing needs, and with the ability to rapidly create future capacity to meet our customer demands,” Delaney says.
Underlying net profit increased by $3.3m from FY25 and finished $2.3m ahead of the target set in CentrePort’s Statement of Corporate Intent.
Net revenue rose 16% as cargo activity strengthened, while earnings before interest, tax, depreciation and amortisation increased 32%.
EBITDA as a proportion of net revenue improved from 31% to 35%.
CentrePort says the stronger operating margin more than offset higher depreciation, lower investment income and reduced returns from subsidiaries and joint ventures.
Underlying earnings have increased at a compound annual growth rate of 27% since FY22.
Chair Lachie Johnstone says the result reflects the resilience of the port’s diversified business and its longer-term growth strategy.
“FY26 has been another year of strong growth for CentrePort,” Johnstone says.
“We have delivered increased profitability, grown cargo volumes across several key trade segments and continued to invest in the infrastructure and capability needed to support New Zealand’s supply chain.”
CentrePort employed an additional 51 people during the year to meet increased business demand and is continuing to recruit as it expands capacity.
“Our current and anticipated growth means we are continuing to hire, building more capacity and capability for the port,” Johnstone says.
“This shows that Wellington’s economy and business is starting to improve.”
Logs, fuel and vehicle imports increase
Log exports reached 1.89 million Japanese agricultural standard tonnes, up 2% from FY25 and 8% ahead of the port’s corporate target.
Bulk fuel imports increased 5% to 985,827 tonnes despite disruption across global fuel markets. The result was 4% above forecast.
CentrePort also handled 14,706 imported vehicles during the year, a 9% increase from FY25.
The port invested $39.7m in infrastructure and other assets to support current operations and future cargo growth.
Net assets increased to $525.7m, while declared shareholder dividends rose 18% to $13m.
CentrePort hosted 71 cruise ship visits during the year, slightly fewer than in the previous season.
Around 108,000 passengers arrived through the port, along with crew numbers equivalent to an additional 30% of the passenger total.
Fewer cruise vessels are scheduled to visit Wellington and New Zealand during the current season, but the port says bookings are improving further out.
“We saw this coming and have done a considerable amount of work with the NZ Cruise Association, other ports in New Zealand and with WellingtonNZ regionally, to engage with cruise lines and rebuild bookings,” Delaney says.
“This is already paying off with a considerable number of additional bookings coming in for the 2027/28 and 2028/29 seasons.”
CentrePort says it will focus on consolidating its recent growth, improving efficiency and maintaining enough capacity to respond to changing customer demand.
