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Container growth and new services lift earnings
CentrePort Limited has reported an unaudited underlying net profit of $8.7m for the first half of the 2026 financial year, broadly in line with its full year forecast and $0.5m ahead of the same period last year.
Net revenue was marginally ahead of budget, supported by increased trade volumes across containers, logs and bulk fuel. The result reflects steady cargo flows rather than a one off spike, according to the port’s leadership.
The port has secured three new container shipping services and, as of mid February, has become a key hub for Mediterranean Shipping Company, strengthening its position in New Zealand’s container network.
Board Chair Lachie Johnstone said the interim result shows that a consistent focus on operational fundamentals is delivering results.
“The interim result is pleasing, a clear indicator that the port’s continued focus on efficiency, safety, asset utilisation and having a strong customer focus is paying off,” he said. “But we’re clear that the port’s approach needs to be consistent for all our customers if it is to grow and achieve long term success. None of this is guaranteed if we take anything for granted.”
For freight forwarders and shipping lines, that consistency is often the difference between a reliable call and a costly delay. In a sector where margins can be tight and schedules tighter, even small performance gains matter.
Operational focus in a dynamic market
Chief Executive Anthony Delaney echoed that message, pointing to reliability as a critical factor for Wellington and the wider New Zealand supply chain.
“We need to keep focusing on what we can control, which is finding solutions to our customers’ problems, meeting demand, minimising waste and maintaining strong operational efficiency,” he said. “By doing this, we offer strong options in what remains a very dynamic sector.”
The first half performance comes at a time when ports globally are balancing volume recovery with cost discipline. For CentrePort, container throughput has been the main driver, but growth in logs and bulk fuel has also supported revenue.
The port said it continues to maximise existing capacity while responding to growing business demand. More than 30 new roles have been created to date, reflecting both operational requirements and expansion in services.
“We are extremely proud of this in the current market environment and what our people have delivered to enable economic growth,” Delaney said, adding that the calibre of new recruits reflects the port’s current trajectory.
Infrastructure and energy transition underway
Alongside commercial growth, CentrePort is progressing its energy transition plans. A new solar array is set to be installed on Kings Wharf, while a Battery Energy Storage System is expected to be operational this year.
Site preparation work for the marine infrastructure required under the Cook Strait Ferry Replacement Programme began in late 2025. The port is now advancing design and material procurement and expects to begin major construction works as the programme moves forward.
For project cargo and heavy marine contractors, that upcoming construction phase will be closely watched. Marine infrastructure upgrades often create short term operational constraints before delivering long term capacity gains.
As the first half closes, CentrePort’s numbers suggest a port building steadily rather than rapidly. In the current freight environment, that measured approach may prove to be its most important asset.
