NEW ZEALAND's North Island Napier Port posted a 10 per cent year-on-year quarterly decline in container volume to 56,000 TEU having suffered a 31.6 per cent year on year drop from 82,000 TEU the previous quarter, reported Auckland's Investment Research Group (ShareChat).
For the nine months year to date to June, total container volumes of 175,000 TEU have decreased 10 per cent from 194,000 TEU in the same period a year ago. Full container volumes have decreased 17.1 per cent, and empties decreased 0.7 per cent.
Said Port Napier CEO Todd Dawson: 'Following a strong start to the financial year, the third quarter to June 2023 has been challenging. As anticipated, we have seen reduced volumes due to the impact of Cyclone Gabrielle.
'Damage to seasonal crops have resulted in lower volumes of export apples and other produce, and the closure of Pan Pac's wood processing facilities has seen a significant reduction in wood pulp and timber volumes,' Mr Dawson said.
Napier Port's expectation is that trade would remain subdued in the second half, with a return towards traditional export flows next year.
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For the nine months year to date to June, total container volumes of 175,000 TEU have decreased 10 per cent from 194,000 TEU in the same period a year ago. Full container volumes have decreased 17.1 per cent, and empties decreased 0.7 per cent.
Said Port Napier CEO Todd Dawson: 'Following a strong start to the financial year, the third quarter to June 2023 has been challenging. As anticipated, we have seen reduced volumes due to the impact of Cyclone Gabrielle.
'Damage to seasonal crops have resulted in lower volumes of export apples and other produce, and the closure of Pan Pac's wood processing facilities has seen a significant reduction in wood pulp and timber volumes,' Mr Dawson said.
Napier Port's expectation is that trade would remain subdued in the second half, with a return towards traditional export flows next year.
SeaNews Turkey