Increased volumes across key trading sectors have helped Port Taranaki post an improved result for the first half of the 2025-26 financial year.
For the six months to 31 December 2025, Port Taranaki recorded total trade through the port of 1.74 million tonnes, an increase of 260,000 tonnes, or 18.0%, on the same period of the 2024-25 year.
Liquid bulk trade was up 25,000 tonnes (3.6%) to 717,000 tonnes, dry bulk was up 143,000 tonnes (39.0%) to 512,000 tonnes, and export log trade was up 95,000 Japanese Agricultural Standard (JAS) tonnes (23.0%) to 505,000 JAS.
“It has been a pleasing first half with gains across the key sectors that utilise the port,” Port Taranaki chief executive Simon Craddock said.
“The increase in bulk liquids volumes was led by a small increase in methanol volumes. However, it should be recognised that this is in comparison with the previous year, when there were lower methanol volumes as a result of the Motunui plant being taken offline for a period to provide gas to the electricity market.
“The rise of methanol trade was slightly offset by decreases in LPG and crude volumes, reflecting the falling volumes across producing wells,” Mr Craddock said.
High milk solids prices and reduced interest rates led the increase in dry bulk volumes, while improved weather conditions enabling trucks to access forest sites, more stable log pricing, and an increase in volume coming from outside the port’s traditional hinterland boosted export log volumes through port.
In line with the increase in volume, there were seven more vessel visits compared with the first half of the 2024-25 year.
“The nature of trade through the port means we are exposed to the variances of weather, supply, demand and trade trends. Throughout these ups and downs we remain focused on working with our customers to make trade as easy as possible – helping make businesses successful and fuelling regional growth,” Mr Craddock said.
“We thank our customers for their continued support as we head into the second half of 2025-26.”
For the six months to 31 December 2025, total revenue was $30.93 million, an increase of $5.02m on the same period the previous year. Total operating expenditure was $19.18m, which was down $385,000, achieved through reduced personnel costs, and reduced spending on insurance, repairs and maintenance and professional services.
As a result of increased revenue and reduced operating expenses, net profit after tax was $7.84m, up $3.97m on the corresponding six months in 2024-25.
A final dividend of $4.00m in respect of the 2025 financial year was paid to sole shareholder the Taranaki Regional Council (TRC) in October 2025, and an interim dividend of $4.00m has been approved for the 2025-26 financial year. Dividends paid to the TRC help offset the rates demands for regional ratepayers.
“This is obviously a very good result, and I thank our team for their work to support our customers, grow our revenue, and reduce our costs,” Mr Craddock said.
“We are, however, expecting trading in the second half to be lower given it is likely methanol production will again be idled to allow gas to be used for electricity production during peak winter demand.
“Further reductions in bulk liquids volumes across port are expected in coming years as gas reserves decline. With this comes reduced offshore activity, which we have experienced in the first six months of 2025-26, with our offshore support revenue down 36.0%.”
Mr Craddock said while it was hoped the Government’s decision to remove the offshore oil and gas ban and establish the $200m Gas Security Fund would rejuvenate upstream activity, to ensure the port could sustain energy trade volume reductions, it would continue to focus on reducing costs and stay-in-business capital expenditure, without comprising infrastructural integrity or safety.
“We are also preparing our business for future changes in trade by developing plans for Port Taranaki to become a national energy and logistics hub – a facility with multiuse infrastructure to support a range of businesses and industries, including potential LNG imports; offshore wind production and other new energy projects; decommissioning of oil and gas assets; forestry and agriculture imports and exports; heavy lift project cargo; and possible roll-on roll-off services.
“We are owned by the community and work for the community, so we will continue to look to grasp opportunities that support and benefit Taranaki businesses and help the region to prosper,” Mr Craddock said.
