Posted on September 1, 2025
Port of Tauranga has posted stronger earnings on the back of rising export volumes but warned mounting berth constraints are now costing the economy after a court decision stalled its expansion plans.
New Zealand’s busiest port says total trade rose 7% to 25.3 million tonnes in the year to June 30, 2025. Container throughput increased 5.3% to 1.2 million TEUs. Revenue climbed 11.3% to $464.7m and underlying group net profit after tax rose 23% to $126.0m.
The NZX-listed port reported net profit after tax of $173.4m, boosted by a one-off $49.2m gain from the Northport sale tied to the Marsden Maritime Holdings transaction. The board declared a final dividend of 9.7c a share, taking the FY25 ordinary payout to 16.7c.
The port’s effort to add capacity has been dealt a fresh setback. A judicial review of its fast-track application for the Stella Passage development was upheld, with the High Court finding the Environmental Protection Authority should not have accepted the bid because the project description in schedule 2 of the legislation omitted “Mount Maunganui wharves”. The error has put the process on hold; a panel due to start on September 1 has been paused.
Chair Julia Hoare says delays were now biting hard, with berths at capacity and the port forced to refuse new services.
“It is very frustrating that in the midst of significant interest from international container lines, we are unable to support new trade opportunities because we don’t have the berth space,” Hoare says.
“We have also lost the flexibility to readily manage congestion when ships turn up off-schedule. When arrivals bunch up, we’re forced to further delay ships at anchor and productivity decreases.
“Ultimately, it is the New Zealand economy and all New Zealanders that suffer. This is critical infrastructure essential for efficient two-way trade for New Zealand.”
The company says it recently turned away a proposed Americas service that could have saved importers and exporters an estimated $65m–$90m a year in international freight costs. An NZ Institute of Economic Research report estimates that without the container-berth extension, New Zealand could miss out on $485m–$749m of annual GDP by 2032. The port is urging the Government to quickly correct the legislative wording blocking fast-track progress.
Cargo mix and operations
Imports rose 13.9% to 8.9m tonnes and exports gained 3.6% to 16.4m tonnes. Dairy volumes increased 2.1% to 2.1m tonnes; meat exports were up 9.6% to 0.8m tonnes. A record kiwifruit season lifted volumes 30.9%, helping drive a 19.8% jump in refrigerated containers to 245,151 TEUs, which pressured plug-in capacity and increased generator use. Coal imports resumed to support electricity generation. Log exports fell 5.9% to 6.3m tonnes amid weaker prices, while stock feed (+46.5%), fertiliser (+18.1%) and cement (+6%) all rose. Transhipped containers increased 9.7% to 306,102 TEU. Ship visits edged up to 1,442.
Only 55% of vessels arrived on schedule, with off-window bunching and limited berth availability hampering yard and crane efficiency. The port has set up a project team to drive terminal productivity and welcomed Parliament’s select committee inquiry into ports and the maritime sector.
Investment, emissions and Northport deal
Stage two of channel-deepening will start in coming months to accommodate larger, more efficient ships. A new ship-to-shore crane was commissioned in February, taking the fleet to eight after retiring two older units, and more cranes are planned once the new berth is consented. The port will trial New Zealand’s first electric straddle carrier and is finalising its first hybrid tug purchase.
Scope 1 and 2 emissions rose 20% to 21,873 tCO2e, reflecting congestion-driven diesel use and a 32% increase in the grid emissions factor. Emissions intensity rose 13% to 0.84 kg CO2e per cargo tonne. The port says automated stacking cranes—estimated to cut emissions by 75% versus diesel-electric manual straddles—are part of its plan but depend on the stalled Stella Passage consent.
In June, Port of Tauranga, Northland Regional Council and Tupu Tonu completed the Marsden Maritime Holdings takeover, forming Northport Group Limited by combining port operations with about 150ha of adjacent land. Port of Tauranga holds 50%, NRC 43% and Tupu Tonu 7%. The company says the simplified structure will better coordinate industrial and logistics development in Northland and Auckland.
Outlook
The new financial year has begun well, with modest import growth and solid dairy and horticulture exports, though global trade tensions, shipping oversupply and geopolitical disruptions remain risks. Earnings guidance for FY26 will be provided at the October 31 annual meeting.
