Tuesday 22nd of January 2019 - 07:01:35 AM
Centreport Reaches Settlement on Commercial Properties

CentrePort and its insurance partners have reached a final settlement on its commercial properties claim including the earthquake-damaged former BNZ building which has been earmarked for demolition.

The commercial properties claim has been settled for $170 million. This covers a lump sum settlement for the former BNZ building, Statistics House and Shed 35, and repairs to Customhouse, Shed 39 and other sundry properties.

The commercial properties claim is separate from the Port infrastructure claim which CentrePort is continuing to work on with its insurers.

The former BNZ building was badly damaged in the 14 November 2016 Kaikoura earthquake and has remained vacant since then. The BNZ terminated its lease on the building in March this year, having tenanted it since 2009.

“We appreciate the ongoing support of our insurers as we’ve recovered from the significant impact of the Kaikoura earthquake, which has reshaped our entire business,” CentrePort Chief Executive Derek Nind says.

“We plan to demolish the former BNZ building, based on the advice we have received as to its condition. This will allow us to advance the regeneration of our business and strengthen the land in and around Harbour Quays, while also maintaining the StraitNZ Bluebridge ferry service – a vital part of the Wellington Lifelines emergency capability.”

Mr Nind said the Harbour Quays land was an integral part of the port’s regeneration and resilience plans and would support its current growth trajectory.

“We need a larger footprint as we work through our regeneration plans and reconfigure our land and berth capability.”

CentrePort has previously demolished several earthquake-affected buildings on its land, including Statistics House, Shed 35, Shed 37, the Dimond building, the MSC building and the former NZ Rugby Union building.

Mr Nind says the decision on the former BNZ Building brings closure on a difficult time in the port’s history, while opening a new chapter for its future.

Record Cargo Volumes Boost CentrePort Profit
Strong cargo volumes have helped drive up CentrePort’s underlying profit for the 2017/18 financial year.

CentrePort recorded an underlying net profit after tax and before fair value and earthquake impact adjustments of $11.8m, a 37 percent increase from $8.6m the previous year.

Strong trade volumes saw revenue increase by 16 percent from $63.7m to $73.8m.

CentrePort achieved these increases despite ongoing operational constraints as a result of the 2016 Kaikoura earthquake. These included the two ship-to-shore cranes being out of action for first two-a-half months of the financial year, and significant ongoing remediation and repair work.

The port achieved several record cargo volumes. Log volumes continued to grow, up 23 percent with 1.34 million JAS* exported - the largest amount moved by the port in a single year.

Vehicle volumes hit a new high of 28,099 units while for the first time CentrePort achieved back-to-back handling of one million tonnes of petroleum in successive years. Container volumes rebounded strongly, up 64 percent as exporters/importers and shipping lines returned following the quake disruptions.

Chairman Lachie Johnstone said the result shows the business is recovering strongly from the impacts of the Kaikoura earthquake.

A dividend of $2m to shareholders was announced in June, the first since 2016 due to capital requirements as a result of the quake the previous year.

“The strategies put in place to get the business up to speed have worked. While remediation and repairs continue, operationally the port is in most instances exceeding pre-quake levels. CentrePort is back in growth mode,” he said.

Chief Executive Derek Nind said the result is reward for a year of hard work by staff and contractors.

*JAS – Japanese Agricultural Standard – the global industry standard measurement of log volume. 1 JAS is approximately 1 tonne.

CentrePort Dividend After Quake Bounce Back

CentrePort has announced a $2m interim dividend reflecting the company’s bounce back from the impact of the 2016 Kaikoura earthquake.

Due to capital requirements to build resilience into the Port, shareholders (Greater Wellington Regional Council and Horizons Regional Council) did not receive a dividend in the 2017 Financial Year.


CentrePort has achieved net profit after tax of $4.9 million for the six months to 31 December 2017.

CentrePort Invests in Regeneration of Port

CentrePort’s underlying profit before earthquake-related income, fair value adjustments and tax was $10.8 million for the 2016/17 financial year, up from $5.4 million for the six months ending 31 December 2016.

Statistics House Earmarked for Demolition

Statistics House will join the list of Wellington buildings that need to be demolished because of damage sustained in last November’s Kaikoura earthquake, now that insurers have decided the building is not economically viable to repair.

Another Bumper Cruise Season Ahead

CentrePort has welcomed the first ship of the 2017/18 cruise season, Radiance of the Seas, which brings with it another busy season.

CentrePort's HurryCranes Resume Container Operations

CentrePort’s two ship-to-shore cranes are back in action today – the first time since last November’s Kaikoura earthquake.

New Vessel Marks New Era for Wellington Shipping

A New Zealand-made pilot vessel has arrived at CentrePort, bringing world-leading capabilities to help future shipping navigate Wellington’s harbour.

World’s Largest Shipping Line Returns to Wellington

Maersk Line has announced it will resume its weekly container shipping service to Wellington.

CentrePort to Remove Earthquake-Prone Buildings

A metal curtain will be erected alongside Waterloo Quay this month in preparation for the demolition of the former MSC (“Seaworks”) and Shed 29/G&A buildings.

CentrePort Supports Taranaki Businesses with New Plymouth Hub

CentrePort is developing a New Plymouth rail hub to provide local importers and exporters with reliable and cost effective access to international markets.

Contractors Begin Final Stage of Removing Shed 35

CentrePort staff will mark the end of an era as contractors begin the final stage of dismantling Shed 35 – a vacant cargo store badly damaged in last November’s 7.8 magnitude earthquake.

CentrePort Welcomes Findings of Report into Statistics House

CentrePort has welcomed the conclusions of the technical investigation into the performance of Statistics House in the 14 November 2016 Kaikoura Earthquake.

CentrePort Post Strong Half-Year Result

CentrePort has achieved net underlying profit after tax (before earthquake provisions and Fair Value Adjustments) of $8.8 million for the six months to December 2016.

CentrePort Resumes Regular Container Service

Regular container shipping is returning to Wellington, with weekly visits by a geared ship linking central region businesses with international markets.

CentrePort to Secure Cranes as Recovery Continues

Next week CentrePort will begin work to secure its gantry cranes, as it develops plans to resume modified container operations within four to six months.

Safety Issues Prompt Urgent Work on Earthquake-Damaged Shed 35

CentrePort will start urgent work to contain asbestos on the roof of Shed 35 – a vacant cargo store severely damaged in the 7.8 magnitude earthquake on 14th November.

CentrePort Considers Options for Earthquake-Damaged Buildings

CentrePort says it is working closely with Wellington City Council and other stakeholders on various options for a number of its port buildings that were seriously damaged in the 7.8 magnitude earthquake on 14th November 2016.

CentrePort Welcomes Another Inaugural Cruise Ship Visit

Tomorrow morning the MS Maasdam will be welcomed to Wellington for the first time, as post-earthquake repairs allow the cruise season to continue.

CentrePort Confirms New Ways to Get Containers Moving Again

With the help of shipping lines, customers and suppliers, CentrePort staff have managed to implement new ways to get container freight moving through the port, following the impact of last week’s 7.8 magnitude earthquake.

Car and Log Deliveries Reinforce Progress at CentrePort

Wellington’s Port continues to make good progress in resuming services following the 14 November earthquake, although challenges remain.

MBIE releases Statistics House investigation Terms of Reference

The Ministry of Business, Innovation and Employment (MBIE) has released the Terms of Reference for its investigation into Wellington’s Statistics House.

Centreport Resumes Most Services a Week After Earthquake

 A week after a 7.8 magnitude earthquake hit New Zealand, CentrePort has resumed most operations and is focussed on minimising disruption to its customers.

Sea side exclusion zone applied to Wellington’s wharves
Please read more at:
Cruise Ship to Berth in Wellington on Monday

Wellington will welcome the inaugural visit of the Pacific Aria on Monday 21 November 2016.

CentrePort Welcomes Government Inquiry into Buildings

CentrePort says it welcomes the Government’s announcement that it will commission a technical investigation into the performance of several modern buildings during Monday’s 7.8 magnitude earthquake.

Parts of CentrePort Reopened for Business

With the support of various agencies, suppliers and customers, CentrePort has managed to resume key parts of its business within 72 hours of Monday’s 7.8 magnitude earthquake which caused damage to buildings, wharves and roadways with liquefaction and differential settlement in places.

Update on CentrePort Earthquake Response

CentrePort has conducted preliminary engineering assessments of its port infrastructure, following the 7.5 magnitude earthquake that struck North Canterbury early Monday, while also managing adverse weather conditions today.

CentrePort - Status Update

Chief Executive Derek Nind has said in a statement that CentrePort staff are coordinating inspections of port property and assets during daylight hours today.

NZ’s Harbourside Capital Cruises Into New Season

Wellington, welcomes the first cruise ship of the season tomorrow, 5th October 2016, the 2000 passenger Radiance of the Seas.

Excellent Results Provide Platform for Further Growth

CentrePort is pleased to announce a net profit after tax of $17.9 million for the year to 30 June 2016, up $3.9 million on last year, resulting from a strong increase in trade and a positive earnings performance and property revaluation outcome.

New Waingawa Log Hub Underpins Regional Growth and Trade

CentrePort has invested in a new regional hub in the Wairarapa.

New Pilot Vessel a Key Part of CentrePort’s Growth Strategy

From August 2017, CentrePort’s Marine Team will have a new jet powered pilot vessel capable of speeds up to 31 knots.

VGM Customer Advisory

As part of the international requirement under the International Maritime Organisation (IMO), and the amendments made to the Safety of Life at Sea convention (SOLAS) to require, as a condition for loading a packed container onto a ship for export, that the container has a verified weight.

CentrePort Welcomes Bonus Cruise Call

CentrePort is to host themaiden visit of the cruise ship, MS Insignia this weekend.

CentrePort Deal a Win for Toyota Customers

Toyota – the world’s largest car manufacturer – is now shipping cars to CentrePort to improve speed of delivery to customers in the Lower North Island.

CentrePort Announces Fantastic Cruise Season

 CentrePort is celebrating the end of a record cruise ship season where 230,000 visitors got a taste of unbeatable Wellington days.

Mid-Year profit for CentrePort

CentrePort posted a net profit after tax of $4.6m for the six months to December 2015, $1.5m up on the same period last year (profit $3.1m).

Security Exercise taking place at CentrePort

CentrePort and Silver Fern Shipping will conduct a joint security exercise on port this week, supported by Maritime NZ and NZ Defence Force.

CentrePort set to welcome Guayas to Wellington

CentrePort is set to welcome the picturesque Ecuadorian naval training ship, the Guayas, to Wellington on Sunday morning.

CentrePort - New Chief Executive Announcement

Derek Nind is the new Chief Executive of CentrePort.

Mr Nind is currently the General Manager, Commercial at CentrePort, having joined the company in 2013, following a significant career associated with the port sector.

Mr Nind will commence his new role from 18 December.

Chairman Warren Larsen said "Derek was appointed following an extensive recruitment process. He brings a strong commercial focus to the company, which is vital to our ongoing success and efforts to be the port of choice for central New Zealand."

"The company has been producing very positive results, which Derek has been a key part of. His appointment will support sustaining that positive momentum."

Mr Nind said "I am very satisfied with CentrePort's progress to date, and I am extremely focused on meeting the needs of our expanding customer base in central New Zealand."

Mr Larsen said "I would also like to take this opportunity to thank outgoing Chief Executive Blair O'Keeffe for his leadership of the company over the last seven years."

"During his tenure the company has refocused its strategy, re-capitalised, redeveloped its culture and grown its earnings materially. He has also brought a strong focus to health and safety. He leaves on the very best of terms and with our good wishes."



For more information, contact:

Sarah Toase

Phone: 04 495 3844

Email: sarah.toase@centreport.co.nz

Website: www.centreport.co.nz




New Shipping Service to Benefit Regional Importers and Exporters

CentrePort is pleased to announce the addition of a new international container shipping service.

Blair O'Keeffe - CEO Announcement

CentrePort Chief Executive Blair O’Keeffe has announced his resignation.

CentrePort Welcomes Arrival of Kaiarahi to Wellington

The arrival of Interislander’s new ferry Kaiarahi is another positive development for Wellington and the central region of New Zealand, CentrePort Chief Executive Blair O’Keeffe says.

Strong Result Provides Platform for Further Growth

CentrePort posted a net profit after tax of $14 million for the year to 30 June 2015, a turnaround from last year’s earthquake affected loss.

CentrePort Brings The World to Whanganui

CentrePort, central New Zealand’s largest seaport, has a new joint venture container terminal in Whanganui.

Strong Recovery for CentrePort

A 17% increase in port revenue contributed to an underlying net profit after tax of $11.8 million for CentrePort for the year to 30 June 2014.

CentrePort Welcomes Ngauranga to Aotea Quay Project

CentrePort Chief Executive Blair O’Keeffe said the Port supports the next phase of the NZTA Ngauranga to Aotea Quay upgrade project.


CentrePort achieved an underlying net profit after tax of $11.7 million for the year to 30 June 2013. This compared to $9.3 million the previous year.

Port revenue was stable at $52.1 million, while property revenue of $5.1 million was down from $6.5 million last year.

After $6.5 million of fair value adjustments to financial instruments and investment properties, net profit after tax increased to $18.2 million.

Increased Trade Growth Supports Earthquake Recovery

CentrePort has posted an underlying trading Profit after Tax of $6.2m for the six months to December 2013.

CentrePort Resumes Operations after Quake Checks

CentrePort says it has resumed all port operations today, after engineers checked the company’s buildings and infrastructure yesterday, which had been affected by Sunday’s 6.5 magnitude earthquake.

Queen Mary 2 Arriving in Wellington - 13 March 2013

Wellington photographer John Nicholson captured these time-lapse photographs of the cruise ships Celebrity Solstice and Queen Mary 2 arriving in Wellington Harbour on Wednesday 13 March.

Queen Mary Confirms Big Ship Capability at CentrePort

Cunard’s 345 metre Queen Mary 2 cruise liner will be making her second visit to Wellington today.  The call reinforces CentrePort’s ability to handle very large vessels.


CentrePort Wellington, New Zealand’s third largest port is future proofing its business with the imminent arrival of Tapuhi – its state-of-the-art tug boat which will replace older and lower powered tugs.

CentrePort Achieves Mid-Year Profit

CentrePort, the country’s third largest port, has posted a Net Profit after Tax of $5.1m for the six months to December 2012, amid tough trading conditions.

CentrePort Opens the Gates

CentrePort Wellington, New Zealand’s third largest port, is ‘opening the gates’ to Wellingtonians on Saturday 23 February 2013 for the ‘CentrePort Open Day’.

CentrePort Urges Hasty Resolution to Basin Flyover

CentrePort has voiced its support for a hasty resolution to the Basin Flyover debate.

CentrePort welcomes Transmission Gully progress

CentrePort Chief Executive Blair O'Keeffe said the company was pleased with the Government's decision to approve financing arrangements for Transmission Gully.

Levin to Ports Link Vital for Region, Centreport says

The Road of National Significance (RoNS) linking Levin to air and sea ports will provide a much needed boost to the regional economy, CentrePort chief executive Blair O'Keeffe said today.

The Public has Voted Tapuhi

The Public Has voted - Tapuhi

CentrePort Granted Injunction in Labour Dispute

CentrePort has been granted an injunction from the Employment Court to stop a refusal to load and unload any vessel on the grounds of the Ports of Auckland situation.

CentrePort Seeks Injunction in Labour Dispute

CentrePort is seeking an injunction from the Employment Court to stop workers from refusing to load and unload a ship recently arrived from Auckland. The hearing is currently scheduled for Tuesday.

New Rail Service for Growing CentrePort Log Trade

CentrePort Wellington’s growing log trade will receive a boost from a new log rail service between the port and the Wairarapa.


CentrePort Partners with ACC

CentrePort and Accident Compensation Corporation (ACC) have entered into a long term commercial property joint venture under which ACC will acquire a 50% share in three of CentrePort's Harbour Quays buildings, those occupied by BNZ, Statistics NZ and the NZ Customs Service.

Box Record at Wellington Port

CentrePort Wellington achieved a significant milestone this week, for the first time handling 100,000 TEU’s (twenty foot equivalent) containers within a year.


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