Port of Tauranga reports strong growth, profit surge despite challenges

Port of Tauranga reported a 7% increase in total cargo volumes, reaching 25.3 million tonnes, and a 5.3% rise in container numbers to 1.2 million TEUs for the year ended June 30, 2025. Underlying Group profit, excluding the Marsden Maritime Holdings transaction effects, surged by 23% to $126 million. Revenue grew 11.3% to $464.7 million, while operating costs increased 8.1% to $236.3 million. The board declared a final dividend of 9.7 cents per share, bringing the total dividend for FY2025 to 16.7 cents per share.

The company's Stella Passage development faced delays, with a fast-track application put on hold due to a drafting error. Although part of the project was approved by the Environment Court, the decision was appealed. Capacity at the container terminal berths is at its limit, impacting the ability to accommodate new ships and manage congestion. Decarbonisation plans, including electric automated stacking cranes and a hybrid tug, are also inhibited by these delays, though emulation testing is underway.

A significant achievement was the successful acquisition of Marsden Maritime Holdings (MMH) and the formation of Northport Group Limited. Port of Tauranga now owns 50% of the merged entity, with the Northland Regional Council holding 43% and Tupu Tonu 7%. Northport received resource consent for a major expansion, including reclamation and a wharf extension, opening growth opportunities for the region and the Upper North Island economy.