CentrePort Wellington has closed its 2026 financial year with a marked improvement in both container activity and profitability, highlighting the growing importance of the capital’s port as an international freight gateway and regional distribution hub.
The port reported an underlying net profit after tax of NZD 20.9 (USD 11.913) million for FY26, an increase of 19% from the previous year, and NZD 2.3 (USD 1.311) million above the expectation contained in its Statement of Corporate Intent. The latest result continues a strong earnings trajectory, with underlying profit increasing at a compound annual rate of 27% since FY22.
The most striking feature of the year’s performance was container traffic. CentrePort handled 145,155 twenty-foot equivalent units (TEUs) during FY26, representing a 69% increase on the previous year. Full export containers rose 31%, while full imports increased 4%, indicating that the increase was not simply the result of empty-container movements.
The acceleration in volumes coincided with changes to CentrePort’s shipping network. New weekly services, including MSC Eagle, which began calling at the port in February 2026, and the COSCO/OOCL weekly ANE service, have expanded Wellington’s direct connections with international markets. CentrePort said the additional services were an important factor behind its emergence as a more significant container hub.
Chief executive, Anthony Delaney said, the combination of the new MSC services, the COSCO/OOCL operation and existing Asian connections demonstrated shipping-line confidence in the port’s operating capability. The additional connections also strengthen Wellington’s links with overseas markets and provide greater resilience within New Zealand (NZ)’s freight system.
The container result was accompanied by growth elsewhere in the business. CentrePort’s net revenue increased 16% year-on-year, while EBITDA rose 32%. EBITDA as a proportion of net revenue improved from 31% to 35%, suggesting that increased activity was accompanied by improved operating margins.
Investment has also been substantial. CentrePort invested NZD 39.7 (USD 22.629) million in infrastructure and assets during FY26, with the spending directed toward supporting existing operations and preparing for future cargo growth. Net assets increased to NZD 525.7 (USD 299.649) million during the year.
The port’s broader cargo base provides an important counterweight to the rapid container expansion. Log exports reached approximately 1.89 million JAS, 2% higher than the FY25 result and 8% above the target contained in the Statement of Corporate Intent. Bulk fuel volumes reached 985,827 tonnes, 5% above the previous year’s level despite continuing disruption in international fuel markets.
That diversity is significant because CentrePort’s role extends well beyond container handling. The port supports forestry exports, fuel imports, general cargo, cruise activity and other freight movements serving Wellington and the wider lower North Island. The latest results indicate a broader increase in activity, rather than a concentration of growth in a single cargo category.
CentrePort also reported an increase in its workforce during the year. The company said it employed an additional 51 people to meet the demands created by new business while continuing to recruit, as anticipated cargo growth requires additional capacity and capability.
Cruise activity presented a more mixed picture. CentrePort recorded 71 cruise-ship visits during the season, carrying about 108,000 passengers. While the number of visits was slightly lower than the previous season, the port said work with the New Zealand Cruise Association (NZCA), other ports and WellingtonNZ was already helping secure additional bookings for the 2027/28 and 2028/29 seasons.
For Wellington, however, the container figures are particularly significant. Regular international services can influence the cost, frequency and reliability of moving goods into and out of a region. Greater direct connectivity can also give exporters additional options for accessing overseas customers and provide importers with more established shipping routes.
The latest performance consequently places CentrePort at an important stage in its development. The immediate challenge will be to absorb the sharp increase in container traffic while maintaining service reliability, infrastructure efficiency and operational resilience.
Chair Lachie Johnstone said the FY26 performance reflected the company’s longer-term strategy and the resilience provided by a diversified business. Management has indicated that consolidating sustainable growth and ensuring the port can respond to changing customer requirements may remain priorities.
With container volumes now approaching 145,000 TEUs and international shipping connections expanding, CentrePort’s latest financial year has demonstrated how quickly Wellington’s freight profile can change when additional liner capacity and cargo demand come together. The next phase will be less about simply recording higher volumes and more about ensuring that infrastructure, workforce capability and logistics networks can keep pace with the port’s expanding role in NZ’s supply chain.
