Half-Year 2020 Trade Volumes

Napier Port (NZX.NPH) today releases trade volume data for the half-year to 31 March 2020 showing growth in container traffic across its wharves from the earlier repositioning of empty containers ahead of the peak primary export season and containerised exports from Hawke's Bay being in-line with the prior year. Bulk cargos fell compared to the same half-year period a year ago with a decrease in log exports arising from Covid-19 pandemic disruptions and adverse Chinese market conditions. Container Services Total container volumes rose 7.5% to 135k TEU from 126k TEU in the same half-year period a year ago. Containerised exports were in-line with the prior half-year. Import containers rose by 6k TEU, or 9.3%, to 69k TEU due to the earlier import repositioning of empty containers into the region. Containerised export volumes in the period saw increased containerisation of pulp and timber products, a later start for the apple export season, and lower canned food and other food and beverage exports. Container vessel calls fell to 147 ships from 151 ships in the same period last year. Missed calls, due to Covid-19 related shipping service disruptions, accounted for the decline. Bulk Cargo Bulk Cargo total volume of 1.6 million tonnes was 7.3% below the same half-year period a year ago. Log export volumes were down 5.0% as the main export market of China was affected by Covid-19 disruptions and high inventory levels. The log export decline, relative to the prior year, arose late in the first half-year period. Charter vessel calls were 153 compared to 167 in the same half-year period a year ago. Bulk imports were lower than the same period a year ago due to lower fertiliser volumes, which was in line with expectations. Cruise Services Cruise vessel calls in the half-year period rose by 10 to 76. However, visits were less than the 87 vessels booked to visit in the 2020 season. The reduction was due to the cancellation of seven calls due to the Covid-19 pandemic, and four due to unfavourable weather. Chief Executive Todd Dawson said: "For most of the first half of the 2020 financial year, Napier Port has continued to benefit from the strong export trades from Hawke's Bay and the wider region. However, as we signalled at the end of March, several key trades including logs, wood pulp and timber, are being disrupted by the Covid-19 pandemic. "Due to the Covid-19 situation, we are expecting trade volumes in the second half of the current year to be lower, although the extent of the reduction remains uncertain. "As an essential service provider in Hawke's Bay, we are focused on ensuring we play our role in minimising the impact of the pandemic on the region and the wider economy by ensuring the flow of essential cargo across our wharves. We expect to provide a further update in late May when we release our half-year financial results." Further information is included within the attachment. ENDS For more information: Investors- Kristen Lie Chief Financial Officer DDI +64 6 833 4405 E: kristenl@napierport.co.nz Media- Richard Inder The Project DD: 021 645643 E: richard@theproject.co.nz About Napier Port Napier Port is New Zealand's fourth largest port by container volume. We are the main gateway for Hawke's Bay exports and operate a long-term regional infrastructure asset that supports the regional economy. Our strategic purpose is to collaborate with the people and organisations that have a stake in helping our region grow. View Napier Port's investor centre: www.napierport.co.nz/investor-centre/ End CA:00351735 For:NPH Type:MKTUPDTE Time:2020-04-16 08:39:19