2020 Annual Trade Volumes

Napier Port (NZX.NPH) today releases trade volume data for the fourth quarter and financial year ended 30 September 2020. Trade volumes were down 1.1% for containerised cargo and 8.3% for bulk cargo, compared to the prior year, with the COVID 19 lockdown in the third quarter responsible for much of the fall. Container Services Total annual container volumes reduced by 1.1% to 268k TEU from 271k TEU last year. Export containers reduced by 5k TEU, or 4.2%, to 128k TEU and import containers reduced by 2k TEU, or 1.4%, to 130k TEU. Dry export cargo reduced by 8.6% to 69k TEU from 75k TEU last year. This included cargo classified as 'non-essential' during the COVID-19 Alert Level 4 lockdown, such as wood pulp and timber, wool and paper products. Canned food and other food volumes were also lower. Reefer export cargo increased by 1.4% to 54k TEU from 53k TEU last year. Apples, meat and other chilled produce were categorised as 'essential cargo' and therefore continued to ship during the lockdown period. Apple and pear volumes reduced by 1.0% and experienced a later seasonal shipping profile compared to the prior year. Containerised imports reduced by 1.4% to 130k TEU from 132k TEU last year due to small reductions in imports of dry goods and empty containers. Other container movements, including DLRs and transhipped containers, increased by 5k TEU, or 71%, to 11k TEU. Container vessel calls were down to 293 ships from 303 ships in the prior year. Shipping service schedule disruptions arose due to COVID-19, congestion in Australian ports, and weather events. Bulk Cargo Bulk Cargo total volume of 3.1 million tonnes was 8.3% less than the prior year. Log export volumes reduced 8.3% due to market disruptions in China in the second quarter and the Alert Level 4 cessation of harvesting in the third quarter. Bulk imports were lower than the prior year due to lower demand for oil products during the lockdown period and anticipated reductions in fertiliser volumes. Charter vessel calls were 304 compared to 314 last year. Cruise Services As reported in our half-year report, our Cruise season was brought to an early end due to COVID-19 with 76 vessel calls. Chief Executive Todd Dawson said: "Napier Port's trade volumes in the 2020 financial year have been supported by resilient international demand for our region's primary product exports, despite the challenges of the COVID-19 pandemic. "We are pleased with the recovery we have seen to our key trades since the end of the lockdown period and the positive recovery we have seen in logs exports during the fourth quarter. Similarly, the local pipfruit sector has managed to export virtually the same quantity as last year's record season, despite the challenges seen due to COVID-19, which is a great outcome. "We will provide further information about our 2020 year when we release our financial results in November." 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 Chris Lonergan External Communications Advisor DD: 027 255 0486 E: chrisl@napierport.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:00361413 For:NPH Type:MKTUPDTE Time:2020-10-14 08:30:30