Napier Port's earnings decline due to Winstone Pulp Mill closure and KiwiRail's transformation plan.

Napier Port in New Zealand is facing challenges following the closure of Winstone Pulp Mill (WPI), which contributed 7-8% to the port's earnings through annual exports of 15,000-19,000 containerized timber and pulp units. The port is now focused on supporting affected WPI employees. Concurrently, KiwiRail is implementing a multi-year transformation plan, potentially leading to job cuts in Napier and Palmerston North as it adapts to declining freight volumes.

September 24, 2024
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