Meanwhile Port Marlborough has reported a strong performance in its Annual Report for the 2024 financial year. With revenue surpassing $57 million and an EBITDA of $34 million, the port has strengthened its position as a key economic facilitator for Marlborough.
The year saw a significant investment of $26 million in infrastructure projects, up from $15 million in the previous year. These projects included further investment in the port’s forestry export offering at Shakespeare Bay, the purchase of a new custom-built tug and the completion of the Waikawa North West Marina – a purpose-built facility for Westshore Marine boatbuilders at the Waikawa Marine Precinct.
"Our commitment to investing in infrastructure is to ensure we futureproof the port to meet the evolving needs of port customers and our region’s industries," says CEO, Rhys Welbourn.
In addition, significant progress was made in forestry services, with the development of a new debarking facility at Shakespeare Bay, enhancing the port’s ability to meet the needs of the forestry industry while reducing environmental impacts. This investment aligns with Port Marlborough’s strategy to improve operational efficiency and environmental outcomes for the sector.
Environmental stewardship remained a priority for Port Marlborough throughout the year, with the Annual Report published in accordance with Global Reporting Initiative (GRI) sustainability standards. The port continued its carbon reduction journey, with a 12% reduction in net emissions compared to the previous year. The implementation of the Bravegen Carbon Data Management system has been a key step in improving the accuracy and efficiency of emissions reporting, further supporting sustainability goals. Additionally, the port’s subsidiary Marlborough Sounds Marinas achieved International Clean Marina accreditation across its three marinas at Picton, Havelock and Waikawa Marinas.
One of the port’s key achievements over the financial year was the completion and formal opening of the Waikawa North West Marina, which has expanded berth capacity in Waikawa by nearly a third, attracting boat owners from across the country.
"Approximately 60% of new berth-holders are from outside the region, which has positively impacted local ancillary and hospitality services," says Mr Welbourn
"Overall, we have delivered strong results against our four strategic pillars people, planet, prosperity and partnerships and we are extremely proud to provide a dividend of $4.5 million to our shareholder for the benefit of all of Marlborough.”
