CentrePort Limited (CPL) is a Port Company under the Port Companies Act 1988. Following the disestablishment of the Wellington Harbour Board as part of the local government reforms in 1989, the ownership of the port was vested with two councils – with CPL 76.9% owned by Wellington Regional Council (through WRC Holdings Limited) and 23.1% owned by Horizons (through MWRC Holdings Limited).
The port provides a range of services including imported goods and exports by container, bulk trade (logs, vehicles and cement), along with fuel imports. It also provides the northern hub for the Cook Strait ferry service. In 2022/23 it generated revenue of $99 million and a profit of $12 million. More information on CentrePort can be found at www.centreport.co.nz.
CPL is a commercial organisation and is run by an independent board of directors. The MWRC Holdings Limited shareholding has been valued at $63 million. CPL provides a commercial return to MWRC Holdings Limited by way of dividends.
Council is open to investigating options for the future divestment of these shares, including engaging with the majority shareholder. Should the opportunity to realise a sale eventuate, Council would undertake public consultation to inform decision making regarding the potential sale including the use of the proceed.
NB: This topic is not being consulted on as part of the 2024-34 Long-term Plan. Council believe it is important to keep our community updated, and will consult prior to making any decision regarding the sale of CentrePort shares.
