Business Reporter · 15/05/2026 · 15:38 NZT · 5 min read
"This restructure will remove the foremen who are the last line of defence against tragedy on our wharves."Gerard Loader, Maritime Union of New Zealand Lyttelton Branch President
The Government has rescinded October 2025 decisions that would have forced KiwiSaver and other managed funds to report private and unlisted holdings in granular categories on the Disclose Register from March 2027.
Beef + Lamb New Zealand’s stock survey for the year to 30 June 2026 puts the national beef herd at 3.96 million head, up 3.3 percent, while sheep numbers fell 2 percent to 22.78 million.
Forestry Minister Todd McClay has appointed former Bay of Plenty regional chair Doug Leeder as facilitator to advise Ministers on further support or intervention for forestry in Tairāwhiti, days after Gisborne District Council launched its own independent review of consenting and compliance.
Lyttelton Port Company will eliminate 14 container terminal roles after the Maritime Union of New Zealand decided against a Supreme Court appeal.
The restructure clears its final legal hurdle following the Court of Appeal's April 2026 ruling. The company can now proceed with changes that replace 35 disestablished foreman positions with 21 new team-leader roles on individual contracts.
Record Financials Despite Container Softness
Lyttelton Port reported record first-half results for FY26 despite softer container volumes. Revenue reached $108.5 million, up 7.6 percent. Net profit after tax rose 19.2 percent to $14.6 million. EBITDA increased 15.4 percent to $35.8 million.
Lyttelton Port H1 FY26 Financial Performance
Year-on-year change for the six months to December 2025.
Source: Lyttelton Port Company Half-Year Result Media Release, 4 February 2026
Container throughput fell 4 percent to 208,829 TEU in the six months to December 2025. Bulk cargo tonnage rose 13 percent to 1.93 million tonnes, driven by coal, dry bulk and logs.
Container throughput at Lyttelton fell 4% to 208,829 TEU in H1 FY26, even as the port posted record revenue of $108.5 million for the half-year.
Union Safety Warning
Gerard Loader, Maritime Union of New Zealand Lyttelton Branch President, warned the changes would remove experienced foremen from the wharves.
“This restructure will remove the foremen who are the last line of defence against tragedy on our wharves. We are concerned at the collapse of the relationship between the workforce and an aggressive management, which is undermining the future of the port.” — Gerard Loader, Maritime Union of New Zealand Lyttelton Branch President
Graeme Sumner, Lyttelton Port chief executive, highlighted resilience in bulk operations.
“This growth demonstrates the ongoing resilience of our bulk operations and the important role the port continues to play in supporting Canterbury’s and the South Island economy.” — Graeme Sumner, Chief Executive, Lyttelton Port Company
Dividend Implications for Christchurch Ratepayers
The port paid $12.1 million in dividends for FY25 to its sole shareholder, Christchurch City Holdings Limited. Those funds support Christchurch City Council budgets.
The Employment Court ruled in August 2025 that the company had not breached the Employment Relations Act. The Court of Appeal upheld that decision.
South Island Trade Anchor
Lyttelton Port remains the South Island’s largest container facility and handles $13.96 billion in annual two-way trade. Implementation of the changes is now expected to accelerate.
The outcome sets a precedent for other council-owned ports facing similar efficiency drives. Strong bulk performance and cost control have supported the port’s commercial position amid mixed trade signals.
