South Port NZ Ltd – 2022 Annual Report

Final Dividend
Accordingly, the Board elected to pay a consistent final dividend of 19.50
cents. This translates to a full-year dividend of 27.00 cents (2021 – 27.00
cents). Full imputation credits will be attached to all distributions. The
dividend payment represents a gross return of 4.4% (net 3.2%), based on a
share price of $8.48 as at 30 June 2022.
YYours sincerely
Nigel Gear
Chief Executive
South Port New Zealand Limited
cents per sharemillion
27.00
FY22 Dividend consistent at
$12.83
Annual NPAT to 30 June 2022
No change
2.9%
2.7%
19.8%
19.7%
˄
˄
˄
˄
27.00 cents
3,554,000 tonnes
$48.58 million
$12.83 million
48.9 cents
Dividends per share
Total Cargo
Operating Revenue
NPAT
Earnings per share

---

REFLECTING
ON TIMES PAST

Annual Report2022
looking
to the future

Contents
HIGHLIGHTS
Financial Calendar 05
Noteworthy Events 06
Strategy 08
Facts 09
01
SPOTLIGHT
Town Wharf Redevelopment 90
Bluff Channel Dredging
Project: Kia Whakaū 94
73 years of Dredging in Bluff:
The ‘Murihiku’ 96
The Evolution of
Bluff Harbour 98
Celebrating our Key
Stakeholders 100
MSC Service Overview 104
Port Infrastructure 106
05
THE YEAR IN REVIEW
Review of Operations 11
Comparative
Cargo Breakdown 13
02
ABOUT US
Management Profiles 138
Glossary of Port and
Shipping Terms 140
Directory 144
Southern Region
Production/Cargo
Locations 146
07
GOVERNANCE
Directors’ Profiles 66
Statutory Report of
Directors 68
Statutory Disclosure in
Relation to Shareholders 72
Corporate Governance
Statement 74
04
FINANCIALS
Auditor’s Report 110
Consolidated Statement of
Comprehensive Income/
Consolidated Statement of
Changes in Equity 113
Consolidated Statement of
Financial Position 114
Consolidated Statement
of Cash Flows 115
Notes to the Financial
Statements 116
Financial and Operational
Five Year Summary 135
06
CORPORATE SOCIAL
RESPONSIBILITY
Health, Safety & Wellbeing 24
Our People 32
Our Community 42
Environment 52
Infrastructure 58
Financial Highlights 62
03
02

The original Bluff Harbour
Board building, circa 1910.
03
01
Significant Events
|
2022 South Port Annual Report

The following provides readers with a snapshot of the most
significant events for the year ended 30 June 2022.
This includes larger capital projects, financial performance,
and company milestones.
Highlights
01
Financial Calendar 05
Noteworthy Events 06
Strategy 08
Facts 09
04

Financial
Calendar
2022
1 NOVEMBER 2022
Annual Meeting – 11:00am
Venue: South Port Board Room
Island Harbour, Bluff
8 NOVEMBER 2022
Final Dividend Payment
2023
9 FEBRUARY 2023
2023 Interim Profit
Announcement
MARCH 2023
2023 Interim Dividend Payment
2023 Interim Report Published
30 JUNE 2023
2023 Financial Year End
AUGUST 2023
2023 Annual Results
Announcement
A page out of The Southland Daily
Times on Saturday, December 3, 1960.
05
01
Highlights
|
2022 South Port Annual Report

2021/2022
Noteworthy Events
1. NPAT of $12.83 million (2021 -
$10.71 million), a 19.7% increase on
last year.
2. Total cargo of 3.55 million tonnes
(2021 - 3.45 million tonnes), a 2.8%
increase on last year, and a record
trade result for the Port.
3. Staff continued to perform
exceptionally well during
significant disruption caused by
the COVID-19 pandemic.
4. A new $10 million, 65-tonne
bollard pull ATD Tug vessel,
named ‘Rakiwai’ ordered from
Damen shipyards in Vietnam,
arrived at the Port on 17
September 2021.
5. A resource consent hearing was
held with Environment Southland
for the Kia Whakaū Channel
Improvement Project.
6. A 24% reduction in container
vessel calls at the Port due to
supply chain disruption.
7. Total container volumes were
down 18% on the previous
year, another direct result of
the worldwide disruption in the
container supply chain.
8. The average twenty-foot
equivalent unit (TEU) exchange
per MSC call increased by 8.4%
on the previous period.
9. Rio Tinto announced that they
see a positive pathway for New
Zealand's Aluminium Smelter
(NZAS) to continue operating
and contributing to the local and
national economies beyond 2024.
10. Total log and timber volumes
exported through the Port
were down 9.6% and 82.7%,
respectively, on the previous year.
11. Total stock food imports were up
62% on the previous period, a
record throughput for the Port.
12. The demolition of Shed 6 has been
completed, creating additional
space in the container terminal for
container storage and repairs.
13. A full-year dividend of 27.00 cents
maintained (2021 – 27.00 cents).
14. A second new empty container
handler forklift was received
during the year, leading to
improved productivity in the depot
operation.
15. The construction of an $11 million
accessway, pipeline corridor,
and discharge platform for the
Town Wharf fuel berth has been
completed during this period.
16. The installation of impressed
cathodic current protection
systems on the Island Harbour
access bridge is almost complete,
with 13 out of 14 bays now
finished.
1 7. Meridian and Contact Energy
announce Fortescue Future
Industries and Woodside Energy
have entered the final stages of
negotiations to become the lead
developer of the world’s largest
green hydrogen production facility
in Southland.
18. Significant upgrades to the cold
store engine room, switchboard,
and buildings were completed.
19. Construction of the hardstand
for the South Rail log storage
yard has begun after significant
consultation with the region’s log
exporters.
06

20. The Port’s Island Harbour
infrastructure maintenance
expenditure has reduced this
year under the 20-year Asset
Management Plan as forecasted
after peaking in the previous
financial year.
21. With the construction of a
12,000m
2
log storage area at the
west end of the Port, much of the
Island Harbour land has now been
developed for cargo operations.
22. A ceremony was held at Te Rau
Aroha Marae to gift the new South
Port logo and name developed by
the Awarua Rūnaka better reflect
the history of the area and its
people.
23. A concerted effort to build closer
ties to the Bluff Community Board
and the Awarua Rūnaka continued
during the past year.
24. Docking of tug Te Matua was
postponed to the next financial
year due to the delayed arrival of
parts into the country.
25. Just Transitions continue work in
the region investigating how the
local economy can transition from
the potential NZAS closure in
December 2024 to a new industry.
26. A mandatory vaccination policy
was implemented to meet the
challenge of the COVID-19
pandemic from the maritime
border.
2 7. Another full 12 months recorded
no container losses due to severe
weather conditions. This is a
result of a completed BowTie
health and safety exercise.
28. With the closure of the Marsden
Point Refinery, Coastal Oil
Logistics announced they would
cease calling at New Zealand
ports and that all fuel would be
imported into the country in the
future.
29. The Murihiku Aquaculture
Group is working with Ngāi
Tahu Fisheries and Sanford
to establish Open Ocean
Aquaculture in the southern
region.
30. A backhoe dredge is arriving in
August, to execute a deemed
consent from the 1980s. This is
to clear fragmented rock from a
previous drill and blast exercise,
carried out in the entrance
channel.
On 3 December 1960, the official opening
of the Island Harbour took place. In
attendance was HMNZS Lachlan at
berth 1, and New Zealand Star at berth 3.
07
01
Highlights
|
2022 South Port Annual Report

Company
Profile
STRATEGY
Strategic
Focus
Infrastructure, fit for purpose,
whole of life. Available,
flexible, and resilient, with
acceptable returns.
Evaluate and acquire
appropriate technology to
enhance, protect and expand
our core business.
In all activities the Company
will ensure a safe workplace is
provided, employee wellbeing
is enhanced, the physical
environment is respected and
cultural impacts are assessed.
This aspect of the strategy
requires the Company
to deliver continuous
improvement and active
engagement in these areas.
Protect existing trade and
develop growth opportunities.
Strengthen and extend
existing New Zealand port
relationships/alliances
and position the business
for potential future sector
rationalisation.
Develop and/or influence
optimal logistic solutions with
Port linkages.
Optimise shareholder value
and reinvest in our business.
South Port New Zealand
Limited (South Port) is the
southernmost commercial Port
in New Zealand, located in Bluff
and operating on a year-round,
24-hour basis. It is situated in
the rich productive province of
Southland, which is responsible
for generating a sizeable
proportion of New Zealand’s
total exports by value. The
region’s major cargo producing
sites are situated within 30 to 80
kms of the Port.
The Port of Bluff has been
operating since 1877, while the
Company was formed in 1988
having taken over the assets
and liabilities of the former
Southland Harbour Board.
South Port was listed on
the New Zealand Stock
Exchange (NZX) in 1994 and
has Environment Southland,
the region’s local government
environmental agency, as its
66% majority shareholder.
South Port established its off-
port Intermodal Freight Centre
(IFC) in July 2016. Strategically
located adjacent to the KiwiRail
railhead in Invercargill, the
IFC allows importers and
exporters in the Southland and
Otago regions to distribute
their products in a timely and
efficient manner.
08

Owns and manages assets
which have a book value of
$88 million
Facts
1. Directly employs 120 permanent
staff and utilises additional fixed
term and casual staff to support
our marine activities and seasonal
operations.
2. Undertakes its primary Port
operation on a 40-hectare man-
made Island Harbour situated in
Bluff.
4. Has split its land-based operating
resource into four main divisions:
6. Operates a separate dedicated
fuel berth at Bluff Town Wharf, plus
provides the Tiwai Wharf facility to
the New Zealand Aluminium Smelter
(NZAS) under a long-term licence.
7. Is the only Southland based
company listed on NZX –
market capitalisation as at
30 June 2022 equated to
$222 million.
8. Owns and operates an off-
port container packing/
unpacking facility adjacent
to the KiwiRail railhead at
Mersey Street, Invercargill.
The 8,000 m
2
site houses a
4,000 m
2
customs controlled
and MPI transitional facility.
9. Offers full container,
break bulk and bulk cargo
capability and services the
following main cargoes:
•IMPORT – alumina,
petroleum products,
fertiliser, acid, stock food
and cement.
•EXPORT – aluminium,
timber, logs, dairy, meat,
meat by-products, fish
and woodchips.
10. Handles in excess of
3.5 million tonnes of cargo
in a normal trading year.
3. Services vessels carrying
approximately 1.1 million tonnes
of cargo destined for movement
across the Tiwai Wharf each year,
of which three quarters are raw
material imports and one quarter
is finished aluminium product.
5. Has approximately 1 hectare of
on-port land available for further
port development or industry
establishment.
DAIRY
WAREHOUSING
CONTAINERS
COOL &
COLD STORAGE
GENERAL CARGO
INVERCARGILL
09
01
Highlights
|
2022 South Port Annual Report

The Year in
Review
02
Welcome to South Port’s Annual Report for the financial year
ended 30 June 2022.
Review of Operations 11
Comparative Cargo Breakdown 13

Overview and
Cargo
The Company recorded an after-tax
profit of $12.83 million (2021 - $10.71
million), a 19.7% increase on last year’s
result and ahead of the guidance
provided in our 2022 Interim Report.
This result includes two one-off
adjustments, which have impacted our
profitability. Firstly, we have recorded
an after-tax $0.98 million interest rate
derivative gain, realised due to recent
increases to the floating interest rate,
and also a $0.68 million adjustment
to our deferred tax calculation due to
historical legislative changes related to
depreciation on buildings.
To provide some comparative numbers
for shareholders, when removing all
one-off items, the normalised after-
tax profit for the 2022 financial year
is $11.16 million (2021 - $10.45 million),
representing a 6.8% increase on the
previous year’s result.
This result has been positively
influenced by a 2.9% increase in
cargoes being handled through the
Port at 3,554,000 tonnes (2021 –
3,454,000 tonnes).
This is a very pleasing result,
considering both the disruption in the
worldwide container supply chain and
the fluctuating log market conditions
encountered over the past 12 months.
Nigel Gear, Chief Executive
and Rex Chapman, Chair.
02

https://southport.co.nz/annual-report/videos/2022/review-of-operations
Review of
Operations
Bulk cargo volumes were up by 6.1%
at 3,123,000 tonnes (2021 – 2,942,000
tonnes), led by a 148,000-tonne
increase in stock food volumes
imported into the region.
Log and timber volumes collectively
were down 13.9% at 667,000
tonnes (2021 – 775,000 tonnes) and
container volumes were down 18.5%
at 44,000 TEU (2021 – 54,000 TEU).
Vessel activity at the Port was
similarly down on the previous period
recording 305 calls (2021 – 331 calls).
The major impact to this activity was
a 24% reduction in container vessel
calls to the Port.
11
The Year in Review
|
2022 South Port Annual Report

The pleasing aspect of an increase
in bulk cargo and a reduction in
the number of ship calls, was that
greater volumes were handled on
fewer vessels loading/discharged
at Bluff, which translates to better
environmental outcomes.
Log activity has similarly been
impacted by the COVID-19 lockdowns
in the China market, the foremost
destination for New Zealand Radiata
Pine. This, coupled with a downturn in
the construction market in this region,
has led to a decrease in demand for
logs shipped from New Zealand which
is expected to last until the end of the
2022 calendar year.
All other bulk cargoes were either in
line with expectations or slightly up on
the previous period.
The disruption in the container supply
chain appears to be no closer to
resolution than when this topic was
discussed in the last annual report.
COVID-19 continues to disrupt the
China market where lockdowns are
continuing in an effort to eradicate the
disease, creating major bottlenecks at
container ports in this region.
The significant increase in demand
for goods during the initial peak of the
COVID-19 pandemic led to a shortage
of container vessels, containers, and
labour resources in the supply chain to
handle these volumes. This resulted in
containers being stranded worldwide,
with no foreseeable resolution to this.
South Port continues to service the
container industry to the best of our
ability working with the Mediterranean
Shipping Company (MSC) to assist our
customers and increase the resources
on Port to handle the variable demand
requirements.
The benefits of the reefer tower
constructed last financial year have
been fully realised this past 12 months.
This asset has seldom been empty,
either providing power to fully loaded
refrigerated containers waiting to be
exported or alternatively for testing the
electrical systems on empty containers
before being delivered to customers for
loading.
The decision by the Company to
demolish Shed 6 and expand the
container terminal will similarly provide
excellent support for this operation.
Many times during this past year,
the Port has struggled with sufficient
capacity to store containers and to
provide clear areas to safely repair
containers in the depot operation. This
expansion will provide breathing space
for the coming 12 months and allow a
safer container repair location for our
maintenance contractors to operate in.
The Warehousing Operation continues
to play a significant role in supporting
the MSC Capricorn Service calling at
the Port. The Company provides 10,000
m
2
of dry storage area and a container
packing operation for the Open Country
Dairy Factory located at Awarua, 15km
from the Port.
The cold store also provides
refrigerated storage for meat and fish
processing companies in Bluff and
the surrounding region. This operation
underwent a significant upgrade during
the past 12 months to the engine room,
a new switchboard, and building. These
changes will provide much-needed
additional resilience to this operation
going forward.
Safety, Health
and Wellbeing
Safety First is our most important core
value and is still very much front of
mind in everything we do at the Port.
We work in a hazardous environment,
where there is frequently more than
1,000 vehicle movements through our
security gate each day in addition to
the heavy machinery operating on the
Port to handle both containers and bulk
cargoes.
Due to the amount of activity, traffic
management plans are an essential
part of the process to ensure that we
operate effectively and safely together
on the Port, especially where we have
overlapping duties of care.
The Port industry has come under
scrutiny in recent times due to two
tragic fatalities, most notably in the
stevedoring sector. South Port currently
does not operate a stevedoring
company; however, we do contract
local stevedores for the MSC container
service calling at the Port. As a result,
we are reviewing our operation to
determine whether any additional
changes need to be made to this
activity in light of these tragic events.
Due to operating in a COVID-19
environment recently, it has been
difficult to undertake BowTie analysis,
an essential Health and Safety risk
management tool. With a recent
relaxing of the COVID-19 requirements,
these sessions have recommenced,
focusing primarily on our critical risks
of mobile plant vs person, working at
heights, falling objects, working on or
near water, uncontrolled energy release,
and hazardous substances.
We have seen that these BowTie
workshops can provide robust solutions
to either remove, engineer, or mitigate
critical risks driven by the very staff
operating in the environment directly
impacted.
COVID-19
We have been fortunate at the Port
that we have not experienced any
largescale absenteeism from work due
to COVID-19. The systems that have
been put in place to date have worked
extremely well to protect our staff from
contracting and spreading the disease
at work.
To handle refrigerated meat for the
China market, additional procedures
have been established in the cold
store to maintain market access for
this critical export destination. All
cargo operators must take daily RAT/
temperature tests and wear masks
while operating at the cold stores.
Although requirements are easing in
most of our business activities, this
operation still has strict controls.
Marine
Operations
The Rakiwai, our new $10 million,
65-tonne bollard pull ATD Tug vessel,
has been in operation for several
months now. The tug is proving to be
an excellent addition to our marine
fleet, providing the extra capacity to
handle the larger vessels and loads
being carried through the Port.
It is pleasing to say that we now have
four fully qualified, unrestricted pilots
working at the Port, for the first time in
six years. We also have a fifth pilot in
training, who is also expected to reach
this standard in the coming 12 months.
12

Comparative
Cargo Breakdown
2022
10.9%
Fertiliser
12.8%
Stock Food
0.6%
Other
Imports
2.2%
Sulphuric
Acid
7. 0%
Petroleum
25.8%
NZAS
Imports
0.9%
Agriculture
32.1%
Forestry
0.3%
Other Exports
7. 4%
NZAS Exports
BREAK BULK/
BULK
EXPORTS41%IMPORTS59%
2.3%
Fertiliser
2.8% Stock Food
6.4%
Other Imports
2.4%
NZAS Imports
54.3%
Agriculture
4.8%
Forestry
8.4%
Other Exports
18.6%
NZAS
Exports
CONTAINERS
EXPORTS86%IMPORTS14%
2021
EXPORTS83%IMPORTS17%
5.1% Fertiliser
1.8% Stock Food
7. 8%
Other Imports
2.3%
NZAS Imports
48.3%
Agriculture
11.3%
Forestry
9.3%
Other Exports
14.1%
NZAS Exports
CONTAINERS
EXPORTS44%IMPORTS56%
10.4%
Fertiliser
8.4%
Stock Food
0.6%
Other Imports
1.7%
Sulphuric
Acid
8.6%
Petroleum
26.1%
NZAS Imports
0.5%
Agriculture
35.6%
Forestry
0.7%
Other Exports
7. 4%
NZAS Exports
BREAK BULK/
BULK
13
The Year in Review
|
2022 South Port Annual Report
02

2022
1962Town Wharf and Island Harbour in 1962, less than two years after opening
Bluff Harbour and South Port in May 2022
Comparing the Gross Registered
Tonnage (GRT) with times past
Out of sight –
Weaver Arrow,
berthed at
Tiwai Wharf
36,008 GRT

Milau Bulker 23,950 GRT
Berge Taranaki 22,683 GRT
MSC Express III 28,050 GRT
Port Denison 8,956 GRT
Turakina 7,707 GRT
Awarua Tug
Matai 1,050 GRT
Brisbane Star 11,076 GRT
Waimea 3,363 GRT
Wairangi 13,748 GRT
Calm 787 GRT
Maunganui 860 GRT
Murihiku Dredge
Van Neck 2,844 GRT
Donegal 6,327 GRT
14

Pilotage
Operations Safety
Management
System (POSMS)
The modernisation of our pilotage
systems through the development of
the POSMS has now been completed.
The system is now a living document
and is being used for all pilotage
operations, with the exception of the
training module, which is to be reviewed
by Maritime New Zealand once their
pilotage training assessment criteria has
been finalised.
Intermodal
Freight Centre
(IFC)
The IFC provides a vital container
handling alternative for our Southern
Region importers and exporters. It also
plays a significant role in meeting the
Company’s purpose to “facilitate the
best logistic solutions for the region”.
These past 12 months have seen the
container supply disruption impact
volumes processed through the IFC. This
disruption has been a factor in both the
high cost of importing containers from
Asia and the irregularity of container
vessels calling at the Port.
New Zealand
Aluminium
Smelter (NZAS)
On 8 February 2022, Rio Tinto
announced they could “see a positive
pathway for NZAS to continue operating
and contributing to the local and
national economies beyond 2024”.
This announcement was a clear signal
for both Southland businesses and
employees working at NZAS that
Rio Tinto intends to engage with the
electricity producers to negotiate an
energy contract and extend the life of
the smelter past December 2024.
South Port has enjoyed a close and
valued working relationship with
NZAS for 51 years, and represents
approximately 32% of our cargo volume
and 20% of our NPAT. The consensus
appears to be that there is room for
NZAS to continue operating longer
term and for a hydrogen plant to be
established in the region.
We believe that the government should
be looking to facilitate the growth
of the local economy and additional
energy resources, rather than looking to
substitute one industry for another.
Just Transitions
(JT)
Just Transitions (JT), a division of the
Ministry of Business, Innovation and
Employment (MBIE) is working closely
with the Southland Community on
how the province should transition
from NZAS to a new industry after
December 2024 (should the smelter
close).
A number of workstreams are currently
operating in the community focusing on
the three key themes of new industries
and employment, transitioning business
and skills, long-term planning, and
capability.
Two of the most notable work streams
are the current investigations into open
ocean aquaculture and clean energy
production.
Open Ocean
Aquaculture
(OOA)
The Murihiku Aquaculture Group,
chaired by Rick Christie, a previous
South Port director, is working with
industry participants Ngāi Tahu
Seafood Limited and Sanford Limited to
help develop the OOA opportunity for
the region.
A recirculating aquaculture system
(RAS) hatchery for growing Chinook
(King) salmon smolt, initially planned
for construction at Ocean Beach in
Bluff, has now been relocated to a
Makarewa site due to Geotechnical
issues with the previous location.
Ngāi Tahu Seafood application under
the COVID-19 Recovery (Fast-track
Consenting) Act 2020 has been
approved for lodgement. The scope
of the project is to construct and
operate an OOA salmon farm within
a 2,500-hectare area of the coastal
marine area, approximately 2 to 6 km
off the north-eastern coast of Stewart
Island/Rakiura.
Sanford has also lodged a consent
application with Environment
Southland to create an open ocean
salmon farm, 28km from Bluff and
10 km from the nearest Island, at the
south end of Foveaux Strait. This
consent is currently on hold while
extensive stakeholder engagement is
undertaken.
Green Hydrogen
The international demand for green
hydrogen continues to grow at a fast
pace, gaining even more traction
recently due to energy supply issues
in Europe created by the Russian
invasion of Ukraine.
Locally, Meridian Energy Ltd and
Contact Energy Ltd continue to work
on the potential development of large-
scale renewable hydrogen production
in the Lower South Island.
Through their request for proposal
(RFP) process, they have now reduced
the number of counterparties vying
for this opportunity from four down
to two, being Fortescue Future
Industries, a subsidiary of Fortescue
Metals Group Ltd, and Woodside
Energy Ltd.
It is expected that these parties have
submitted further detailed proposals
to the energy companies towards the
end of August, with the lead developer
to be selected in the following months.
The Company will continue to monitor
these developments closely and work
with these parties to ensure that the
Port is positioned to take advantage of
these opportunities should they arise.
15
02
The Year in Review
|
2022 South Port Annual Report

Environment
One of our strategic focuses states that
in all activities the Company will ensure
the physical environment is respected
and deliver continuous improvement in
this area.
This is very much considered
in our day-to-day activities and
decision-making, especially when
maintaining, developing, and modifying
infrastructure, or purchasing new
mobile plant. We always consider
the environmental impact of these
decisions.
The Company is also methodically
working towards developing an
environmental strategy and pathway to
becoming carbon neutral.
As South Port is listed on the NZX,
part of this pathway will also involve
developing a framework for climate-
related financial disclosures. This will
be aligned with the requirements under
the new Aotearoa New Zealand Climate
Standards being introduced later this
year. South Port will be developing
and implementing the framework for
the 2024 reporting cycle, in line with
the external reporting board (XRB)
guidelines.
The United Nations developed 17
sustainable development goals (SDG)
in 2015, many of which have been
adopted by companies and reported
on. Although South Port currently aligns
with many of these SDG’s, as part of
our pathway, we will look to adopt one
or two initially and ensure that we can
fully integrate these into our business
moving forward.
There is a lot of work in this area;
however, the Company and staff are
excited about the opportunities moving
forward to measure our progress
against identified targets.
Project Cargo then and now, exactly 50 years
between images (1961 and 2021) with cargo on
consignment, bound for Tiwai.
16

Entrance
Channel
The Company is currently working
through the consent process to
deepen our channel, swinging basin,
and berth pockets from 9.7m to 10.7m.
A two-day consent hearing was held
in April at Environment Southland.
While the hearing went well, the
process identified some areas where
further information was required to
ensure that all parties were satisfied
that the consent conditions met all the
necessary requirements.
This information was submitted in July,
and the Company is now waiting for
a decision to be given by the hearing
commissioners, which is expected by
the fourth quarter of 2022.
Channel
Dredging –
1980s Consent
In August this year, a backhoe dredge
arrived at the Port to carry out
dredging in the entrance channel to
the Port.
In the early 1980s, a drill and blast
campaign was carried out to deepen
the channel to 10.24m. Unfortunately,
due to the dredging equipment in use,
there was not enough capacity to lift
all of the fractured rock; therefore,
some of this material was left in the
channel.
The dredging operation to be carried
out in the coming months will
endeavour to finish the work started in
1980. Once completed, this operation
will also provide some excellent
information to assist with the planning
of the next drill and blast campaign,
which is the subject of the current
resource consent application.
17
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The Year in Review
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2022 South Port Annual Report

Infrastructure
South Port has a detailed wharf
Asset Management Plan (AMP) that
was developed in 2016 for a 20-year
period. As signalled previously, we
reached peak expenditure under this
plan during the 2021 financial year.
During the past 12 months, planned
expenditure has decreased by 35%
to $2.8 million (2021 - $4.3 million).
Although this plan was established
in 2016, it is constantly reviewed to
ensure that the programme is still
appropriate for the current state of the
infrastructure at the Port.
After a successful trial in 2019, a
project began in 2020 to install
impressed current cathodic protection
(ICCP) on the Island Harbour access
bridge, which was expected to take
four years to complete. To date, we
have installed ICCP for 13 out of 14
bays on the access bridge. Due to
close monitoring and the Company
driving further efficiencies into the
process it is pleasing to say that this
project will now be finished early into
FY2023, well in advance of our initial
expectations.
The construction of the Town Wharf
fuel berth accessway, pipeline corridor,
and discharge platform has now been
completed, providing resilience for the
fuel import sector and the berth for
a minimum of the next 50 years. The
fuel importers are currently installing
the necessary pipeline infrastructure
to allow the safe transfer of cargo to
the tank storage farms located on the
foreshore.
In the past 24 months, significant work
has been carried out in the container
terminal to service this industry,
including a new reefer tower, expansion
of the storage footprint, and the
construction of a new container wash
area. Over the last year, this work has
continued with the demolition of Shed
6, creating additional space for more
container storage and the provision
of a dedicated container repair area,
significantly improving the risk profile of
this operation.
Community
Engagement
Community Engagement is an
essential part of our daily business
activities at the Port. The Company is
building closer ties with both the Bluff
Community Board and the Awarua
Rūnaka, meeting with these entities as
required to consult and inform on the
current Port activities and development
plans. In addition to these meetings,
we now publish a biannual community
newsletter named Mai I Te Wāpu,
(From the Wharf ) that is delivered to all
residents in Bluff.
Awarua Runaka
There have been several areas where
we have consulted with the Awarua
Rūnaka in the past 12 months.
This included the infrastructure
developments, work being carried
out in and around the harbour, and
consenting processes.
During the year, we attended a gifting
ceremony for South Port’s new logo
and new motto Te Pūkorokoro o
Murihiku at the Te Rau Aroha Marae in
Bluff. This was an important occasion
in the Port’s history. Through this
rebranding, we recognise the heritage
of the area in which we are located, its
people and the importance of the Bluff
Harbour to past and future generations.
Staff
The Company would like to thank
our staff for their hard work and
tolerance they have shown over the
past 12 months in uncertain times.
Our people are the most important
part of our business. It is a pleasure
to work with motivated employees
engaged in improving the business and
implementing the company values in
everyday practice.
0
$1,000,000
$1,500,000
$2,000,000
$2,500,000
2017201820192020202120222023202420252026
ActualForecast
2016
$3,000,000
$3,500,000
$4,000,000
$4,500,000
202720282029
Wharves Asset Management Plan Expenditure
18

Dividend
The Board has an ongoing policy of
assessing South Port’s dividend flow
after considering its Free Cash Flows
(FCF) and its reported profits. For
the purposes of this policy, FCF is
interpreted as being annual operating
cash flow less net maintenance capital
expenditure in the same period. In
establishing the dividend payment
level, Directors considered the
Company’s annual profit movement
plus future maintenance requirements
that are expected to impact profitability.
Accordingly, the Board elected to pay a
consistent final dividend of 19.50 cents.
This translates to a full-year dividend
of 27.00 cents (2021 – 27.00 cents). Full
imputation credits will be attached to
all distributions. The dividend payment
represents a gross return of 4.4% (net
3.2%), based on a share price of $8.48
as at 30 June 2022. A dividend pay out
ratio of 55% results for 2022 (using
reported NPAT) and equates to 73% of
FCF.
Board
Composition
Mr Philip Cory-Wright and Mrs Clare
Kearney retire this year by rotation and,
being eligible, offer themselves for re-
election. At the AGM in 2020,
Mr Jeremy McClean offered his
services for a final 24-month term and
therefore, also retires this year. Jeremy
was appointed to the Board in 2011 and
has been an important contributor to
the Company's success over this time,
chairing the audit and risk committee
for several years. His knowledge,
especially in the farming and
agriculture sector, has been valuable
and will be missed by the Board.
Director
Nominations
At the time of writing this report, Mr
John Schol has been nominated by
Environment Southland. The Company
has received no other valid Director
nominations.
R T CHAPMAN
Chair
N G GEAR
Chief Executive
Outlook
A prolonged period of worldwide
disruption due to COVID-19 has
impacted all areas of the globe,
including Bluff. During this time, it has
been especially pleasing to see the
high levels of resilience that the port
community has shown in the face of
many operational challenges.
Bulk cargoes supporting NZAS and
the agricultural sector have maintained
consistency during this period and
have shown growth.
The log export market, however,
continues to fluctuate depending on
the current demand profile from China,
with the recent downturn expected to
continue through to at least the 4th
quarter of 2022. The container supply
chain also remains congested, and
there is no foreseeable correction to
this sector in the coming 12 months.
Despite all the uncertainty in these two
sectors, the Company is still excited
about the future.
A consent to drill and blast the
entrance channel to the Bluff Harbour
is awaited upon and, when issued, will
allow the Port to deepen from 9.7m to
10.7m. This slight modification of the
channel will allow the Port to handle
more cargo on fewer vessels, improving
the efficiency of the operation,
reducing the environmental footprint,
and providing a safer transit for ships
calling at South Port. The timing of this
activity will depend on the consent
being issued and the availability of
contractors to carry out the work.
Enquiries are being received for the
movement of wind farm equipment
through the Port in the coming 12
months. Two recent announcements
will provide confidence to the electricity
sector for increasing generation
capacity in the south. The first is that
NZAS and Meridian Energy have
entered into discussions about a
potential future energy contract post
the current December 2024 closure
date. The second factor is the review
and adoption of a new transmission
pricing methodology, due to take
effect from 1 April 2023. These two
developments could lead to a change
in the generation landscape in the
south.
The Company continues to invest in
our Port, upgrading and modernising
our infrastructure and mobile plant,
and is consistently looking at ways to
improve the efficiency and safety of
cargo moving through the Port.
There are also exciting opportunities
developing in the Southland region.
We are especially taking a keen
interest in emerging new industries
such as open ocean aquaculture and
green hydrogen, both of which the
Port could have a significant role to
play in the future.
At the date of compiling this report,
South Port estimates that earnings
in the next financial year will likely
be down by 12.9% on the FY2022
result. However, after removing the
one-off $0.98 million gain on the
interest rate derivative and the $0.68
million adjustment to our deferred tax
calculation, the company's underlying
profit will be consistent with FY2022
at approximately $11.2 million.
Based on this consistent earnings
profile and in the absence of
unforeseen circumstances, the
Directors will be endeavouring to
maintain the current level of dividend
payment.
19
02
The Year in Review
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2022 South Port Annual Report

CRANE PRODUCTIVITY
201932.5
201831.5
202033.5
3 9,1 0 02018
48,7002019
47,5002020
SHIP CALLS
3352020
3192018
3522019
NUMBER OF CONTAINERSCONTAINERS
(Packed/Unpacked – on port)
9,9002018
11,5002019
11,400
2020
BREAKDOWN OF CARGO
431,0002018
469,0002019
492,0002020
258,000
2020
281,0002019
295,0002018
33.8
(Gross container moves per hour)
44,000
(20 foot container equivalents)
305
10,700
431,000
(Tonnage)
BULK
2,771,000
2019
2,719,0002018
2,519,000
2020
2,867,000
(Tonnage)
256,000
(Tonnage)
BREAK BULK CONTAINERS
202131.2
53,7502021
3372021
11,0002021
512,000
2021
2,700,0002021
242,0002021
202233.8
44,0002022
3052022
10,7002022
431,0002022
2,867,0002022
256,000
2022
20

1
1 – 2009 drop in tonnage due to 30% decrease in NZAS throughput attributable to a pot-line outage
200020052010
0
2015
1994
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
500,000
(tonnes)
3,553,870
2022
From 1 July 2018 to 30 June 2022
Share Price
Historical Trade Figures 1994-2022
$5.40
$5.20
$5.60
$6.00
$5.80
$6.20
$6.40
$6.80
$6.60
$7.00
$7.20
$7.40
$7.60
$7.80
$8.00
$8.20
$8.60
$8.40
$8.80
$9.00
$9.20
$9.40
$9.60
APROCTJANJULJANAPROCTJULJANAPROCTJULJANAPROCTJULJANAPRJUL
2018
2019202020212022
OCTJUL
21
02
The Year in Review
|
2022 South Port Annual Report

0%
50%
100%
150%
200%
2013
250%
300%
201420152016201720182019202020212022
Domicile of Shareholdings
New Zealand Breakdown Holders % Issued Capital %

Northland 25 2.43 82,695 0.32
Auckland (incl. North Shore,
Waitakere & Rodney) 197 19.14 1,751,628 6.68
Greater Auckland Region
(incl. Manukau) 50 4.86 121,896 0.46
Waikato & Bay of Plenty 140 13.61 699,395 2.67
Taranaki, Whanganui,
Hawkes Bay & Gisborne 72 7.0 212,214 0.81
Wellington Region 51 4.96 146,871 0.56
Wellington City 45 4.37 367,444 1.4
Upper South Island 65 6.32 450,810 1.72
Christchurch 52 5.05 1,711,558 6.52
Lower South Island 298 28.96 18,250,887 69.57
995 96.7 23,795,398 90.71
(Breakdown above)
International Holders % Issued Capital %

Australia 18 1.75 225,944 0.86
Canada 1 0.10 43,978 0.17
Germany, Federal Rebublic Of 1 0.10 1,000 0.00
Hong Kong 1 0.10 4,000 0.02
New Zealand 995 96.70 23,795,398 90.70
Philippines 1 0.10 1,000 0.00
Singapore 1 0.10 4,125 0.02
South Africa 1 0.10 125 0
Switzerland 1 0.10 5,365 0.02
Taiwan 1 0.10 5,000 0.02
Thailand 1 0.10 1,000 0.00
United Kingdom 4 0.39 3,300 0.01
United States 3 0.29 2,144,663 8.17
1,029 100 26,234,898 100.00
10 Year Cumulative Total Shareholder Return
22

Health, Safety & Wellbeing 24
Our People 32
Our Community 42
Environment 52
Infrastructure 58
Financial Highlights 62
South Port continually looks for opportunities to improve on
its corporate social responsibilities.
Corporate
Social
Responsibility
03

By providing a safe and healthy
workplace, we uphold our moral
responsibility to protect all employees
and PCBU (person conducting a
business or undertaking work) on the
Island Harbour.
Safety on the job, wellbeing, and
personal safety of each and every
person at South Port is of primary
importance in all phases of our Port
operation.
By providing a safe and healthy
workplace, we uphold our moral
responsibility to protect all employees
and PCBU.
Health, Safety
& Wellbeing
Our responsibility to our people
encompasses:
•Safety is our #1 priority
•Committing to supporting and
guiding our people to success
•Making safety everyone’s
responsibility
•Promoting a positive work
environment where our people feel
valued
•Ensuring everyone has the authority
and responsibility to STOP unsafe
work
•Establishing our 5s (lean
management) programme as an
essential tool for maintaining a safe
place of work
•Understanding safety requires
continuous improvement
•Promoting an independent
workplace culture through respect,
empowerment, and trust
Safety on the job, along with the
wellbeing and personal safety of
each and every person is of primary
importance in all aspects of our Port
operation.
OPPOSITE PAGE
Completing their Heights
Recertification training is, from left,
Trainer, Nick Edwards, and South Port
team members Robert Goodman, Nigel
Stephens, Mana Puki, and Tyson Irwin.
24

25
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2022 South Port Annual Report
03

2022 saw the COVID-19 virus mutate
into the Omicron strain and enter the
community. By February, the virus
was in most New Zealand cities and
South Port commenced the COVID-19
response plan to ensure precautions
were in place for the health and
protection of our people.
One precaution was the
implementation of the internal
departmental Trigger Action Response
Plan (TARP). TARP was designed as
a first response approach to provide
information as promptly as possible
to South Port workers, including
individual departmental requirements,
in conjunction with the New Zealand
Government Alert Levels. The
information was broken down into
four categories, each with specific
information to add layers of protection
for our people, giving them confidence.
The TARP also had the ability to
work backwards, assisting us when
restrictions were eased, allowing us to
open and return to normal operations.
On top of the government guidelines,
other layers of protection we actioned
were:
•Departmental risk assessments
•COVID-19 vaccination policy
•Registered Essential Business
•Accepted into the Critical Services
Scheme
•COVID-19 vaccination and booster
doses offered on-site
•Rapid antigen surveillance testing
•Working teams established to
reduce any onsite transmission
Communications continued from
February through to May, informing
everyone of changes to government
requirements, contact descriptions,
case numbers and other relevant
information.
COVID-19
Recovery
* Drug and alcohol surveillance testing,
occupational health checks
Fast Facts:
273
Safety and engagement
interactions
2 ,1 3 5
Site inductions completed
260,336
Inward traffic movements
through gate
256 people
Completed training
328 people
Undertook health monitoring*
26

Health and
Safety Initiatives
ONLINE INDUCTION SYSTEM
A primary control for South Port’s
Health, Safety and Wellbeing
programme is to ensure all Port users
go through an induction process. This
ensures awareness of our critical risks
and general site rules. In FY2021/22
the induction process was overhauled,
and a digital induction system was
implemented and delivered online.
Collaborating with our digital partner,
the previous paper-based induction
was reformatted, videos added,
and knowledge-based questions
embedded throughout the process.
This ensured understanding of the
risks and controls. The information
gathered throughout the process was
then shared across our access control
and health and safety systems.
The timely implementation of the
online induction system in the
COVID-19 environment allowed
for contactless processing of new
inductees. The quick adoption of the
digital induction process highlighted
the benefits of moving to a digital
system.
27
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2022 South Port Annual Report
03

HEALTH AND SAFETY PANEL NIGHT
VISIT
Every year, South Port’s Health and
Safety panel schedule a night visit
to oversee Port operational safety.
This includes reviewing safe working
environments, potential lighting
improvements, and after-hours traffic
management. The panel consists of
all South Port Directors, two Senior
Leadership team members, CEO Nigel
Gear, and Port General Manager Geoff
Finnerty. Staff representation consists
of South Port’s specialist Health, Safety
and Wellbeing team members along
with Scott Faithfull and Tyson Irwin.
COMMITTEE VISIT
With COVID-19 restrictions in place,
our Health and Safety Committee did
not have an opportunity to visit another
industry to get an understanding of
their business processes and safety
systems. Instead, the Committee
went on a tour of the Town Wharf
redevelopment project, which was mid-
way through construction. South Port’s
Project Engineer led the tour, covering
all aspects of the project from start to
finish.
28

Wellbeing
GUMBOOT FRIDAY
South Port supported Gumboot Friday
by holding a BBQ on-site to help raise
funds for young people. The charity
helps connect young people with
counsellors and therapists.
Everyone who took part contributed
by donating an amount of their choice
by way of cash in a gumboot, raising
$345 for our young people to seek
help when they need it.
TEN PIN BOWLING
Our annual mid-winter wellbeing
activity for all employees and staff
was held in August 2021. The initiative
was developed to ensure our people
lose the winter blues by getting out
and enjoying a night of fun. Ten Pin
Bowling kindly opened their doors for
South Port to hold a private function.
INFLUENZA VACCINATION DRIVE
On 6 April 2022 South Port held its
annual Influenza Vaccination Drive,
available to anyone wanting to be
vaccinated, which had an uptake of
45 people. Staff that were affected by,
or recovering from, COVID-19 on this
date were captured through utilising
the Bluff Medical Centre or Awarua
Whānau Services free vaccination
programme.
29
Corporate Social Responsibility
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2022 South Port Annual Report
03

Rakiwai
Tug Training
One of the biggest challenges when
introducing the Rakiwai to service
was training, so South Port engaged
SeaWays, an internationally recognised
Azimuth Tug training organisation. Tug
training is normally simulator-based
and can be undertaken both in New
Zealand and Australia. It consists of two
modules, each lasting a full week.
Prior to Rakiwai’s arrival, three
separate attempts were made to
arrange simulator training, but each
time this was thwarted by COVID-19.
Upon COVID-19 restrictions easing,
an agreement was made to bring
a New Zealand-based instructor
to South Port to undertake real-life
Module One training in the first week
of January 2022. While the content
was identical to the simulator course,
performing the tasks with a real vessel
and environment presented unique
challenges, which meant the training
took longer than the prescribed week.
However, all involved agreed the
experiences and outcomes were more
superior than what would have been
experienced otherwise.
After the completion of Module One,
South Port engaged Napier Port,
which owns an identical sister ship.
Napier Port kindly provided their Senior
Tug Master during January 2022 to
undertake further training, specifically
focusing on the Azimuth Tractor Drive
setup of Rakiwai.
By the time the team completed their
training with Napier Port’s Senior
Tug Master, COVID-19 restrictions
had eased enough to permit the NZ
Maritime School to hold SeaWays
Module Two courses in the simulator.
This training was completed in the
second week of February 2022 and
built on what had already been
practiced in live situations, meaning
those in training could try some of the
challenging manoeuvres in the safety of
the the simulator.
Upon graduating from the SeaWays
course in February, South Port once
again engaged with Napier Port, who
aided with the first live shipping. The
Rakiwai is now in full service, with the
team still learning as they go.
30

Warren Topi, Tugmaster, learning the
ropes on the Rakiwai.
31
Corporate Social Responsibility
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03
Corporate Social Responsibility
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2022 South Port Annual Report
03

Our People
It has not been easy navigating the
pandemic over the past couple of years,
but our staff rose to the challenge and
showed how, with careful planning and
sound management, great people and
great teamwork will win the day.
Labour Market
Pressures
The effects of the tight labour market
are certainly being felt in Southland.
As of 30 June 2022, we had only two
unfilled vacancies, and while we are
not grappling with labour shortages to
the same extent as other ports, we are
bracing ourselves for the impact on
our recruitment and retention because
of increased competition amongst
employers.
We must look at various initiatives and
incentives to attract and retain talented
people and fend off poachers.
We are now navigating the new normal
and re-focusing on succession planning
and a range of initiatives designed to
build a skilled workforce for the future.
OPPOSITE PAGE

1.
Leadership Development team from
December 2021, with ProgressPeople
Director and Facilitator, Robin Rawson
(top right).
2.
CEO, Nigel Gear (left) and workshop
facilitator, Pip Hakopa (right).
3.
Marine Services, Karl Fraham (left), and
Cargo Depot Operator, Willie Isiah (right),
stand alongside dozens of brainstorming
post-it notes, which were an important
part of the workshop.
32

Workforce
Development
In the latter half of the financial
year, we resumed several workforce
capability building and professional
development projects that had been
temporarily parked last year.
CULTURAL COMPETENCY
As a precursor to the official hui/
gifting ceremony for our modified
logo and new motto, our Leadership
Team trialled a Cultural Competency
programme which provided an
introduction and basic understanding
of te reo me ona Tikanga (Māori
language and protocols) and Te
Ao Māori (Māori way of life). We
appreciated the efforts of our Kaiako,
Pip Hakopa, who expertly guided,
prompted, and challenged us in a safe,
fun, and explorative way.
We plan to roll out training to our staff
over the next year, starting with our
wider Leadership team.
EXECUTIVE LEADERSHIP HEALTH
& SAFETY FORUM
People are the most critical asset in
any business; ensuring their health
and safety at work is paramount. The
responsibility for health and safety
lies with everyone, regardless of title,
role, or seniority. Our Leadership
team recognises the vital role we
play in promoting a positive health
and safety culture in the workplace.
Every manager has undertaken (or will
undertake) executive health and safety
leadership professional development
through the Business Leaders Forum.
This ensures we keep abreast of
developments and have the mindset
and understanding to lead from the
front.
ST JOHN'S MENTAL HEALTH FIRST
AID
Good mental health and wellbeing are
critical aspects of a healthy life; mental
illness is common and can severely
impact people’s lives. In August
2021, South Port hosted a St John’s
Mental Health First Aid workshop
for South Port and SSA Southland
staff. Participants had the chance to
learn through in-depth discussions
and scenario-based activities and
gain tools to build their mental fitness,
recognise mental distress, and
develop the confidence to provide
initial help and guide a person towards
professional help.
LEADERSHIP DEVELOPMENT
Our in-house Leadership Programme,
facilitated by Robin Rawson,
continued with a new intake in
December 2021 and refresher training
for previous intakes. We also offered
leadership training and coaching
for our Extended Leadership team
comprising managers, supervisors,
and senior personnel holding
positions of responsibility.
1.
2.3.
33
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03

Values In Action
South Port’s values guide the way
we do business. They sum up what
our company stands for, influence
our culture, and drive how and why
we do things. They help us build a
positive, trusting, and high-performing
environment and make our business a
success.
When we originally introduced
our Values, we wanted to avoid
overreaching or getting caught up in
marketing speak.
Instead, we encouraged our people
to ‘own’ the Values. We tried to make
sure that everyone could understand,
connect with, and relate to our Values
and ensure our senior leaders were
upholding and modelling behaviours
that are consistent with them.
MANAAKITANGA
SAFETY FIRST
ONE TEAM
GO THE EXTRA MILE
WORK SMARTER
ACT WITH INTEGRITY
MANAAKITANGA
SAFETY FIRST
ONE TEAM
GO THE EXTRA MILE
WORK SMARTER
ACT WITH INTEGRITY
MANAAKITANGA
SAFETY FIRST
ONE TEAM
GO THE EXTRA MILE
WORK SMARTER
ACT WITH INTEGRITY
In late 2021, we launched ‘Values in
Action’, a staff recognition initiative
designed to identify, acknowledge,
and thank the staff that are performing
above and beyond and living our
Values day-to-day.
We kicked off ‘Values in Action’ with
Manaakitanga, which tied in with the
Christmas and holiday season. We had
a great response and received several
recommendations about staff that
had acted in a way that demonstrates
Manaakitanga, including:
•Staff that provided leadership
beyond their core duties
•Staff that contributed in a positive
way to major events and incidents
•Staff that made tough (and at times
unpopular) calls for the greater good
As the focus has moved on from one
Value to the next, we have continued to
acknowledge and showcase staff that
stand out and act as role models for
others to emulate.
What is particularly encouraging is the
fact that nominations are coming from
peer to peer as well as from manager or
supervisor to team members.
This has been a great way of ‘keeping
it real’ – proof that our Values are not
just empty words or catch-phrases, but
genuinely woven into the culture of our
organisation.
34

Diversity And
Inclusion
At South Port, we want to create
an environment that recognises
and values different skills, abilities,
genders, ethnicities, backgrounds, and
experiences.
However, we are early on in our
journey towards a more diverse and
inclusive workforce. Our focus to
date has been on gender, ethnic and
cultural diversity.
The port industry is historically
male-dominated, and the same
applies at South Port. As of 30 June
2022, women made up 18% of our
permanent workforce spread across
the various business units, with a
higher concentration in administrative
roles. The Container Terminal Division
now has three female operators, and
we are working hard to ensure that
their experiences are meaningful and
satisfying and pave the way for others
to follow. In the Warehousing Division,
our fixed termers (all female) have
been offered forklift training to better
position themselves for permanent
employment opportunities in the
future. In the Health and Safety team,
we now have a female Team Leader,
which was also an internal promotion.
We have an increasingly ethnically
diverse workforce, comprising
European 63% (NZ 2018 census
comparison 70.2%), Māori 28% (17.5%),
Pacific Peoples 8% (8.1%), Asian 6%
(15.1%), Middle Eastern, Latin American,
and African (MELAA) 6% (1.5%)
and Undisclosed 2%. Of note is our
MELAA group which includes seven
Colombians with refugee backgrounds
who started with us as fixed termers
via the Red Cross ‘Pathways to
Employment’. Over the past year,
several of our staff were granted
residency visas and we have been able
to share their excitement (and relief ) as
they finally get the chance to settle into
their new lives in Aotearoa.
1.
Alecia Coulter, Lee McDermott and
Michelle Lawson, our female forklift operators.
2.
Elgreene Leviste, Arlene Delgado,
Desre Breet, Nicolette Bottger, and
Yohan Baek, all who recently gained
permanent residency or citizenship.
2.
1.
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PETE CADE
GENERAL CARGO SUPERVISOR, RETIRING
AUGUST 2022
Retirement is a milestone in anyone’s
life, and even more so after more than
40 years at the Port.
Pete’s career with South Port started
back in July 1981, when he joined the
(then) Southland Harbour Board as
an electrician. Near a decade later, he
transferred to the Cold Stores, which
“was far too cold for [his] liking”. This
prompted a transfer and promotion
to Forest Products Foreman before
landing the General Cargo Operations
role, which he held right up until his
retirement. Over the years, Pete
has turned his hand to most jobs,
including labour allocator, lines
handler, and deckhand - he’s even
relieved at the syncrolift!
Pete has seen major changes in the
port industry and has played a big
part in shaping and influencing our
Cargo Operations. He’s witnessed
huge growth in cargo volumes,
revenues, staff numbers, and cites our
introduction into the container game
and the move to a 24-hour operation
as one of the biggest changes he
experienced in his time. Nowadays
health and safety are the absolute top
priority and you would have to say we
are better for it.
Pete has a reputation as an honest,
hard-working, straight-up type of guy –
a mentor, friend, and workmate to many.
“I always saw South Port as a
family, it’s a good place to work,
everyone’s happy to help get the
job done, we all look out for each
other and it’s not unusual for us
to have a whip around if someone
needs a helping hand”.
Upon retirement, Pete has made it clear
that he is available if we need to pick
his brains or call on him for short term
relief – another example of his loyalty
and dedication to South Port.
“South Port’s served me well over
the years, we had a lot of fun
times and had a great time going
away on sports trips. I guess
I’ve enjoyed my time here – I
wouldn’t have stuck it out this long
otherwise!”
Thanks for your hard work and
dedication all these years, and enjoy
your well-deserved retirement, Pete!
A throwback to the 90’s, featuring
Pete Cade, working hard with an
old-fashioned corded phone.
Pete Cade, contemplating his time
with South Port in August 2022.
36

J A Z Z WA LT E R S
Jazz was appointed to a permanent
position in the Cold Stores in early
2022, marking a major milestone in his
recovery after a long and debilitating
fight against cancer.
When Jazz was first diagnosed and
in the early stages of his treatment
in 2019, we encouraged him to focus
on his health and his family and
reassured him that he was part of our
South Port whānau and that we would
make a place for him when his health
allowed him to return to work.
Jazz had a stem cell transplant in
Christchurch during Level 4 lockdown
in 2020 and then spent the next
18 months in recovery and rehab.
He started back with South Port in
December 2021, initially on reduced
hours and light duties. Jazz is now
scanning on our night shift and is
playing an important role in providing
stability in a team heavily reliant on
casuals and labour hire.
“It’s great to get back to work
after 2½ years and do normal
things again”.
Great to have you back with us, Jazz!
Jazz at work in the Cold Store.
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FLEET MAINTENANCE – A
SUCCESSFUL MIX OF THE OLD
AND THE NEW
Our Fleet Maintenance team plays
a vital role in maintaining our fleet
of mobile land-based machinery
and equipment. The team is a great
example of how to retain the best of
the old while bringing through the
new.
The team, often simply referred to as
“the crane boys”, has evolved over the
past year:
•Tyson Irwin started with South
Port in 2009 and is a proactive and
respected operator who has been
identified by our Leadership team
as a future leader
•Rob Goodman has been employed
by South Port for almost 20 years;
like Tyson, he is a safe pair of
hands, someone we know we can
trust who consistently goes the
extra mile
•Mana Puki is one of our most
skilled and reliable crane operators
and has nearly five years’
experience working at South Port,
the past year based full-time in fleet
maintenance
•Max Beer joined the team as
Supervisor in March 2022,
bringing with him over 30 years
of mechanical and engineering
experience
•As part of our longer-term training,
upskilling, and succession planning,
operators from the Depot and
General Cargo also rotate week-
about
The team has been instrumental in
driving safety and efficiency gains
through:
•A more structured and
sophisticated approach to
maintenance planning
•Improved training and progression
opportunities for less experienced
operators
•Steady increase in cycle rates for
loading/discharge
•Reduction in damages to machinery
and containers
•Developing a larger pool of crane
operators available to cover staff on
leave
•Investing in new plant and
machinery to help with day-to-day
fleet maintenance
Great work from a high performing
team, a successful mix of the old and
the new!
The team in action! Top row: Mana
Puki, Rob Goodman, Tyson Irwin.
Bottom row: Max Beer, Zyon Otene,
Houston Te Tai, and Zaul Pirangi.
38

INFRASTRUCTURE AND
SUSTAINABILITY TEAM - “INTO
THE FUTURE”

Throughout this Annual Report,
you will read about a myriad of
infrastructure and sustainability
projects that will take us into the
future.
But what of the team that is charged
with responsibility for maintaining,
upgrading, and monitoring our aging
physical structures and services?
It is not an easy gig. Daily the
team co-ordinates and manages
projects ranging from complex and
legacy-building such as Kia Whakaū
(Channel Deepening Project), to
routine and invisible such as electrical
upgrades – and everything in-
between!
The team, led by Infrastructure
and Environmental Manager Frank
O’Boyle, has doubled in size over
the past three years to cope with the
increasing workload that comes with
the demands on our infrastructure.
At Frank’s right hand we have Project
Manager, Jason Paul. Jason has
coordinated several major projects
including the Town Wharf and fuel
berth upgrades.
Site Engineer, Andrew Hill, joined
the team in January 2019 after
completing his tertiary studies and
has quickly made his mark in his first
career position. He has confidently
led the demolition of Shed 6 and the
Container Terminal expansion and has
provided oversight on the multi-year
access bridge regeneration project.
Environmental Engineer, Eduardo
Queluz, joined them in January 2022,
after completing a Graduate Diploma
in Engineering Technology from
SIT. This rounds off over 20 years’
experience in Brazil as a Cartographic
Engineer and as a Forestry Manager.
The Infrastructure and Sustainability
team, from left to right: Eduardo
Queluz, Jason Paul, Andrew Hill, and
Frank O’Boyle.
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TUG ENGINEERING TEAM

People are the heart of South Port, and
the engine room is the heart of a tug.
So, it is only right that we showcase
the tug engineers, that keep our tugs
running smoothly!
Just as our new tug Rakiwai vastly
increased our towing capacity and
capability, our new-look engineering
team has increased our people capacity
and capability.
This did not happen by chance.
First off, we introduced another
permanent engineer to the team. This
prompted a complete revamp of the
roster to ensure that it was workable
and met the needs of all concerned.
We then worked on getting the right
mix of engineers with the skillset to
operate across our combination Voith/
ATD fleet.
Ed Allison, our Tug Engineer Team
Leader, relishes the opportunities
offered by South Port. Before relocating
to Southland, he operated and
maintained multi-million-dollar cruise
liners, including Cunard's Queen
Elizabeth.
Murray Conner joined our permanent
staff only recently, but he has been a
member of our relief engineering pool
for years and is an expert with Voith
propulsion systems, so he has well and
truly hit the ground running.
Jeff Mead is another recent recruit,
he brings extensive experience, most
recently as a dredge engineer at Port
Otago. Jeff is no stranger to South
Port, having previously worked for
Bluff Engineering and helping out as a
member of our Relief Engineer team. It
is fair to say that Jeff already has a good
idea of how our tug fleet operates and
will be quickly brought up to speed.
Supporting our permanents is a
dedicated and hardworking pool of
relief engineers, Murray Kelman, Wayne
Williams, and Paul Potter – thanks guys,
we could not do it without you!
Pictured from left to right are our three
Tug Engineers, Jeff Mead, Ed Allison,
and Murray Conner, aboard the Rakiwai.
40

Category 2025 2022 2021 2020 2019
% FEMALE % FEMALE % FEMALE % FEMALE % FEMALE
Board 25 50 33 33 17
Executive 25 25 25 25 25
Supervisors 20 13 14 17 14
Operational 10 4 3 2 3
All Permanent Staff 25 18 20 19 20
ACTUALTAR GE T
Key Information
FIXED TERM
AS AT 30 JUNE 2022
5
1
INTERNAL
TRANSFER
PROMOTIONS
19
PERMANENT
STAFF
AS AT 30 JUNE 2022
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14
%

10-19 Years
14
%
5-9 Years
5
%

20-29 Years
3
%

40+ Years
64%
0-4 Years
LENGTH OF
SERVICE
(YEARS)
LENGTH OF
SERVICE
(YEARS)
33%
Age 40-49
21%
Age < 30
16%
Age 30-39
30%
Age 50+
AGE
BRACKET
AGE
BRACKET
2%
Not Specified
6%
Melaa
63%
European
28%
Maori
6
%

Asian
ETHNICITY
8
%

Pacific
ETHNICITY
61%
Invercargill
39%
Bluff
EMPLOYEE
DOMICILE
EMPLOYEE
DOMICILE
NEW ROLES
4
GENDER
18%FEMALE
82%
MALE
Note: Total response ethnic groups have been
used (where everyone is included in every ethnic
group they identify with) so percentages will add
to more than 100%.
41

Our
Community
As a part of our long-term
commitment to support the local
community, along with the wider
region in which South Port operates,
we offer sponsorship to sporting,
cultural and community groups.
Organisations that received
sponsorship assistance over recent
financial years include:
•Badminton Southland
•Bluff Bowling Club
•Bluff Hill/Motupōhue Environment
Tru s t
•Bluff Kindergarten
•Bluff Netball Club
•Bluff Promotions
•Bluff Rugby Club
•Bluff Schools
•Bluff Volunteer Fire Brigade
•Burt Munro Challenge (Bluff Stage)
•Coastguard Bluff
•Export Southland
•Graeme Dingle Foundation
•Hospice Southland
•Matariki Festival – Tūturu Charitable
Tru s t
•Port Softball Club
•Rakiura Community Workshop –
Stewart Island
•Rugby Southland
•Southern Steel Netball
•Southern Wood Council
•Southland Cancer Society
•Southland Chamber of Commerce
•Southland Cricket Association
•Southland Football
•Southland Mountain Bike Club –
Bluff Bike Trails
•Southland Sharks
•St John Ambulance Service, Bluff
•Te Ara o Kiwa Sea Scouts, Bluff
•The Hawthorndale Care Village
•Tour of Southland (Bluff Stage)
South Port’s community engagement
includes:
•Community group interaction
•Port tours
•Sponsorship
•Written communication
•Not-for-profit and charity support
•Event support
•Working with young people
•Expert advice
•Staff volunteering in and around the
community
Community
and Regional
Assistance
An investment of over $80,000
into the local community was
made during the past
12 months.
42

South Port Scholarship Recipients 2022
We would like to congratulate this year’s successful scholarship recipients:
STAFF SCHOLARSHIP
Joshua Solomon
Josh was born and raised in the
Waikato and moved to Dunedin to
study medicine at the University
of Otago. Josh is the son of Justine
Solomon, who is CEO Nigel Gear’s
Executive Assistant. This is Josh’s
ninth year of study, and he is married
with two little tamariki Belle who
is six, and Charlie who is five. After
completing high school, he worked
on the night shift at the Warehouse to
save money for a two-year voluntary
service mission for the Church of
Jesus Christ of Latter-day Saints in
French Polynesia. He learned to speak
both French and Tahitian, which
enabled him to relate effectively in
difficult situations, teach and help train
others to be more effective in resolving
personal and social challenges with a
focus on strengthening and stabilising
families. Since returning from Tahiti,
Josh has been a volunteer leader in
a youth programme and has been a
positive role model for the youth he
has worked with. Josh has achieved
a Bachelor of Science majoring in
Physiology and is now in his last
year of a Bachelor of Medicine and
Bachelor of Surgery degree. Now
in the final year of his degree and
with his wife recently completing her
Bachelor of Nursing degree, he can
finally see the light at the end of the
tunnel.
STAFF SCHOLARSHIP
Hayley Van Beek
Hayley has excelled academically
as well as in the sporting domain at
James Hargest College and will be
commencing her academic journey
with the College of Education
to study teaching. Hayley is the
daughter of Rochelle Van Beek,
South Port’s Health and Safety
Advisor. A competent and determined
sportswoman who has represented
Southland in netball and basketball,
she has successfully managed
to juggle her passion for sport in
conjunction with her study. Hayley
has enjoyed working with younger
players and sharing her knowledge
to help them develop their skills. This
helped spark her passion for teaching
as she is passionate about making a
difference in the world and using her
skills to help shape our future leaders.
Hayley has met some amazing
role models who have given her an
extraordinary set of skills to aspire to.
During the holidays, she is currently
working at Alliance Freezing Company
to save money for her studies this year.
Hayley was described by her teacher
as being a great role model who is
resilient, committed, selfless, mature,
honest, and friendly. These attributes
will serve her well in the future. Hayley
is also very determined to take her
sports career further and we wish her
well in all aspects of her life.
COMMUNITY SCHOLARSHIP
Avthokea (Kea) Fowler
Local Bluff resident Kea Fowler has
commenced full-time study in the
Medical Imaging and Applied Science
pathway course at the Ara Institute
of Canterbury, which will continue
onto a Bachelor of Medical Imaging.
At the age of 14 Kea had an injury
that needed an x-ray and ultrasound.
Kea was fascinated by the details
in the imaging, which sparked her
interest in becoming a radiographer.
Kea has been actively pursuing her
goal of becoming a radiographer,
and in July 2021 she spent a day
at Southland Hospital’s medical
imaging department shadowing
staff. Kea thoroughly enjoyed the
opportunity to attend multiple x-rays
and gain a deeper insight into the
medical imaging profession. Kea has
worked very hard to achieve excellent
academic results at Verdon College
and has also been actively involved
in several clubs/ organisations, such
as first XI hockey, Kapa Haka, choir,
and Te Ara o Kiwa Sea Scouts. She
has also been a peer support person
for year seven students, where she
helped support and encourage new
students as they started their journey
at Verdon College. Being able to
help patients is an important aspect
of being a radiographer, and this is
something Kea is looking forward to.
Kea has a great attitude and has been
working hard towards her goals. We
wish Kea well on her journey towards
gaining her Bachelor of Medical
Imaging.
FROM LEFT TO RIGHT South Port Chair, Rex Chapman, Hayley Van Beek, Joshua Solomon and Director,
Michelle Henderson.
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Manaakitanga
CHRISTMAS HAMPERS
South Port enjoys sharing the love
at Christmas time, and as such,
the team kindly donated presents
and hampers for local families of
Te Rourou Early Learning Centre,
Bluff School, St Teresa’s School, and
Bluff Kindergarten. The hampers
consisted of food, gifts, and money,
which were donated by South Port
team members and Directors.
4.
St Teresa’s School principal
Dianne Gilroy (centre) accepted
a hamper of gifts and food from
South Port’s General Manager,
Geoff Finnerty, and Human
Resources Manager, Helen
Young.
3.
South Port Infrastructure and
Environmental Manager, Frank
O’Boyle (left) and Warehousing
Manager, Murray Wood (right)
present Christmas hampers and
gifts to staff Emily Wilson (left),
Sarahlee Bragg (right) from Bluff
Kindergarten.
2.
Business Development
Manager, Jamie May and
Communications Advisor,
Kirsten Hoyle, presenting Bluff
School Principal, Geoff Folster
(centre) with presents and
hampers to be shared with
school community families.
1.
South Port CEO, Nigel Gear
(left) and Finance Manager,
Lara Stevens (right) delivering
Christmas gifts and a food
hamper to Te Rourou Early
Learning Centre, Manager Andria
Cross (centre), to be distributed to
families in the community.
1.2.
3.4.
44

Community
Engagement
and Sponsorship
BLUFF INFORMATION KIOSK
Bluff ’s new Information Kiosk, located
on Gore Street, was completed late
June 2022. To reuse materials and
maintain the history of the area,
South Port gifted 1800-era Australian
hardwood from the Town Wharf,
which was removed during the recent
wharf redevelopment, along with
several steel bollards. This was used
throughout the design.
MATARIKI FESTIVAL – TŪTURU
CHARITABLE TRUST
South Port was proud to support the
award-winning Murihiku Matariki
Festival in Queens Park, which was
back for its fourth year. The event
supported over 100 local artists who
had work on display, with thousands
of members of the public attending
over several days.
RAKIURA COMMUNITY
WORKSHOP – STEWART ISLAND
In May 2022, Jane Severn, a
Psychotherapist, Menstrual Educator,
and Pascha Therapist from Luna
House in Christchurch, visited Stewart
Island to hold a two-day workshop on
women’s health. South Port provided
financial assistance to make this
workshop readily available to the
community. 18 women of varying
age groups attended. The workshop
was held at The Snuggery and was
organised by Cherie Hemsley (left).
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SHANNON STREET FENCE PAINTING
In line with South Port’s Community
Engagement Policy, we provide staff
the opportunity to spend time assisting
with community-driven projects.
Pictured here is the Container Terminal
team tidying up the fence line on the
Shannon Street approach to the Island
Harbour access bridge, in August 2021.
STIRLING POINT WALKWAY
PAINTING
Stirling Point Pilot Station, the "most
southern pilot station in the world," was
originally built back in 1877, however,
the building you see today was built
in 1912. The Station was originally
manned by two people until the early
1930s when it increased to four people.
Houses for the Harbourmaster and
Pilots were also situated on the reserve.
Tupu Lavea (left) and Ken Shoemark
(right) from the Marine team put in
some serious mahi in March 2022 by
giving the walkway a makeover with a
fresh coat of paint.
MORRISON’S BEACH TIDY UP
In July 2021, the Container Terminal
team installed some rope in place
of where chains had come down at
Morrison's Beach.
46

BLUFF SCHOOL
Bluff School approached South Port
about the children needing new sun hats
to protect against the hot summer days.
In May 2022 we purchased 150 wide-
brimmed hats and had them embroidered
with the Bluff School logo, which was
delivered with the assistance of South Port
Accountant, Sarah Smith (left), Finance
Assistant, Donna Goodman (second from
the right), and Management Accountant,
Nicolette Bottger (far right). Donna is also
a former pupil of the school. Representing
the school is Board Member, Vanessa
Underwood (second from left), and Bluff
School Principal, Whaea Dee (middle).
TE RAU AROHA MARAE COVID-19
SUPPORT
Te Rau Aroha Marae has been preparing
kai boxes to give whānau around Bluff a
boost while in isolation. In April 2022, two
out of three of the marae team were put
into isolation, with hui still booked, people
to feed, and kai boxes to prepare. The
Dairy Warehousing crew from South Port
were able to send Sha’trece Woods (left),
Chantinee Kelland-Gallie (right), and Ellie
Roberts along to help with this important
mahi supporting the community.
MAI I TE WĀPU FROM THE WHARF -
COMMUNITY NEWSLETTER
As part of South Port’s community
engagement policy, we want to share news
and topics that might be of interest to the
community. Therefore, we introduced a six-
monthly newsletter called Mai i te Wāpu.
Our second edition was distributed in
May 2022. Feedback from the community
has been positive. The newsletter is hand-
delivered by members of the South Port
team, pictured here is Communications
Advisor, Charlotte Scoles, and Business
Development Support, Sam Withey.
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YOUNG ENTERPRISE – SPEED
COACHING AND JUDGING
Young Enterprise Scheme (YES), where
business professionals and entrepreneurs
provide support and advice to students
that are starting their new business
ventures. Communications Advisor,
Charlotte Scoles (far left), was invited to a
Speed Coaching session on Zoom, where
several different groups of students were
given the opportunity to discuss their
idea or concept. This also provided the
opportunity to be involved with the final
judging of the pitches. It was a busy day
providing feedback, but it was refreshing
to see some unique concepts brought to
fruition by some creative teams.
GRAHAM DINGLE FOUNDATION
Throughout the financial year, South
Port contributed to the Graham Dingle
Foundation, giving them the ability to
continue working with students in their
Career Navigator programme. Over 70
Career Navigator sessions were held
across two schools, which involved a
tour of South Port as well as a rubbish
collection community project.
FRONT-LINE YOUTH SUPPORT
Front-Line Youth Support set young
people on a pathway to success by
smoothing the transition from school to
study or work. In June 2022, South Port
hosted a group of 16 to 17-year-olds that
were learning about health and safety
while exploring potential employment
opportunities.
OPPOSITE PAGE
Graham Dingle Foundation students
that participated in collecting rubbish
out in the community were gifted a
South Port beanie.
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Supporting
Community
Activations
WESTPAC RESCUE CHOPPER RIDE
Scott Faithfull (Bulk Cargo
Coordinator) participated in the
Westpac Chopper Appeal bike ride
from Queenstown to Invercargill. He
raised in excess of $2,000 toward
the collective 2022 target of $40,000
which is a brilliant effort!
BLUFF RUGBY CLUB
Bluff Rugby Club has had a
longstanding relationship with South
Port, which kicked off back in 1989
when the premier team was aptly
named “South Port Bluff.” In 1996,
this sponsorship was transferred to
naming rights on the jerseys, which
continues annually to this day.
SOUTH PORT FOOTBALL
South Port had two teams
participating in the 2021-22
Invercargill Summer Football
Competition which is a social
competition playing a series of
seven-aside matches from November
2021 through to March 2022. Team
Red & Team Gold were made up of
staff from a number of areas of the
business, and also included the odd
son of some staff players as well. Both
teams were very competitive, and
everyone enjoyed the comradery, with
the level of football skills displayed
being of a high standard. At seasons
end, there was almost no difference
between the results, with both teams
recording five wins, one draw, and four
losses.
50

Regional
Sponsorship
SOUTHLAND SHARKS
South Port is a proud, longstanding
supporter of the Southland Sharks
basketball team. Our staff enjoy the
tickets we receive for every home
game, along with utilising the games
to host customers courtside. Pictured
with some of the South Port staff and
customers is player Tom Cowie.
SOUTHERN STEEL
In a new partnership, South Port
teamed up with Southern Steel
and provided sponsorship for the
2022 season. Player Kate Heffernan,
pictured, has the South Port logo
featuring on the back of her uniform.
SOUTHLAND STAGS
After several years of sponsorship, the
relationship between the Southland
Stags and South Port is still very strong.
South Port utilise one key home game
each season, hosting upwards of 60
customers and team members at the
event. South Port’s logo is also featured
on the team jerseys.
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Environment
Refrigeration
energy audit
In late 2020, South Port conducted a
refrigeration energy audit to identify
energy management opportunities to
reduce operating costs and associated
carbon emissions.
The final report identified a series of
opportunities representing energy savings
in the order of 1.27 GWh per year. The
reduction of carbon emissions added up
to 132 tCO2e per year.
The opportunities became a project with
a series of actions focused on realising
the potential for energy savings and
emissions reduction. The works carried
out in FY22 represent a potential of
115 tCO2e per year. in reducing emissions,
with energy savings of approximately
1.1 GWh per year.
South Port adopted the following
energy-saving improvements for the 2022
Financial Year:
•The condenser control system has
been reprogrammed to operate at
a pressure of 700 kPag, instead of a
pressure of 900 kPag, allowing them
to run at a reduced speed when the
pressure drops below 900 kPag
•Warning lights and audible alarms
were installed in Environmental
Loadout Area (ELA) to prevent the
Cold Store doors from being left open
for extended periods of time
•Installation of Variable Speed Drives
(VSDs) on fans in Cold Stores and
in the blast freezer, reducing energy
consumption and heat load
•Double air hanging strip curtains
between Cold Store and ELA,
significantly increasing the barrier
against the infiltration of the warmer
and humid air from one into the other
•Automatic light switch on the door
in Cold Store 3, ensuring the lights
are only on when the door is open,
reducing the energy consumption
52

New compressors that were installed
as a part of the Cold Store upgrade.
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INITIATION
Gathering
information
SUSTAINABILITY
COMMITTEE
Engagement
Member Selection
SUSTAINABILITY
FRAMEWORK
Filling the gaps
Identifying opportunities
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jan
Feb
Mar
Apr
May
SUSTAINABILITY
STRATEGY
Targets
KPIs
Integration
MONITORING AND
REPORTING
Aligned with SDGs
2022202320252024
Sustainability
Strategy
In 2022 South Port started the
development of its Sustainability
Strategy. In its first steps, the
Company adopted the United Nations'
Sustainable Development Goals
(SDGs) as the backbone of its strategy.
The 17 SDGs are the core of the 2030
Agenda for Sustainable Development
that "provides a shared blueprint for
peace and prosperity for people and
the planet, now and into the future,”
according to the UN.
The SDGs are not just a tool for the
governments of the member countries
of the United Nations, they are also
a call for all companies to be part of
this movement, adding their creativity
in searching for sustainable global
development solutions.
South Port will set up its Sustainability
Committee to develop and implement
the sustainability strategy, covering
all company areas. This Committee
will primarily focus on the Company's
priorities related to SDGs and
sustainability, filling gaps, and
identifying opportunities. Then, it
will define the targets and goals
to integrate sustainability into the
Company's core business.
SUSTAINABILITY STRATEGY TIMEFRAME
Marine life in
Bluff Harbour
In December 2021, South Port
applied to Environment Southland
for Resource Consent for the harbour
channel dredging work. South Port
carried out several studies to compose
the necessary documentation for
the consent, involving a team of
researchers and specialists that drew a
detailed diagnosis of the environmental
conditions of Bluff Harbour and Tiwai
Peninsula areas.
The research revealed an environment
rich in marine life, with diverse species
in the aquatic environment and on
land. According to the report prepared
by the team of consultants hired to
conduct the research, e3 Scientific, the
rocky reef within Bluff Harbour, Tiwai
Point, and the Motupōhue Mātaitai,
contributes to the complexity of the
habitat, providing a habitat ideal for
fish. This condition creates productive
seabird feeding grounds, evident from
the diversity and quantity of birds
identified in the research.
The researchers recorded 155
different species in the Bluff Harbour
surroundings, including the presence
of the Little Blue Penguin, which makes
Motupōhue a breeding ground, and
Bluff Harbour part of the feeding area.
Along with the Little Blue Penguin,
many marine species use the Bluff
Harbour and Tiwai Peninsula areas
for breeding and feeding during the
summer and early autumn before
migrating offshore. The survey recorded
the presence of some species of
sharks, blue cod, flounder, kingfish,
and German seabirds. Octopus and
seahorses are also residents of this
region.
54

Acoustic
monitoring
of marine
mammals
South Port conducted an acoustic
monitoring programme, which took
place from January 2021 until January
2022. This included installing three
probes along the entrance to Bluff
Harbour to record which species use
the area as a residence or visitation
site. Species identification occurs by
recording the animal's vocalisation, of
which each obeys a specific pattern.
The survey revealed that a variety
of whales and dolphins visited Bluff
Harbour during the survey period,
including the record of the presence
of Hector's dolphin and southern right
whales.
Based on this robust scientific data, it
is evident that the abundant marine
life in and around the Bluff Harbour
are both thriving and living in harmony
alongside Port activities.
Diesel Boiler
Replacement
In February 2022, Great South
launched the Government Waihōpai/
Invercargill Decarbonisation
Contestable Fund to accelerate
the decarbonisation of water and
building heating systems. South
Port participated in the selection
process with the project to replace
the Administration Building’s diesel-
based heating system with an electric
heating system. The South Port
application was successful and we
have entered into a partnership with
Great South for the project execution,
promoting a reduction of 1,400 tCO2e
during the lifetime of the new system.
N
S
EW
North
Southwest
Southeast
Location points of the three acoustic
monitoring probes, which were in place
from January 2021 to January 2022.
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South Port records and reports its
GHG emissions profile for the fourth
consecutive year, considering
Scopes 1, 2 and 3.
Following the policy of continually
improving its emissions inventory, the
company, in addition to keeping the
conversion factors updated, expanded
the items in Scope 3, including
non-municipal solid waste and
Transmissions and Losses (T&L).
GHG EMISSIONS BY SOURCE (TCO2E)
Waste
Air Travel International
Air Travel Short Haul
Air Travel Domestic
Electricity
Gas
Petrol
Marine Diesel
Automotive Diesel
50
Regional Accommodation
Taxi
100
150
200
250
300
350
400
450
500
550
600
650
700
800
850
900
950
1,000
1,050
1,100
1,150
1,200
1,250
750
0
1,300
1,350
FY2021
FY2020
FY2019
FY2022
Transmission & Losses
Greenhouse Gas (GHG) Emissions Profile
Direct GHG emissions occurring from
sources that are owned or controlled
by the Company (eg, fuel).
Indirect GHG emissions occurring
from the generation of purchased
electricity consumed by the Company.
Other indirect GHG emissions
occurring as a consequence of
the activities of the Company, but
generated from sources not owned
or controlled by the Company (eg,
air travel).
* Data is partly based on estimates, assumptions, and projections.
TOTAL GROSS EMISSIONS COMPARISON
2021
2,843.00
2020
3,066.11
2019
3,340.00
2022
2,773.16
GHG EMISSIONS - FOUR YEAR COMPARISON (TCO2E)
SCOPE 169%
SCOPE 224%
SCOPE 37%
674.31
Marine Diesel
98.77Gas
7. 6 3
Petrol
613.02
Electricity
0.81Hotel Visits
0.36Taxi (regular)*
88.20
Waste landfilled
NO LFGR MIXED WASTE*
18.68
Air Travel Domestic
(EXCL. RADIATIVE FORCING)
1,337.43
Automotive Diesel
2022
56

Carbon Intensity
Carbon Intensity is a performance
indicator that relates GHG emissions
(tons of CO2 equivalent) to cargo
movement (tonnes). The chart below
shows the evolution of this indicator
between 2019 and 2022.
765,849
743,018
755,365
647,778

0
(Litres)
20192020
2021

100,000
200,000
300,000
400,000
500,000
600,000
2022
700,000
800,000
South Port Fuel
Consumption
The graph below details the diesel
consumed by South Port, including
our customers and contractors. The
main factors that led to the 14%
reduction in fuel consumption are
the reduction in the movement of
TEU containers (-22%), the addition
of two empty container handlers to
South Port’s fleet (50% less fuel usage
than full container handlers), and the
decrease in the use of generators
(-65%).
4,871,277
5,642,297
6,274,481
6,275,594

0
(Total kWh)
20192020
2021

1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
2022
South Port
Power
Consumption
The following graph details South
Port's net energy consumption. For
the purposes of this report, volumes
used by our suppliers and contractors
are excluded.
3,500,994
3,268,737
3,454,458
3,553,870

20192020
2021

2022
CARGO

(Tonnes)

3,000,000
3,100,000
3,200,000
3,300,000
3,400,000
3,500,000
3,600,000
CARBON INTENSITY BREAKDOWN FY 2019 - FY 2022

(CO2e
/Million
Tonnes)
949
2019
938
2020
823
2021

700
750
800
850
900
950
780
2022
1,000
CARBON
0.22
0.23
0.22
0.18

20192020
2021

2022
FUEL

(Litres/Cargo
Tonnes)

0.18
0.19
0.20
0.21
0.22
0.23
0.24
1.38
1.73
1.82
1.77

20192020
2021

2022
ENERGY

(kWh/Cargo
Tonnes)

1.20
1.30
1.40
1.50
1.60
1.70
1.80
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Infrastructure
Berth 6
Container
Expansion
The primary purpose of the Berth 6
Container Expansion Project was to
improve safety and increase capacity.
The expansion provided sufficient
space to separate the container repairs
from normal container operations. The
project involved the demolition of Shed
6, new pavement construction, and
the introduction of a 30m light tower
to meet container terminal lighting
standards.
We also took the opportunity to replace
aging underground utilities on Berth 6,
such as water main pipelines, valves,
hydrants, and high voltage electrical
cables.
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Access Bridge
We began the refurbishment of the
access bridge back in 2019 with a
particular focus on the underdeck,
where corrosion of the steel reinforcing
had taken hold. We are pleased to
report that only 7% of the underdeck
remains untreated. We expect this to
be completed by December 2022.
From there, we will turn our attention
to the reinforced concrete piles. We
will monitor these piles regularly and
undertake the necessary maintenance
when required.
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6-316-636-666-6-6-666-6-6-666-636-666-656-6-6-636-6-6-63
–ō()22—2

2ū0)2

Substation B
This year, as part of our electrical
network asset management plan, we
completed a Substation B overhaul.
The scope of work included removing
the aging switchboard, ring main unit,
transformer, and redundant cables,
replacing them with brand new modern
equipment. The new equipment has
been designed with future demand in
mind.
This was a complex project because
it required Substation B to shut down
entirely for two months. To maintain the
power supply to essential Port services,
we redirected the power from Substation
E and used a portable generator.
Site Engineer, Andrew Hill, under
the access bridge.
Substation B before the work was completed.Substation B after the work was completed.
59

Solar Panels –
Navigational
Beacons
The Port navigational infrastructure
includes four beacons on Tiwai
Peninsula to assist pilotage into South
Port. Currently, these beacons are
powered via an overhead power line
taken from an NZAS transformer.
Recently this power supply has been
unreliable and required us to look at
alternative power sources to ensure
uninterrupted marine operations. As
such, we are installing solar panels,
which will provide backup when the
power supply coming from NZAS
fails (the panels are also designed to
run independently 24/7 removing the
reliance on power supply from NZAS).
High Wind
Alarms
Closing the container terminal due
to high winds occurs from time to
time, and we are always looking to
improve our alert procedures in a
high wind event. An improvement
we have initiated this year is a visual
and electronic high wind alarm. We
have placed wind alarm lights at each
entrance to the container terminal. The
trigger levels and required are actions
are outlined to the left.
The alert system also sends texts
and emails to the terminal manager
and supervisors.
!
WIND LIMIT LIGHT ACTION
Reduce to one
empty container
Stop handling
empty containers
Close Container
Terminal
Flashing amber
Static amber
Red
30 Knots
43 Knots
50 Knots
60

South Rail – Log
Yard Upgrade
Construction began in April on the
17,000m
2
South Rail log yard upgrade.
This area has been a log yard for many
years, but this project transforms
the existing gravel yard into a nice
smooth asphalt surface. This project
involved extensive consultation with
our log export customer base to
ensure sufficient space was available
to make the upgrade possible. The
site was split into two equal sections
to allow log exporters to continue to
operate on one half. At the same time,
the pavement construction took place
on the other half, swapping over to
enable the upgrade of the second half.
With the North Rail log yard
upgrade completed in 2017/18,
there is now a 32,000m
2
asphalt
log yard in the centre of the Island
Harbour. Several benefits are
derived from these developments,
including improvements to safe
working conditions for mobile plant
operators, the separation of log truck
discharge activity from general traffic
on the Island Harbour, a cleaner
work surface, and an improved
environmental outcome from the
introduction of a filter system in the
drainage network.
Granular material excavated from
the old log yard surface has been
stockpiled on our Foreshore Road
property to be used in future
maintenance projects.
We also took the opportunity to
install a new water main to provide
better service to the western end of
the Island Harbour, along with empty
ducting for future fibre and electrical
connectivity.
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Financial Highlights
In Thousands of New Zealand Dollars 2022 2021
Operating revenue $48,584 $47,291
Total revenue $49,968 $47,667
Reported surplus after tax $12,829 $10,714
Normalised surplus after tax $11,162 $10,452
EBITDA $21,152 $18,850
Cashflow from operating activities $13,695 $15,827
Total assets $88,136 $68,673
Total equity $55,274 $49,528
Shareholders’ equity ratio 62.7% 72.1%
Earnings per share 48.9c 40.8c
Dividends declared per share 27.0c 27.0c
Net asset backing per share $2.11 $1.89
Return on equity/shareholders’ funds 24.5% 22.5%
Cargo throughput (000’s tonnes) 3,554 3,454
202126.00c
Dividends Paid Per Share
2018
2020
2019
2022
26.00c
26.00c
26.00c
27.00c
Return on Equity
2019
2021
2018
2020
Surplus After Tax
2018
2020
2019
2021
$9.6m
$9.8m
$9.4m
$10.7m
2018
2022$12.8m
Operating Cash Flow
2018
2019
2021
2020
$12.3m
$13.6m
$12.3m
$15.8m
2022$13.7m
Equity Ratio
2018
2020
2019
2021
2018
2020
2019
7 2 .1 %
76.8%
75.9%
74.0%
62.7%
2022
Return on Assets
2018
2020
2021
2018
2019
23.5%
23.7%
25.6%
26.3%
2022
23.2%
202224.5%
25.0%
23.6%
21.3%
22.5%
62

NET PROFIT AFTER TAX
$12.83m
19.8% on previous year $10.71M
DIVIDENDS DECLARED PER SHARE
2 7. 0 0 c
Same as previous year 27.00c
EARNINGS PER SHARE
48.9c
19.7% on previous year 40.8c
OPERATING REVENUE
$48.58m
2.7% on previous year $47.29M
EBITDA
$21.15m
12.2% on previous year $18.85M
RETURN ON SHAREHOLDERS’ FUNDS
24.5%
Previous year 22.5%
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One of South Port’s Liebherr
mobile container cranes.
64

Directors’ Profiles 66
Statutory Report of Directors 68
Statutory Disclosure in Relation to Shareholders 72
Corporate Governance Statement 74
The Board and Leadership Team of South Port is committed
to maintaining the highest standards of governance by
implementing the best practice principles and policies, as
set out in this section.
governance
04

Directors’ Profiles
Mr Chapman is a Senior Partner in
Southland/Queenstown Law Firm
Cruickshank Pryde based in Invercargill.
He has been in legal practice in
Invercargill for 41 years. Mr Chapman’s
practice covers a wide range of
legal services including commercial
and company law, litigation, dispute
resolution and resource management.
He is also a past member of the
Southland Aquaculture Working Group
established to promote and support the
development of sustainable aquaculture
in Southland.
REX CHAPMAN
LLB, CMinstD, Chair
Appointed October 2002,
Chair from 2011
Mr Cory-Wright is a Company Director
and a Strategic Adviser based
in Auckland. He is the inaugural
Chairman of Papa Rererangi i
Puketapu (New Plymouth Airport)
a Director of Matariki Forests, Te
Pūtea Kāwanatanga ā-rohe (the
Local Government Funding Agency),
Powerco, and New Zealand Windfarms.
Mr Cory Wright was previously a
member of the Local Government
Infrastructure Expert Advisory Group.
PHILIP CORY-WRIGHT
BCA, LLB (Hons), CFInstD
Appointed September 2010
Ms Greer is a Company Director
based in Queenstown. She is currently
a Director of Airways Corporation,
Fidelity Life Assurance Ltd, Precinct
Properties Ltd, New Zealand Railways
Corporation, and a member of the NZ
Markets Disciplinary Tribunal. She
is also a shareholder and Director
in a privately owned commercial
property investment and development
company.
Prior to her governance career,
Nicola had extensive experience
in NZ, Australia, and the UK in the
banking and finance sectors. This
encompassed a range of roles within
the financial markets and asset and
liability management at ANZ, Citibank,
and Goldman Sachs.
NICOLA GREER
MCom(Hons)
Appointed November 2019
66

Mrs Henderson is a full-time
Independent Director. She brings
engineering expertise and broad
business understanding to the board
room. Michelle brings a passion
for process innovation, sustainable
business outcomes, and safety. As
a digital native, Michelle brings a
thought-provoking generational
perspective to the board room.
Michelle is on the Board of Meridian
Energy and Fulton Hogan. She is
also a Board Member of Cycling New
Zealand Incorporated and a Trustee of
Youthline Southland.
Her last executive role was as Chief
Operating Officer of PowerNet, leading
the operational division. Michelle
was recognised as the NZ Safeguard
Business Leaders’ Health and Safety
Forum Leader of the Year in 2019.
Based in Invercargill, Michelle is a
former executive of Rio Tinto, both in
New Zealand and Australia.
MICHELLE HENDERSON
BE (Hons), CMInstD
Appointed October 2021
Mrs Kearney’s background is in
Agriculture and Farm Business
Management Consulting. She is a
Judicial Justice of the Peace.
Mrs Kearney is President of the New
Zealand Alpine Club, a trustee of the
Waitaki Safer Community Trust, and
a director on the Observatory Village
Lifecare and Care Boards. Formerly,
the Chair of Sport Otago and Chair
of Network Waitaki Ltd. Mrs Kearney
was the 2014 winner of the Institute
of Directors Otago Branch Aspiring
Director Award. Mrs Kearney acted as
an observer director to the Dunedin
City Holdings subsidiary company
Taieri Gorge Railway Ltd during 2015.
CLARE KEARNEY
BAgSci, MProfStuds,
GradDipArts(Phil), CFInstD
Appointed October 2016
Mr McClean is a Fellow Chartered
Accountant with 40 years of public
practice experience in the southern
region. He is a Principal in Invercargill
accounting firm Malloch McClean,
holds a Public Practice Certificate with
Chartered Accountants Australia New
Zealand and is a Justice of the Peace.
Mr McClean provides strategic,
succession, tax advisory and
governance services to a significant
portfolio of local agriculture and
commercial businesses. He also
enjoys mentoring young business
leaders to grow smarter better
businesses that balance the needs of
work, family, and the community.
JEREMY M
C
CLEAN
BCom, CA, MInstD
Appointed September 2011
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Principal
Activities
The Company is primarily engaged in
the commercial operation of the Port
of Bluff. There has been no significant
change in the nature of the Company’s
business during the year.
Accounting
Period
The financial statements are for the
12 month period from 1 July 2021 to
30 June 2022.
Results
The company recorded a Net Surplus
After Tax for the period of $12,829,000.
Disclosure of
Share Dealing by
Directors
The following Directors traded the
below equity securities in the Company
during the 12 months ended
30 June 2022:
Statutory Report
of Directors
The Directors have pleasure in submitting their
2022 Report and Financial Statements.
Dividend
The Directors have declared an ordinary
dividend of $7,083,000 (27.00 cps) for the
period ended 30 June 2022 including the
final dividend amount of $5,116,000
(19.50 cps) payable in November 2022.
Directors’ and
Officers’ Liability
Insurance
The Company has arranged Directors’
and Officers’ Liability Insurance with
Vero Liability Insurance Limited. This
cover insures Directors against liabilities
to other parties that may arise from their
positions as Directors. The insurance
does not cover liabilities arising from
criminal actions.
Accounting
Policies
There were no changes in accounting
policies during the period. All policies
are consistent with those applied in the
previous year.
South Port
Directors
R T Chapman — 2,015 — 2,015
P W Cory-Wright — 3,421 — 3,421
J J McClean — 3,000 — 3,000
M A Henderson — 566 — 566
Number of
Shares sold
Opening
Shareholding
1 July 2021
Number
of Shares
acquired
Balance of
shares held
30 June 2022
68

R T Chapman $85,000
P W Cory-Wright $49,600
N J Greer $49,600
J J McCLean $49,600
T M Foggo $16,533
C M Kearney $49,600
M A Henderson $37,200
Total $337,133*
NameGross Taxable
Remuneration of Directors
01/07/2021 to 30/06/2022
Remuneration of
Directors
Directors’ remuneration for the
12 month period ended 30 June 2022
was as follows:
No other benefits have been provided
by the Company to a Director or in any
other capacity. No loans have been
made by the Company to a Director
nor has the Company guaranteed any
debts incurred by a Director.
Remuneration of
Employees
Section 211(1)(g) of the New Zealand
Companies Act 1993 requires
disclosure of remuneration and other
benefits, including redundancy and
other payments made on termination
of employment, in excess of $100,000
per year, paid in respect of the
current year by the Company to any
employees who are not Directors of
the Company.
The Chief Executive Officer’s
Employment Contract is reviewed
annually by the Board. It is not a
fixed-term contract.
The remuneration of senior
management is reviewed annually
and is determined in a transparent,
deliberate, and objective manner.
Remuneration
$100,001-$110,000 6
$110,001-$120,000 1
$120,001-$130,000 2
$140,001-$150,000 1
$150,001-$160,000 1
$170,001-$180,000 2
$180,001-$190,000 1
$190,001-$200,000 1
$200,001-$210,000 2
$220,001-$230,000 3
$260,001-$270,000 2
$280,001-$290,000 2
$480,001-$490,000 1
Number of
Employees
Notice and
Pause Provisions
The Company has adopted “notice
and pause” provisions in its
Constitution.
Audit & Risk
Committee
The Company has a formally
constituted Audit & Risk Committee
comprising Messrs J J McClean
(Chair), R T Chapman and
P W Cory-Wright.
It is the role of the Audit &
Risk Committee to review the
Company’s financial statements and
announcements, liaise directly with
the Company’s Auditors and review
the Company’s accounting policies,
practices and related matters.
* Directors’ fees total pool is $333,000 but there
was a crossover of the incoming and outgoing
directors at one meeting (AGM).
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