Q3 Operational Update

channelnz.com

NZX RELEASE
16 October 2023

Q3 2023 Operational Update
Channel Infrastructure (CHI) has today released its operational update for the three months ended 30
September 2023 (Q3 2023), combined with an update on the conversion project.

HIGHLIGHTS

Terminal and pipeline throughput
• 20 import shipments received and discharged during the quarter (2023 YTD: 56).
• Terminal and pipeline throughputs were strong at c.838 million litres in Q3 2023, up 17 million litres
on the previous quarter and 16% higher than Q3 2022.
• The increased throughput continues to be driven by a strong aviation demand recovery, with jet
throughput up c.57% on the previous corresponding period (Q3 2023: 314 million litres; Q3 2022:
200 million litres).
• For the nine months ended 30 September 2023, total throughput was 2,470 million litres, tracking
slightly above the Envisory (formerly Hale & Twomey)
1
fuel demand outlook for 2023.



• A summary of Quarterly Terminal and Pipeline Throughputs by fuel type since commencement of
import terminal operations on 1 April 2022 is included as Appendix I.

Conversion project
• c.45 million litres of jet private storage capacity was successfully commissioned in September 2023,
(part of the 100ML of private storage currently contracted) and as a result on-site jet fuel storage has
more than doubled through the import terminal conversion.

1
Refer to page 26 of FY22 Investor Presentation available at: CHI FY22 Investor Presentation

channelnz.com
• Conversion costs remain within budget ($200-220 million of conversion costs and $45-50 million for
private storage) with c.$189 million spent to 30 September 2023 (30 June 2023: $170 million),
including c.$36 million of private storage costs (30 June 2023: $30 million).
• Net borrowings increased to $315 million as at 30 September 2023 (30 June 2023: $295 million).


- ENDS -
Authorised by:
Chris Bougen
General Counsel and Company Secretary
Investor Relations contact:
Anna Bonney
investorrelations@channelnz.com

Media contact:
Laura Malcolm
communications@channelnz.com


About Channel Infrastructure NZ
Channel Infrastructure is New Zealand’s leading fuel infrastructure company.
Channel Infrastructure owns critical infrastructure, supplying the Northland and Auckland markets, which
make up 40% of New Zealand’s transport fuel demand and all of the jet fuel to the Auckland International
Airport. Utilising the deep-water harbour and jetty infrastructure at Marsden Point, as well as 280 million
litres of storage tanks, and the 170-kilometre pipeline from Marsden Point to Auckland we receive, store, test
and distribute fuel owned by our customers. Channel Infrastructure’s wholly-owned subsidiary, Independent
Petroleum Laboratory Limited, provides fuel quality testing services at Marsden Point and around New
Zealand.
Channel Infrastructure is well positioned to support New Zealand’s changing future fuel needs, with growth
opportunities at the Marsden Point site including additional fuel storage to support fuel security and studies
underway with partners on hydrogen and sustainable aviation fuel opportunities.
For more information on Channel Infrastructure, please visit: www.channelnz.com

channelnz.com
Appendix I – Terminal and Pipeline Throughputs (since 1 April 2022)


Terminal and Pipeline
Throughputs by quarter

2022
ML
2

2023
ML
Quarter 1

Jet

280
Diesel

282
Petrol

249
Total

811

Quarter 2

Jet

146 299
Diesel

275 274
Petrol

257 249
Total

679 821

Quarter 3

Jet

200 314
Diesel

264 261
Petrol

258 263
Total

721 838

Quarter 4

Jet

244

Diesel

275

Petrol

280

Total

799










2
ML – million litres