Napier Port and Port Otago in New Zealand have formed a joint venture to build and purchase a NZ$36 million (US$20 million) trailing suction hopper dredger (TSHD).
The partnership builds on a long-standing collaborative relationship between the two ports and will see formation of a new dredging company via a limited partnership agreement.
Napier Port said that given New Zealand’s relatively small size, this investment is a financially astute approach to ensuring the country’s port infrastructure is well placed to meet the future demands of global shipping. From a safety and resilience perspective, it protects the two ports' shipping channels and harbour access for future generations.
"We can meet our ongoing maintenance and capital dredging needs more efficiently, while delivering improved access and a sustainable solution for our region," said Todd Dawson, CEO of Napier Port. "The dredger will enable Napier Port to optimise its current resource consents, valid until 2053, to incrementally deepen our shipping channels over time, from their current depth of 12.5 metres at low water to the consented depth of 14.5 metres."
Dawson said the new water depths will accommodate larger, deeper-draught vessels and strengthen the port’s ability to handle future growth.
Port Otago will manage and operate the TSHD, though ownership will be shared by the partners.
"Shared ownership of the TSHD enhances operations at both ports and reduces duplication of investment within the sector," added Port Otago Chief Executive Kevin Winders.
The partners expect the dredger to be operational by late 2026.