Channel Infrastructure NZ fuel throughput falls 2%

• Channel Infrastructure reported a 2% decrease in total fuel throughput to 802 million litres for the June quarter.
• The company's shares were unchanged at $2.63 on the ASX following the quarterly update.
• Elevated fuel prices from Middle East conflicts and pipeline upgrades drove the volume decline.

Channel Infrastructure NZ (ASX:CHI) reported a two per cent decrease in quarterly fuel throughput to 802 million litres.

This volume decline compares to the same three-month period last year when global fuel prices were lower.

Pipeline upgrades temporarily slowed petrol distribution, while regional conflicts reduced jet fuel shipments from Middle Eastern airlines.

The company stated that year-to-date fuel volumes remain stable and track in line with independent industry demand forecasts.

Following the announcement, the Channel Infrastructure NZ share price was unchanged at $2.63.

The fuel supplier recently discharged 17 import shipments to utilise its new 93 million litre government diesel storage facility.

Roughly 50% of the business revenue relies on fixed capacity fees to protect against volatile fuel consumption volumes.