Channel Infrastructure NZ (ASX:CHI) released its operational update for the three months ended Dec. 31, 2025, reporting record throughput and continued progress on key growth projects.
Total fuel throughput for Q4 2025 reached 945 million litres, marking a 3.9% increase compared with the same period in 2024 and representing the highest quarterly throughput since import terminal operations began in 2022.
Jet fuel throughput hit its highest level since Q1 2019, while petrol and diesel volumes for the full year were higher than FY24 and aligned with the Envisory fuel demand outlook.
The quarter saw 13 import shipments, down from 15 in Q4 2024, reflecting the arrival of larger Long-Range vessels at Marsden Point, which reduced the overall number of ship movements.
Approximately 50% of Channel's contracted revenue is derived from fixed or capacity-based fees, with the remainder linked to fuel throughput. Year-to-date throughput totals 1,422 million litres, up from 1,404 million litres in FY24.
On the growth and conversion front, the Z Energy jet storage project is ahead of schedule and on budget, with tank conversion expected in H2 2026, advancing from the original Q1 2027 timeline.
The bitumen import terminal remains on track for delivery in H2 2026.
Construction for additional storage announced in August 2025 is progressing as planned and is expected to generate $50 million in revenue over a nine-year term starting Q1 2028.