Lyttelton Port's lead insurer is disputing the port's latest insurance claim from the earthquakes that devastated the city, and the port will welcome just three cruise ships this summer, down from 64 last year.
Yet the port was able to tell shareholders at their annual meeting that it had a record quarter in the three months to September.
It is forecasting a trading profit of between $13 million and $15 million for the full-year after notching up $4.1 million of that in the first three months.
The port has received progress payments of $35.7 million for both business interruption and material damage expenditure as a result of the magnitude 6.3 earthquake that struck on February 22.
A further progress claim of $11 million was made in August, which has grown to $20 million with additional expenditure over the past few months.