Timaru's port is the reason the town exists, and it's still very much in business. Grain from the Canterbury Plains moves through here; so do logs, containers, and the occasional cruise ship. The waterfront has the honest, utilitarian look of a place that works for a living: silos, cranes, bollards, chain-link fencing.
The best vantage point is the end of the breakwater, which juts out into Caroline Bay and provides a good view back over the town and out to sea. It's a pleasant walk on a calm day, and the contrast between the working port infrastructure and the beach is part of what makes Timaru feel like a real place rather than a tourist construct. Early morning, when the light is good and the port is active, is the best time to visit.