Port Of Tyne Announces 5 YRS Of Record Growth

By Joseph R. Fonseca
Saturday, June 14, 2014
Port of Tyne

In 2013, the Port saw cargo volumes increase by 25% to 8.1m tonnes, and turnover rose 16% to £73 million compared to 2012.

Andrew Moffat, Port of Tyne Chief Executive Officer, said that 2013 had been another record year, and looking back over five years, the Port had achieved substantial growth not only in the performance of the business, but also in the investments made in Port infrastructure, and in the impact the Port has had on the regional economy.

"We have continued to develop the Port's vital infrastructure and have invested a total of over £60 million since 2009 with £15 million invested just last year," he said. "As a result, the Port of Tyne is now a larger and more sustainable business, offering greater resilience to our growing customer base in world-wide markets and bringing even greater economic value to the North East."

In 2013, 8.1 million tonnes of cargo was handled at the Port of Tyne, 625,000 passengers used the International Passenger Terminal, 640,000 cars crossed the quays making the Port the UK's biggest car exporting facility, and over 60,000 container units (teus) were either imported or exported.
 

Profit before tax in 2013 whilst still strong at over £6 million - three times higher than profit achieved in 2009 - decreased in 2013.  This was due to crane outages which resulted in significant repair and associated operational costs, and also because of further investment made in the planned expansion of wood pellet facilities.  The number of employees has increased by 27% since 2009, and now the workforce stands at almost 600, including 16 new apprenticeships this year. 

"We have also continued to invest in the people who make the Port successful - the employees - and whilst we already are in the top 2% of Silver status Investors in People accredited businesses in the UK, this year we are striving to achieve gold."

Over the last five years the impact the Port has on the regional economy grew by 38% to over half a billion pounds supporting almost 10,500 direct and indirect jobs that depend on a thriving Port. Capital investments since 2009 have included major infrastructure developments including new cranes, quays, land acquisitions and dredging. The Port of Tyne now has over 600 acres of land and 3,000 metres of quays.

A £25 million capital programme to extend the main Riverside Quay by 125 metres, and also to connect the Port's south bank estate to the recently acquired 17 acre adjacent site, is due to start by the end of June.  Supporting the growth of renewable energy, including plans for a potential £180 million extension of wood pellet cargo facilities, remains central to the future of the Port of Tyne.

"With its existing assets, the Port is now in a position to take advantage of opportunities in the renewable energy and offshore sectors.  We will do this by implementing strategies that develop and utilise the recently acquired quays and operational land to maximise their potential.  And in this way we will continue to diversify the business of the Port," added Andrew.

The Port has committed 1% of profit efore tax to the Port of Tyne Community Action Fund, making it the biggest corporate fund of its kind in the area, distributing £119,000 during the year to charitable organisations supporting young people, communities and the environment. In total, the Port invested just under half a million pounds - £446,000 - in its community engagement programme designed to support thriving communities within its area of operations.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Gondan to Build Spanish Patrol Boats

Gondan Shipyard has recently signed a contract with the Guardia Civil, Spain’s Civil Guard, for the building of two patrol boats. The aluminum and fiber (PRFV ) vessels will measure 20.

ABS to Class the World's First CNG Ship

ABS announced it has been chosen to class the world's first compressed natural gas (CNG) carrier ordered by Pelayaran Bahtera Adhiguna, a subsidiary of Indonesia's

Interview: Roberto Cazzulo Talks Class Trends

As Roberto P. Cazzulo, RINA, steps down as the Chairman of the IACS Council, Maritime Reporter caught up with him to discuss the current state and future direction of global class.

Contracts

Gondan to Build Spanish Patrol Boats

Gondan Shipyard has recently signed a contract with the Guardia Civil, Spain’s Civil Guard, for the building of two patrol boats. The aluminum and fiber (PRFV ) vessels will measure 20.

New Australian Navy Submarines to be Japan Built?

Australia should discuss building its next-generation fleet of submarines overseas, the Department of Defence said on Monday, a shift that could open the door to

Russian Navy Expansion Gathers Momentum

The Russian Navy celebrates its professional holiday by putting two new submarines into service and expects a new warship in the fall and several additional ships

Legal

Desulfurization of Exhaust Gases in Shipping

Are shipowners prepared to enter SECA zones?   Due to existing regulations on air exhaust emissions from the International Maritime Organization (IMO), and with

Tanker with Iraqi Kurdish Oil Anchors off Texas Port

A tanker carrying crude oil from Iraqi Kurdistan was anchored near the Port of Galveston, Texas, and must undergo a routine safety inspection by the U.S. Coast

Panama's Alfonso Castillero Moves to Liberian Registry

The Liberian Registry informs that Alfonso Castillero, former Director-General of the Panama Registry, has joined their organization as Vice-President. Castillero

Ports

Marseilles Fos Reports Mixed First Half

First-half container traffic at leading French port Marseilles Fos totalled 583,287 teu – up 7% on the first six months last year - marked by a 10% increase at the deepsea Fos terminals.

GPA Sets Tonnage Record

The Georgia Ports Authority moved more than 29 million tons of cargo, 3 million twenty-foot equivalent container units (TEUs) and more than 700,000 auto and machinery units in Fiscal Year 2014.

Location of New Port Expansion Projects: Analysis

When it comes to port development, many governments now favour letting the market decide where expansion should take place, whereas most other transport infrastructure,

Finance

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Cummins Reports Revenue Jump in Q2 2014

Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013.

GPA Sets Tonnage Record

The Georgia Ports Authority moved more than 29 million tons of cargo, 3 million twenty-foot equivalent container units (TEUs) and more than 700,000 auto and machinery units in Fiscal Year 2014.

News

HMS Prince of Wales Delivery Begins

A huge section of hull for HMS Prince of Wales, the second aircraft carrier being delivered to the Royal Navy, has today departed BAE Systems in Glasgow on a 600-mile

Gondan to Build Spanish Patrol Boats

Gondan Shipyard has recently signed a contract with the Guardia Civil, Spain’s Civil Guard, for the building of two patrol boats. The aluminum and fiber (PRFV ) vessels will measure 20.

Marseilles Fos Reports Mixed First Half

First-half container traffic at leading French port Marseilles Fos totalled 583,287 teu – up 7% on the first six months last year - marked by a 10% increase at the deepsea Fos terminals.

 
 
Maritime Contracts Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1929 sec (5 req/sec)