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

People & Company News

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Contracts

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

De Beers Orders Specialized Ship from Kleven

Kleven signed a contract with diamond company De Beers Marine Namibia, part of De Beers Group, on the building of a highly specialized vessel for deep water mineral exploration.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Finance

UASC Targets Expansion to Beat Container Market Blues

UASC expects to reach volume of 2.35 mln TEU in 2014 Global carriers still struggling with weak conditions United Arab Shipping Company (UASC) is on a major expansion drive,

Ecoships Claims 15% Ship Efficiency Gain

Ecoships introduced a customized version of the Six Sigma DMAIC approach to process and performance evaluation in order to optimize the energy-efficiency of the vessels under its management.

Singapore Bunker Meter Mandate Targets 'Frothy Fuel'

Singapore, the world's biggest bunkering port, plans to end the so-called "cappucino effect" in ship fuelling through new meters designed to stop suppliers from short-changing customers,

News

Rederij Groen Takes Delivery of 7-Waves

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves,

UASC Targets Expansion to Beat Container Market Blues

UASC expects to reach volume of 2.35 mln TEU in 2014 Global carriers still struggling with weak conditions United Arab Shipping Company (UASC) is on a major expansion drive,

Ecoships Claims 15% Ship Efficiency Gain

Ecoships introduced a customized version of the Six Sigma DMAIC approach to process and performance evaluation in order to optimize the energy-efficiency of the vessels under its management.

Marine Equipment

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

John Deere Expands Tier 3 Engine Line

John Deere Power Systems (JDPS) has introduced new propulsion ratings to its EPAMarine Tier 3 engine offerings. The new PowerTech 4045TFM85 propulsion ratings expand

Caterpillar: Q3 Results Show Improvement

Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.2140 sec (5 req/sec)