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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

TDDCL Seeks Input for New Repair Yard

Trinidad Dry Dock Company to develop new ship repair yard at Port of Spain; company requests Expressions of Interest for Environmental Impact Assessment and Geotechnical

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Maritime Training Five Years from Now: A Look Ahead

For anyone involved in maritime training, now is an incredibly exciting time full of opportunity. More than ever before, there are new advanced techniques and technologies

Contracts

UK North Sea Workers Give "Overwhelming" Support for Strike

Trade unions Unite and GMB said members working offshore in Britain's North Sea oil and gas industry had shown overwhelming support for industrial action in a consultative

Two ASD Tugs Delivered to URAG

URAG has taken delivery of two ASD 2411 Tugs to add to its existing fleet. Named Brake and Perfect, the new vessels have joined their sister ship Prompt in the

New Workwear Lifejacket Introduced

Ocean Safety has introduced a new range of workwear lifejackets.   The new Kru Workwear range completes Ocean Safety’s lifejacket offering, providing a wide choice

Legal

Mediterranean Rescue Operations Strain Shipping

The Wall Street Journal ran a story yesterday describing how the increasing number of seaborne migrants making the journey from Africa to Europe has not only

Ukraine Arrests Turkish Cargo Ship Over Crimea Port Call

Ukrainian authorities have arrested a Turkish-owned cargo ship and detained its captain over a visit it made to a port in Crimea after Russian annexed the peninsula from Ukraine last year.

Lack of Ship Definition is a Threat to Investors

AKD says the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly

Ports

TDDCL Seeks Input for New Repair Yard

Trinidad Dry Dock Company to develop new ship repair yard at Port of Spain; company requests Expressions of Interest for Environmental Impact Assessment and Geotechnical

Port of Aden Under Threat with Enemy at the Gates

As Saudi Arabia and its Arab allies stage air strikes against Shi'ite Muslim militiamen threatening to topple Yemeni President Abd-Rabbu Mansour Hadi, the southern

Ukraine Arrests Turkish Cargo Ship Over Crimea Port Call

Ukrainian authorities have arrested a Turkish-owned cargo ship and detained its captain over a visit it made to a port in Crimea after Russian annexed the peninsula from Ukraine last year.

Finance

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Turkey Maritime Sector Alive & Kicking

Located on the periphery of two great continents, Turkey has benefitted from being in a favored position right at the center of an assertive and fast growing economic area.

Advanced Drillships a Burden for Owners as Business Slows

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators.

News

Washington State Ferry Tacoma Returns to Service

Washington State Ferry M/V Tacoma will return to work on the Seattle/Bainbridge Island route starting March 28 after suffering electrical damage last summer.   The

TDDCL Seeks Input for New Repair Yard

Trinidad Dry Dock Company to develop new ship repair yard at Port of Spain; company requests Expressions of Interest for Environmental Impact Assessment and Geotechnical

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Marine Equipment

SimCity

Building Capacity, as Deadline for Trained Crews Nears   “You see that ship. That’s our ship,” says Karsten Saevik, as he directs our attention to the virtual

Schmiedag and Wildauer Schmiedewerke: 'We Forge Partnerships'

Olaf Wiertz, Sales Director at Schmiedag GmbH (SDG) and Wildauer Schmiedewerke GmbH & Co. KG (WSW) said: “We are more than just a supplier to our customers – we are their partner.

3D Machining Puts Wind in the Sails

With ESPRIT CAM software, Armor Mécanique has the wind in its sails; 50% time savings, better quality and new markets thanks to 3D machining Established in 1984

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics 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: 0.2672 sec (4 req/sec)