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

People & Company News

EXMAR Orders Second FLNG from Wison

EXMAR NV has placed an order for a second Floating LNG Liquefaction Unit (FLNG) at Wison Offshore & Marine. Under the agreement, Wison will be responsible for the turnkey engineering,

Marseille Fos Unveils Multimillion Growth Strategy

The Marseille Fos port authority has set out a vision for growth over the four years to 2018 in a strategic plan that puts developments costing $560 million at

Young Endeavour Sets Sail on World Voyage

The Royal Australian Navy operated Sail Training Ship Young Endeavour set sail from Sydney today for a 12-month voyage, circumnavigating the globe. Parliamentary

Contracts

Contract Awarded for US Aircraft Carrier Dismantling

The U.S. Navy awarded a contract, Dec. 22, for the towing and dismantling of the decommissioned aircraft carrier Ranger (CV 61) to International Shipbreaking, Ltd.

EXMAR Orders Second FLNG from Wison

EXMAR NV has placed an order for a second Floating LNG Liquefaction Unit (FLNG) at Wison Offshore & Marine. Under the agreement, Wison will be responsible for the turnkey engineering,

Shipbuilding: NAT Finalizes Deal for Two New Tankers

On December 9, 2014, Nordic American Tankers Ltd. announced that preliminary contracts had been entered into with a South Korean shipyard, for the construction

Ports

Marseille Fos Unveils Multimillion Growth Strategy

The Marseille Fos port authority has set out a vision for growth over the four years to 2018 in a strategic plan that puts developments costing $560 million at

Last Saltie Departs Duluth; Lakers Make Final Push

Duluth-Superior’s international shipping season winds to a close as last saltie departs; Great Lakes freighters make final push to mid-January   This weekend

Fighting for Ports Escalates in Libya

Military planes loyal to Libya's recognised government attacked on Sunday an opposing force that is seeking to seize the country's two biggest oil ports, officials said.

Finance

Nicaragua Start China-led Canal to Rival Panama

Nicaragua on Monday broke ground on its Chinese-led $50 billion shipping canal, a massive infrastructure project that aims to rival Panama's waterway and revitalize

Marseille Fos Unveils Multimillion Growth Strategy

The Marseille Fos port authority has set out a vision for growth over the four years to 2018 in a strategic plan that puts developments costing $560 million at

US Fleet to Pump $75m into Great Lakes Shipyards

U.S.-flag Great Lakes vessel operators plan to spend $75 million this winter to ready the fleet for the 2015 shipping season, the Lake Carriers’ Association (LCA) reported.

News

EXMAR Orders Second FLNG from Wison

EXMAR NV has placed an order for a second Floating LNG Liquefaction Unit (FLNG) at Wison Offshore & Marine. Under the agreement, Wison will be responsible for the turnkey engineering,

Nicaragua Start China-led Canal to Rival Panama

Nicaragua on Monday broke ground on its Chinese-led $50 billion shipping canal, a massive infrastructure project that aims to rival Panama's waterway and revitalize

Royal Caribbean to Install Scrubbers on 19 Ships

Royal Caribbean Cruises Ltd. (RCL) will retrofit 19 of its ships with advanced emissions purification (AEP) systems. These systems, also known as scrubbers, will

Marine Equipment

Royal Caribbean to Install Scrubbers on 19 Ships

Royal Caribbean Cruises Ltd. (RCL) will retrofit 19 of its ships with advanced emissions purification (AEP) systems. These systems, also known as scrubbers, will

US Fleet to Pump $75m into Great Lakes Shipyards

U.S.-flag Great Lakes vessel operators plan to spend $75 million this winter to ready the fleet for the 2015 shipping season, the Lake Carriers’ Association (LCA) reported.

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0410 sec (24 req/sec)