Member Article

Five years of record growth at Port of Tyne

A record five years of increased cargo volumes and turnover will be announced today at the Port of Tyne’s AGM.

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

A dip in profits in 2013 was caused by costs associated with crane outage repairs and the investment in wood pellet facilities, but the Port remains positive about its growth.

In the same year some 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.

The Port grew its workforce by 27% between 2009-2013, and it now employs 600, including 16 apprenticeships this year.

Andrew Moffat, Port of Tyne CEO, said: “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.

“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.”

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.

Mr Moffat continued: “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.”

The Port committed 1% of profit before 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 operation.

This was posted in Bdaily's Members' News section by Tom Keighley .