The Port of Tyne welcomed Shipping Minister Stephen Hammond, for a tour of the site and operations on Monday (1st July).
The Port of Tyne has achieved record growth, cargo volumes, and profits for three years in succession and recorded the largest year on year growth to become the fastest growing UK port, according to recently published Department for Transport statistics.
Mr Hammond was keen to see first-hand the progress made at the Port and new developments taking shape.
Shipping Minister Stephen Hammond said: “The Ports and the maritime sector play a vital role in the UK economy which I want to promote. And the Port of Tyne has a key role in this both nationally and regionally.
“Today I saw for myself the impact the port is making, as well as their impressive plans for the future. I wish the team here every success with their plans and in building further on the port’s recent very strong performance.”
Since 2009, cargo volumes at the Port of Tyne have more than doubled to 6.5m tonnes (the highest for 25 years); turnover has increased by more than half to £63m; cash flow has increased fourfold to £19m and profit before tax has grown more than fourfold to £12m.
In 2013 the Port retained its position as the number one UK car exporting port; (6th in Europe), 4th largest coal port, the leading importer of wood pellet in Europe, and recently won the prestigious North East Business of the Year award.
The Port has also achieved its best-ever customer satisfaction levels, and achieved silver standard Investors in People with one of the top scores in the UK.
Andrew Moffat, Port of Tyne, Chief Executive Officer, said: “We have achieved excellent results, breaking our own records three years running, and we have done this through major investment in infrastructure to ensure we are able to meet our customers’ needs and increase productivity and efficiency. We also have to acknowledge the efforts of everybody at the Port who have embraced change and delivered these great results.
“Going forward we have ambitious plans to develop our business. We updated the Minister on our major development plans and outlined how we are putting in place the funding to ensure we are able to take advantage of the significant growth opportunities that lie ahead,” added Andrew, who is also Deputy Chair of the British Ports Association.
• The Port of Tyne North East Business of the Year 2013 in the NE Business Awards is one of the UK’s major deep sea ports – a vital trading gateway to Europe and beyond
• Investment of over £120m in the past 10 years has created the infrastructure to deliver continued growth of the Port’s diverse businesses. These include conventional and bulk cargoes, car terminals, cruise and ferries, logistics and a commercial property portfolio.
• The Port of Tyne’s contribution to the economy of the North East is approximately £500m Gross Value Added per annum supporting 10,000 jobs
