Port of Blyth has released performance figures that confirm another year of success and growth, including encouraging financial results that are among the best in the Northumberland port’s 135 year history.
The Port has recorded a turnover of £20.6m alongside an adjusted operating profit of £1.32m, while in anticipation of growth over the next five years, total investment in 2017 climbed to more than £4m.
Already known as one of the UK’s leading offshore energy bases, the Port welcomed a number of high profile new tenants in 2017, such as market leaders DeepOcean and Global Marine Group, which contributed to both rental and operational income.
In addition, the installation of EDF Energy Renewables’ Blyth Demonstrator Offshore Wind Farm, which is being utilised to test new wind energy technology, led to the French energy giant’s renewables business creating an operational base at the port’s South Harbour terminal.
Martin Lawlor, Chief Executive of Port of Blyth, said: “Whilst 2017 was a challenging year for many in the port industry, Port of Blyth continued to progress; growing our client base, hosting a number of internationally significant projects and again setting a number of performance records.”
The Port enjoyed a record year for commercial vessel movements which grew by 3% on 2016’s previous record high while total cargo tonnage increased by 6% over the same period.
Meanwhile investment reached £4.2m for the year as the Port undertook its most significant level of development in more than a decade. In preparing its infrastructure for an expected period of growth in the short to medium term, the Port continues to respond to considerable interest from the market for its services.
The Port of Blyth’s financial results have been published in our Annual Review of 2017 and were confirmed at the Port’s recent Annual Public Meeting, both of which form part of our commitment to engaging with our stakeholders as a leading UK Trust Port.