Financial results for the Port of Blyth are among the best in the port’s 135-year history, officials have revealed.
The port has recorded a turnover of £20.6million alongside an adjusted operating profit of £1.32million, while in anticipation of growth over the next five years, total investment in 2017 climbed to more than £4million.
The Port of Blyth welcomed a number of high profile new tenants in 2017, including DeepOcean and Global Marine Group, which helped 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 three per cent on 2016’s previous record high while total cargo tonnage increased by six per cent over the same period.
Meanwhile investment reached £4.2million for the year. In preparing its infrastructure for an expected period of growth the port continues to respond to considerable interest from the market.