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North Sea Giant, Port of Tyne, Close to Doubling Profit

The latest figures show that profit for Port of Tyne, the gateway for so much business in the North East, nearly doubled in 2014 to £10.2m.

The Port is also taking care of the region’s trading future, spending £11 million last year on new machinery and developing their plants. They have also started their £25 million cargo ships access project, by lengthening their main quay to nearly 1km long.

In addition to its own commercial success, the Port is hugely important to the region’s economy. In fact, its Gross Value Added grew 10% in 2014 to over £560 million, supporting over 11,200 jobs.

The company is always looking to diversify and make the most of their opportunities. It is now more than just a port operator. A record 572,000 people travelled on its Newcastle-Amsterdam route last year, part of its leisure service. Its logistics division provides a comprehensive distribution network for many port users, receiving £18 million a year turnover. Its trucks can be seen all over the UK motorway network.

With coal less in demand these days, the Port is keeping one step ahead. They are bringing in more of other resources like scrap metal, steel and grain to the North East. This is in addition to 1.9 tonnes of wood pellet alone (nearly twice as much as the previous year) arriving for use in power stations. The amount of cargo handled on the River Tyne in 2014, was a mammoth 6.7 million tonnes, the highest since 1989.

Blumilk has be a proud creative partner of the Port since 2006. We play the key central role in the rebranding of the Port in 2008. And, the creation of the now established and successful Reflect Awards in 2007. Reflect showcases the great photographic skills of the North East and is part of the Port’s successful engagement with its local community.

 

For more information, go to:

https://bdaily.co.uk/industrials/04-06-2015/port-of-tyne-sees-pre-tax-profit-double-as-it-continues-to-invest-in-infrastructure/

June 9, 2015