The Port of Blyth has announced record financial results and several landmark achievements for 2022 at its recent Annual Public Meeting.
Overall Group turnover grew to £30.4 million, breaking the record for the second year running. Turnover increased by 19.2% compared to the previous year, whilst group operating profit grew by 72% to £3.7 million.
The Port operating business continued to thrive in 2022, providing substantial support to internationally significant projects within the offshore wind industry. Further strengthening the Port’s proven reputation as a leading offshore energy hub whilst driving record financial performance.
Forwarding and logistics subsidiary, Transped also performed well as it continued to establish its reputation as a leading international logistics, storage and forwarding provider, bringing a wide range of consumer products into the UK. Whilst in-house training provider, Port Training Services, continued to provide port and marine-related skills development to companies across the region and onsite at port locations.
The Port remained an important hub for the movement of a diverse range of project, containerised, dry bulk and breakbulk cargoes, but it was the increased focus on servicing the offshore energy industry in 2022 which saw a record amount of commercial vessel movements and a 23% increase in the number of offshore energy related vessels entering the harbour. In addition, the marine department welcomed the widest-ever vessel in the Port’s 141-year history, the Blue Tern, as it supported the construction of a major offshore wind farm.
In 2022, the Port of Blyth made considerable progress in its commitment to NetZero targets, following the delivery of the largest electric crane of its kind, as well as the official opening of the Bates Clean Energy Terminal. The redeveloped terminal has created a unique opportunity for low-carbon-focused inward investment and was instrumental in attracting RWE to choose Blyth as the construction base for one of the world’s largest offshore wind projects.
Martin Lawlor, Chief Executive of Port of Blyth, said: “I am delighted to announce another record year in 2022, despite ongoing economic challenges. This achievement will enable the Port to continue to drive investment plans and deliver long-term sustainable economic growth and jobs around the Blyth Estuary, securing opportunities for generations to come.”
Chair of the Board of Commissioners, Geoff Hodgson, added: “The future looks incredibly bright for the Port of Blyth after two consecutive record years of financial performance. This wouldn’t have been possible without the hard work and dedication of all employees who consistently provide exceptional services to our stakeholders.”
The Port’s performance was reported at its Annual Public Meeting recently delivered in-person and online. This important event forms a significant part of the Port of Blyth’s commitment to its stakeholders as a leading UK statutory Trust Port.
At the event, the Port launched its Annual Review 2022, which is available to download HERE.
Watch the Port of Blyth’s year in review HERE.