Image: Port of Blyth
Port of Blyth has released its 2017 financial results, reporting a turnover of GBP 20.6 million alongside an adjusted operating profit of GBP 1.32 million and total investment of GBP 4.2 million. Last year also saw record commercial vessel movements which grew by 3% on 2016’s previous record high, while total cargo tonnage increased by 6% over the same period.
The Port said it continued to be heavily active in servicing the wind energy sector during changing but exciting times, which was reflected in an increase of offshore projects supported through the Port and a reduction of onshore turbine pieces handled in 2017.
In 2017, there were several new tenants such as DeepOcean and Global Marine Group which, according to the Port, contributed to both rental and operational income. Furthermore, the installation of EDF Energy Renewables’ Blyth Demonstrator Offshore Wind Farm led to the French energy company creating an operational base at the port’s South Harbour terminal.
Having enjoyed significant growth over recent years resulting in a reputation as one of the UK’s leading offshore energy bases, the Port of Blyth’s success is set to continue with the growth of offshore wind and the development of major wind farms in the North Sea.”
With tendering for major projects in both the oil & gas and wind industries now underway for 2019 and 2020, the Port anticipates a busy few years ahead with considerable potential inward investment on projects featuring cable handling and storage, wind turbine foundations and jack-up operations in particular.
The total investment went over GBP 4 million as the port undertook its most significant level of development in more than a decade. The port said that, with preparing its infrastructure for an expected period of growth in the short to medium term, it continues to respond to considerable interest from the market for its services.