Port of Blyth hails record profits and turnover buoyed…

Port of Blyth hails record profits and turnover buoyed by global offshore wind sector

The Port of Blyth has seen profits and turnover jump in a record year, buoyed by success within the global offshore wind sector.

The business has seen revenues rise by 19.2% to reach £30.4m, breaking its own record for the second year running, while group operating profit grew by 72% to £3.7m. The port unveiled its financial performance for 2022 at its annual public meeting, saying its port operating business continued to thrive in 2022, providing support to internationally significant projects within the offshore wind industry, while also strengthening its reputation as a leading offshore energy hub.

It said it logistics subsidiary Transped also performed well, continuing to establish its reputation as a leading international logistics, storage and forwarding provider, bringing consumer products into the UK. Meanwhile, its in-house training provider, Port Training Services, continued to provide port and marine-related skills development to companies across the region and onsite.

While it remains a hub for the movement of cargoes, last year saw the port increase its focus on servicing the offshore energy industry, leading to it seeing a record amount of commercial vessel movements and a 23% increase in the number of offshore energy related vessels entering the harbour. The marine department welcomed the widest-ever vessel in the Port’s 141-year history, the Blue Tern, while it supported the construction of a major offshore wind farm.

During the year Martin Lawlor, chief executive of Port of Blyth, said it also made progress in its commitment to net zero targets, following the delivery of the largest electric crane of its kind, as well as the official opening of the Bates Clean Energy Terminal. He said 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.

Mr Lawlor 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.”