The Port of Milford Haven has posted strong trading results in 2022 following a record-breaking year for its shipping results. The UK’s largest energy port, located in Pembrokeshire, reported profits of £3.3m last year, up from £1.5m in 2021.
It also saw turnover rise by 59% to £39.4m in 2022 (from £24.8m in 2021), with £1.9m operating profit also up from £1.3m. This, the Port said, was due to increased demand for pilotage services from its gas and oil terminal customers, such as South Hook LNG and Dragon LNG.
The Port reported a record-breaking year for cargo volume entering the port which increased by 28% to 38.9m tonnes (based on provisional data supplied by the Department for Transport). This was largely down to a surge in dues paying ships to the terminals on the Haven, the Port said. While cash flow generated from operations remained at good levels of £13.9m in 2022 from £6.1m in 2021.
