Port of Blyth future looks 'incredibly bright' after record-breaking financial results announced

This represents a 72% increase in profit from 2021, while the port increased turnover by 19.2% to its highest-ever amount of £30.4m.

An increased focus on serving the offshore energy industry meant a 23% increase in the number of offshore energy-related vessels entering the harbour, including the port’s widest-ever vessel the Blue Tern.

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.”

Port of Blyth is the operating division of Blyth Harbour Commission, an independent statutory trust that manages the port.

As a trust port, all surplus profits are reinvested back into the port’s facilities in order to benefit users, employees, the local community and the North East.

The financial results were announced at the port’s annual public meeting this week.

Chairman of the board of commissioners, Geoff Hodgson, said: “The future looks incredibly bright for the Port of Blyth after two consecutive record years of financial performance.

“This would not have been possible without the hard work and dedication of all employees who consistently provide exceptional services to our stakeholders.”

The port’s capital expenditure, funds invested in physical assets, was £7.8m, and included the redevelopment of the Bates Clean Energy Terminal, investment in the Battleship Wharf Terminal, and purchase of a 125-tonne lift capacity electric crane.

While the cargo volume dropped to 610,000 tonnes, this was made up for by a greater focus on quick turnarounds of high value equipment, and the 1099 vessel movements at the port was another annual record.

Financial performance figures for the port’s subsidiaries were also unveiled at the annual meeting. Logistics subsidiary Transped posted a £11.9m turnover and £400,000 pre-tax profit.

Blyth Valley MP Ian Levy said: "I would like to congratulate the Port of Blyth on another fantastic year.

“I have always done what I can to support the port because they are such an important Blyth Valley business.

“They have done so much to leverage other investments into the area and to support the transition of our local industrial sector to a world leading renewable energy cluster.This brings green jobs and increased prosperity to Blyth Valley.

“Well done to the port, all of the staff, and their supply chain and customers. It is a success worth celebrating."

The impact of the port’s growth is felt by local businesses such as Blyth deli 14 Stanley Street, which caters the port’s board meetings and events like the Bates Clean Energy Terminal official opening.

Sarah Riley, one of three sisters who runs the deli, said: “That was when a number of the businesses that operate from the port also found out about us. Quite a few of them pop in for lunch.

“Our outside catering seems to be expanding on the back of all these businesses starting to hear about us.”

According to Sarah, other local firms seeing increased footfall from the port’s success are referring new customers to fellow independent local businesses.

She added: “Generally I would say any expanding business in Blyth is great news at the moment.

“It feels like it could be on a good, upward turn.”