An upturn in transport, coupled with a dedication to ship wonderful buyer providers resulted in robust monetary outcomes for the Port of Milford Haven throughout 2022 and a optimistic buying and selling setting for the companies and organisations across the Milford Haven Waterway.
Turnover elevated by 59% from £24.8m in 2021 to £39.4m, with profitability rising to £3.3m in comparison with £1.5m the earlier yr. It was a record-breaking interval for transport with cargo coming into the Port rising by 28% to 38.9m tonnes[1]. The exceptionally busy yr was largely all the way down to a surge in dues paying ships to the terminals on the Haven. All the Port workforce performed their particular person components in delivering this collective response to our prospects’ calls for, on a regular basis sustaining protected and environment friendly providers whereas supporting purchasers to fulfill their enterprise calls for.
Funding exercise throughout the Port’s property continued all through 2022, with work on the £60 million Pembroke Dock Marine challenge progressing effectively to higher assist present prospects, but additionally to create the capabilities for the subsequent era of our prospects working within the floating offshore wind, hydrogen and sustainable fuels sectors. Pembroke Port skilled a busy summer season interval due to main tasks on the South Hook LNG terminal and the Valero Pembroke Refinery. The Port’s actual property funding portfolio carried out effectively with retail and hospitality tenants at Havens Head Retail Park and Milford Waterfront reporting good restoration from the disruption attributable to the Covid-19 pandemic over the previous couple of years.
Hospitality and tourism operations have been notably pleasing, particularly with the opening of the 100 bed room Tŷ Resort Milford Waterfront in April 2022, including to the present waterside lodging providing. The Port’s companions, The Celtic Assortment, have skilled a profitable first yr of buying and selling and have constructed wonderful relationships with their business neighbours and with the area people.
One of the important collaborations over the previous twelve months has been the Celtic Freeport bid, a results of partnership working between the Port of Milford Haven, Pembrokeshire County Council, Neath Port Talbot Council, and Related British Ports at Port Talbot. The announcement that the Celtic Freeport bid was profitable in March this yr is testomony to the collective onerous work and dedication of the companions. Work is now underway to submit a closing enterprise case to each Governments later this yr.
The Port’s dedication to excellence runs additional than delivering for its prospects nonetheless, and far work is undertaken all through annually to generate alternatives and advantages for the area people. Because the cost-of-living disaster took maintain all through 2022, donations have been made to charities working to assist alleviate the monetary pressures for households and people, and inside the enterprise a price of dwelling cost was made to our 200-strong workforce.
Chief Government, Tom Sawyer, mentioned:
“2022 was a fantastic yr for the Port which meant we have been capable of proceed with our funding technique throughout our property but additionally allow our prospects and tenants to learn from the extra business exercise. I’m happy to report that we had no Misplaced Time Incidents and carried out a number of workout routines all year long to make sure our response to air pollution, security and safety incidents are examined and refined.”
He added:
“There have been many examples of how collaboration resulted in success for us and our stakeholders, the standout being the success of the Celtic Freeport bid. The chance this presents for the area could be very thrilling and I’m notably happy with how the workforce on the Port has made the case for a freeport in an space blessed with the pure assets wanted to achieve Web-Zero.”
The Pembroke Dock Marine growth is a part of the Swansea Bay Metropolis Deal which is funded by the UK Authorities, Welsh Authorities and thru the private and non-private sectors. Additionally it is half funded by the European Regional Growth Fund via the Welsh Authorities.
The 2022 Annual Report and Accounts will be seen on-line: www.mhpa.co.uk
Provisional determine for 2022 primarily based on knowledge from the Division of Transport.
