Port development funding

The parent company of Associated British Ports (ABP), ABP Acquisitions UK Ltd (ABPA), says that the £70m loan from the European Investment Bank needs to be made in order for the port to cater for Post-Panamax vessels operating principally on the far east to north Europe shipping routes.

Clive Thomas, deputy port manager, ABP Southampton, told Port Strategy that further development will push forward at the port when the finances are in place.

“Southampton is well placed to take advantage of this new trade. We’re already the most efficient container port in the country and we move the highest volumes away from the port by rail”, he told PS.

The new quay works are due to be completed in December. Four new gantry cranes will delivered in January 2014 and will be constructed on the quayside to cater for the larger vessels.

Meantime, dredging works for the approach channel will be carried out over a period of 12 months. The tender is due to be awarded in August.

Although the dredging works are not critical to the port development itself, it will improve the transit of vessels to the new quay and enable them to pass each other in the channel.

The development at ABP Southampton is included in the UK Government’s National Infrastructure plan. With the new development, the port aims to cement itself a key international gateway in Europe.