Peel deal cements port attraction

The deal follows the sale of the UK’s largest port group, Associated British Ports, earlier this year.

Peel Ports operates of the Port of Liverpool, Manchester Ship Canal, Heysham Port,Medway Ports and Clydeport. Tom Allison, chief executive of Peel Ports, described the deal as “overwhelmingly good news for Peel Ports, for our customers and for our people. “The combination of one of Europe’s largest port operators and a Associated British Ports (ABP) has renewed a three-year contract with Corus for steel coil shipments through its Newport and Swansea ports. The deal sees ABP commit to investing £500,000 to construct a new rail-passing loop at the Port of Newport, install modern storage facilities in both ports and provide an electronic-tallying system to record the handling of steel cargoes at Newport. Phil Dyrden, managing director for Corus Strip Products UK, said: “Corus’ decision to continue exporting steel coil through the Ports of Newport and Swansea reflects the excellent port infrastructure that ABP provides in South Wales.” global financial institution such as Deutsche Bank creates a compelling and powerful partnership.”

He continued: “It is no secret that a number of financial institutions and investors have become increasingly focussed upon the ports sector in recent months. It was clear from the outset of our discussions several months ago that we and RREEF share common ambitions, determination and values.”