Record year boosts Belfast’s future

The Harbour’s Annual Report revealed that turnover rose by 30% to £50.3m, while operating profit also rose by 42% to £26.2m during 2013. During the same period, the Harbour also paid over 36.6m in tax.

Tonnages handled during 2013 also spiked by 16% to 22.7 million tonnes. The growth in trade was also good in sectors such as dry bulk cargo (up 45%), which is closely related to the island’s agro-food industry, and ro-ro (up 8%). The Harbour’s offshore wind energy facility also saw trade grow significantly from 2,000 to 200,000 tonnes.

“Much of 2013’s growth was secured by investments totalling £100m by the Harbour in three sectors – renewables, dry bulk and freight,” said Len O’Hagan, chairman.

These sectors have benefitted from long-term investment in new marine infrastructure such as enhanced deep-water facilities and its new £53m offshore wind energy terminal – the first in the UK and Ireland. The 50-acre facility is currently leased to DONG Energy and ScottishPower Renewables, and has completed its first full year of operations.

Now, the Harbour says it’s committed to supporting the ongoing regeneration of Belfast Harbour Estate as part of the ongoing capital expenditure, which has “enabled the Harbour to attract new customers, services and trades, and to support the ongoing regeneration of Belfast Harbour Estate”.

“Record levels of profit have enabled the Harbour to commit £60m towards further projects to benefit the local economy. This is necessary to accommodate a projected 68% increase in trade over the next 15 years and ensure that Belfast Harbour remains forward looking as the island’s most modern gateway to overseas markets,” Mr O’Hagan added.