Energy burst beckons for Port of Tyne
Andrew Moffat says Port of Tyne, while facing up to a more difficult trading period, it is also preparing for clear opportunities ahead.
I TOOK over as chief executive of Port of Tyne last November, having first arrived there as finance and commercial director the previous year from a very different background – the fast-moving mobile telecoms sector.
The Port of Tyne – which comprises bulk and conventional cargoes, car terminals, cruise and ferries, logistics, and estates – has acquired a well earned international reputation for quality service, and a uniqueness in that all are provided “in-house” by the port’s own highly-skilled staff.
As one of the UK’s largest trust ports, it often carries a misconception that the Port of Tyne receives government funding. Nothing could be further from the truth. While the port’s navigation and conservancy responsibilities are regulated by the Department of Transport, the business is run on a totally independent and sound commercial basis.
I believe the current economic climate is a positive driver to explore different ways of doing business without compromising quality. A recession provides time – time to look at strengthening internal structures and processes, time to look for new suppliers, and time to capture new business.
The well reported decade of investment, both in equipment and infrastructure, has given the port a growing asset base to take advantage of new opportunities. However, a larger asset base costs more to maintain and puts pressure on the business to continue to identify and exploit new growth opportunities. Doing nothing but waiting until the recession ends is not an option for us.
Growth opportunities continue to exist and plans to extend our operations by creating more land are already underway. We shall achieve this by recycling the spoil from the construction of the second Tyne Tunnel to infill Tyne Dock, an option not only environmentally sound but also cost-effective.
Also, we are looking to gain a further foothold in the energy market, with both existing and new customers with exciting opportunities in the areas of renewable energy, such as biomass and wind, being assessed and developed.
We take our corporate and regional responsibilities seriously and the Port of Tyne International Passenger Terminal, home to our cruise and ferries business, is one of the region’s three international gateways and an important sea route to northern Europe, the Baltic, and Scandinavia.
It is also another area which has recently undergone change with the recent transfer of nine operational staff from DFDS Seaways to the Port. This has not only strengthened our quayside operations, and maintained employment, but puts us in a stronger position to attract more ferry operators to the region and, potentially, new routes from the Tyne.
During this difficult economic climate, we have embarked on a review of how we do business and are identifying ways we can perform more effectively and efficiently. We shall continue this momentum of internal change so that we are ready for the opportunities ahead and achieve our aim of creating a vibrant, sustainable Port of Tyne.
Andrew Moffat is chief executive of the Port of Tyne.
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