Offshore growth triggers record results at port

GROWTH in work within the global offshore sector has triggered record results at the Port of Blyth for a third consecutive year.

The port has held its Annual Public Meeting to shine a light on rising revenues and record profitability, with turnover rising from £30.4m to £31.5m. Operating profit rose from £3.7m to £3.9m, while pre-tax profit increased from £3.3m to £3.6m.

It said its core port operating business proved to be the main contributor to the results in 2023, with the annual figures strengthened by success in its logistics, forwarding, export packing subsidiary and inhouse training services.

Unveiling its annual report to stakeholders, the port – which now has 52 businesses based on site connected to the clean energy sector – said it continued to excel as an offshore energy support base, mobilising two of the world’s largest offshore windfarms and providing significant vessel and onshore handling activity.

Other offshore energy activities included the handling of specialist subsea equipment, heavy project lifts and significant support for the decommissioning sector. Work included the decommissioning of the largest oil and gas topsides and jackets handled to date at the Battleship Wharf facility.

Martin Lawlor, chief executive of Port of Blyth, said: “I am delighted to announce yet another record year, reenforcing the port’s status as one of the UK’s leading offshore energy bases. The hard work and commitment of our team has been instrumental in achieving this success, and I am proud to see the port thriving and growing year on year.”

■ An article in yesterday’s Journal wrongly attributed record results at the Port of Blyth to the Port of Tyne, as well as wrongly attributing a quote to the port’s chief executive. We would like to apologise for both errors.