Profits up as cargo levels rise at Milford Haven port

THE Port of Milford Haven has revealed a strong performance in its latest annual results that were published this week.

The business recorded a profit before tax of £4.4m in the year to 31 December 2015, up from £2.4m the year before, with the port experiencing net growth in cargo volumes, up by over 10% on 2014 levels, at 37.8 million tonnes.

The Valero oil refinery at Pembroke remained consistently busy and the Port benefited from a continued increase in volumes of liquefied natural gas (LNG). The storage terminals at SemLogistics and Puma Energy also saw reasonable levels of activity.

Chief executive at the Port of Milford Haven, Alec Don, welcomed the results.

“Not only has the port remained busy, it has also attracted new business to the area,” he said.

“We have continued to invest in both services and facilities to ensure we can maintain the port’s status as the UK’s biggest gateway for seaborne energy products. Considerable praise must go to our staff. Their skill and dedication has kept the port running efficiently and effectively,” he added.

Investment in operations upriver at Pembroke Port also yielded results.

The port remained South Wales’ largest and most successful ferry terminal, and it also attracted a new contract to handle and ship out refuse-derived fuel to Sweden.

The diversification strategy to attract manufacture and maintenance contracts for marine renewables took a leap forward at the end of 2015 with the deployment of Tidal Energy Limited’s prototype device, DeltaStream, which was constructed in the port.

The Port of Milford Haven also owns and operates Milford Dock and Marina, which is the base of Wales’ largest fishing port. Planning approval for a wholesale redevelopment of the area was secured in 2015, paving the way for further investment and modernisation.

“Last year saw significant improvements both in the water, with new lock gates bringing significantly enhanced and shortened passage times into and out of the docks and marina, and by the water with new fish handling and processing facilities,” said Mr Don.

“Across the docks we have laid the foundations for comprehensive development that will see new retail and visitor attractions built. In turn, this will generate jobs and encourage further inward investment.

“We are investing for the future. However, this can only be achieved through close collaboration with partners and in a business environment that makes it