The Port of Tyne has announced record profits for the third year in a row. It has broken its own records with year on year growth since 2009. Turnover increased to a record £63 million.
A visiting cruise ship in the Port of Tyne Credit: ITV News
Bosses say an estimated £54 million has been brought to the region thanks to the growth of cruise and ferry passengers using the Port's International Passenger Terminal.
A view of the Port of Tyne from a visiting cruise ship Credit: ITV Tyne Tees
Cargo volume has almost doubled since 2009. Expansion plans announced earlier should create 1200 jobs.
"It is a significant investor in the region's economy"
Plans have been unveiled for a major expansion of the Port of Tyne on Tyneside.
The port is a significant investor in the region's economy, as well as championing the newly-emerging industries of green and energy renewable sources.
Ringtons Tea returns to the Port of Tyne after over 50 years. In a new contract with the Port of Tyne enough tea to brew 1.48 billion cups of tea per year will be shipped to the Port and 80,000 kilos will be delivered to Ringtons headquarters in Newcastle each week.
The Port of Tyne's cruise liner business, which employs hundreds of people, could be under threat from what's being described as an 'illegal' terminal on Merseyside.
It has led to demands today for Liverpool to pay back £9m pounds of European money - the grant was given to the city on the condition that cruises did not start and end in the River Mersey.
The MEP for the North East, says Liverpool's failure to comply with that condition means the city is breaking the law and jobs at the Port of Tyne could be affected.
