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Port of Tyne has record profits for third year

The Port of Tyne Credit: Port of Tyne

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.


Port of Tyne set for major expansion

Plans have been unveiled for a major expansion of the Port of Tyne.

The port wants to enlarge its facilities for importing wood pellets, with an investment of 180 million pounds.

The port development would create 900 construction jobs followed by 300 posts when the new development is up and running.

The pellets would be burned in power stations as an environmentally friendly alternative to coal.


Threat to Port of Tyne

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.

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