BELFAST Harbour has reported a record financial year, with £132 million worth of future investment planned, which could create over 8,000 jobs.
In its latest financial results Belfast Harbour reported a 6.5 per cent rise in turnover to £61.9m, while operating profit grew by 5.6 per cent to £34m in the year to December 31.
The growth in turnover and profits was supported by a 3 per cent increase in port cargo handled to a record 23.7m tonnes, and additional income from the Harbour’s successful property developments in its City Quays river front offices and AC Marriott Hotel, plus new Film Studios on the North Foreshore.
During 2017 the Harbour invested £42m in new port facilities and regeneration developments across its 2,000 acre estate and further capital investment plans in Belfast total £132m. They include the £60m upgrade of the port’s ferry and container handling facilities, as well two developments at City Quays - a new 900-space multi story car park, currently under construction and a 50,000 square foot Grade A office building, which is awaiting final planning approval.
The planned upgrade of ferry terminal facilities is in support of a major investment by Stena Line in new larger Roll-On/Roll-Off ferries, due to start operation on Belfast routes in early 2020. Belfast Harbour is also making a substantial investment in new cranes and terminal capacity improvements at the port’s container terminal. This terminal handles direct shipping services between Belfast and the key European hub ports of Rotterdam and Antwerp, and provides global connectivity for Northern Ireland’s exporters and importers.
Belfast Harbour chairman, David Dobbin said continued investment is a crucial factor in growth at the port.
"This ongoing investment cycle has been key to our financial success and has allowed us to support the growth in trade and passenger/visitor numbers, and the creation of quality new jobs across our estate.
“We estimate that our current investment programme will generate over 10,000 jobs. Over 2,000 jobs have already been delivered in the City Quays offices and hotel developments, and the Harbour Film Studios.”
Joe O’Neill, Belfast Harbour’s CEO, added:
“A key factor in the success of Belfast Harbour is the ongoing growth in port throughput in sectors such as aggregates, steel, animal feeds and grains, Roll-On/Roll-Off freight, ferry passengers and cruise ship visits. Port operations account for c.80 per cent of turnover and the continued delivery of best-in-class marine facilities remains our investment priority.
"The Harbour’s real estate activities also are delivering ongoing growth. As trade in traditional sectors such as coal and refined oil reduce, we will continue to explore new trade opportunities, alongside those in real estate and tradeable services."
During 2017, 5,874 ships arrived at Belfast Harbour carrying over half a million freight vehicles through the port, while passenger numbers rose by 9 per cent to 1.5m.
The port welcomed 155,000 cruise passengers , while agri-food related trade saw a 10 per cent to almost 2.3m tonnes
