News

INVESTMENT PROGRAMME AT ABERDEEN HARBOUR RECEIVES FURTHER BOOST FROM RECORD ACTIVITY

Profits contribute to £57 million maintenance and development budget

The continuing redevelopment of Aberdeen Harbour has received another boost, with the port revealing a healthy pre-tax profit for 2007 following an earlier announcement of record levels of cargo and shipping.

Aberdeen Harbour Board Chairman, David Paton, said: "The continued growth in business last year underlines the port’s role in the economy and the considerable potential for further development. The Board have approved a £57 million five-year expenditure plan to ensure the harbour remains in the lead for modern facilities, efficient operations and cost effectiveness."

Main charges for 2008 were held at the previous year’s rates for the ninth time in 10 years.

As a Trust Port, all profits are reinvested in the development and maintenance of the harbour where the Board have undertaken projects totalling over £200 million in recent decades.

Annual turnover in 2007 climbed to a new high of £20.9 million (2006 - £20.1 million) and pre-tax profits held up well at £9.5 million (£9.03 million), while cargo reached 5.13 million tonnes and shipping over 24 million gross tonnes.

"This high level of activity closely reflected the buoyant local economy, driven mainly by a strong oil price and the continued commitment of oil and gas operators to invest further in the North Sea and beyond," said Mr Paton.

The Board’s ongoing programme of creating additional, modern fit-for-purpose facilities for users continued during 2007.

This included initiating a feasibility study for the redevelopment of the berths on the south side of the River Dee. Mr Paton commented: "If delivered, the new layout would provide deeper berths, with stronger quays and safer navigation within the River Dee. Offshore support vessels could be fully serviced at one berth during their visit, thus reducing vessel movements and improving efficiency, cost effectiveness and safety."