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Insider UK
Business
Hamish Burns

Aberdeen Harbour increases profits but warns green expansion is key to future

Aberdeen Harbour generated increased revenue last year of just over £38 million and a pre-tax profit of £19.6 million, according to the port's annual review.

Turnover for 2019 compared with £35.3 million and pre-tax profit of £16.6 million the previous year.

But fortunes in the north-east have dipped dramatically since then due to the downturn in oil & gas, and Aberdeen Harbour said that made its planned expansion as a clean energy hub more important than ever.

The port is pressing ahead with the remaining 30% of work on its South Harbour expansion at Nigg Bay.

Michelle Handforth, chief executive of Aberdeen Harbour Board, said: “The South Harbour is a unique opportunity for us to build our way out of these troubled times and to grasp the transformative opportunity that the development represents.

"It is key to opening up a new world of possibilities for the entire region and there’s no better opportunity to signify this new era than the launch of our first-ever digital annual review and our refreshed brand.”

Aberdeen Harbour's annual review for the 12 months to December 31, 2019, reveal:

  • 9,489 vessels arrived in port, including nearly 4,000 supply vessels for offshore oil and gas.
  • The Harbour generated more than £1.5 billion in GVA.
  • Over 166,000 ferry passengers travelled through Aberdeen Harbour on vessels operated by Serco NorthLink Ferries.
  • Freight services from Serco brought more than 168,000 heads of livestock through the port.

Alistair Mackenzie, Aberdeen Harbour Board’s chairman, added: “The last six months have been about as far from conventional as anyone could have imagined but it shows, more clearly than ever before, the need to accelerate the evolution of our business and regional economy.

"Our new review outlines our purpose, and our ambitions, as we remain committed to creating prosperity for future generations and being the best catalyst for business, trade and energy transformation in Scotland.”

Aberdeen will be one of two EcoPorts in Scotland, and this year says it will source 100% of its energy from clean sources, introduce its first electric vehicles and invest more than £300,000 in replacing more than 700 lights with LEDs to reduce consumption by 54% every year.

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