The Port of Tyne has recorded its biggest year on year growth to become the fastest-growing port in the UK, according to a new Department for Transport report.
The news came as shipping minister Stephen Hammond visited the port for a site tour.
Hammond heard how the port has achieved record growth, cargo volumes and profits for three years in a row.
Since 2009, cargo volumes at the Port of Tyne have more than doubled to 6.5m tonnes (the highest for 25 years); turnover has increased by more than half to £63m; cash flow has increased fourfold to £19m and profit before tax has grown more than fourfold to £12m.
In 2013, the Port retained its position as the number one UK car exporting port; (sixth in Europe), fourth largest coal port, the leading importer of wood pellet in Europe, and won the prestigious North East Business of the Year award.
Andrew Moffat, Port of Tyne, chief executive officer, and deputy chair of the British Ports Association, said: “We have achieved excellent results, breaking our own records three years running, and we have done this through major investment in infrastructure to ensure we are able to meet our customers’ needs and increase productivity and efficiency. We also have to acknowledge the efforts of everybody at the Port who have embraced change and delivered these great results.
“Going forward we have ambitious plans to develop our business. We updated the minister on our major development plans and outlined how we are putting in place the funding to ensure we are able to take advantage of the significant growth opportunities.”
Hammond added: “Today I saw for myself the impact the port is making, as well as their impressive plans for the future. I wish the team here every success with their plans and in building further on the port’s recent very strong performance.”
The Port also has best customer satisfaction levels, and silver standard Investors in People.