Belfast Harbour: Profit up and trade volume down at port

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Belfast Harbour: Profit up and trade volume down at port
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The total tonnage through Belfast Port in 2022 was the second-highest level in its history.

Underlying pre-tax profit at Belfast Harbour rose by 1% to £34.3m in 2022 though trade volume fell 4.3% from their record highs.

Total tonnage through the port was 24.5 million tonnes, representing the second-highest level in its history.The harbour said the 2022 performance was robust "despite a challenging global trading environment". Dr Theresa Donaldson, the chairwoman of Belfast Harbour, said: "The strong results demonstrate the resilience and effectiveness of our Trust Port model, which enables us to reinvest our profits back into the development of our port and estate."Official data for all ports in Northern Ireland, which was released earlier this year, showed that roll-on roll-off freight, which is how most consumer goods are transported, increased by 19% to 16.2 million tonnes.

The fall in dry bulk likely reflects reduced imports of coal for power generation and possible changes in behaviour by businesses in response to soaring inflation.Those trends are also evident in the Belfast Harbour results which show roll-on roll-off freight on Stena Line performed strongly, recording 600,000 freight units matching the record performance delivered in 2021.

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