Port of London trade down in 2012
Trade through the terminals and cargo handling facilities on the tidal Thames fell by 10% to 43.7 million tonnes during 2012, the Port of London Authority (PLA) has announced.
The principal reason for the reduction of 5.1 million tonnes year-on-year in port trade was the closure of the Coryton oil refinery at the end of May.
The volumes of unitised (container) cargoes, cereals and biomass all increased, while the volume of all other types of cargo reduced.
PLA Chief Executive Richard Everitt said: “2012 was a tough year for trade on the river. The closure of the Coryton terminal, one of the largest cargo handling facilities on the river, was compounded by limited growth or declines in other cargoes.”
The medium term prospects for trade on the river nevertheless look very strong, he continued, as the main benefit of having a terminal on the Thames — proximity to the UK’s biggest consumer market — continues to attract major investment.
During 2013, Coryton is expected to re-open under new owners as an oil products import facility, the London Gateway container port will open, work will be well underway at the Port of Tilbury’s London Distribution Centre, and Stolt Neilsen will be developing a facility at Dagenham.