ABP TO INVEST £3.7 MILLION IN NEW CRANAGE AS HUMBER INTERNATIONAL TERMINAL 1 LANDS NEW COAL HAUL
Associated British Ports (ABP) is set to invest £3.7 million in new cranage for Humber International Terminal 1, the dedicated dry bulks-handling terminal at its Port of Immingham, following the signing of a new five-year agreement with Hargreaves Group (Hargreaves), the raw materials import and distribution specialist.
The agreement, which will see Hargreaves significantly increase the volumes of coal it currently imports through Immingham from South America and Russia for the UK power-generation industry, will take effect in September of this year. The agreement also includes the leasing of storage space to Hargreaves at the western end of the port.
ABP is investing £3.7 million in two new cranes, including a £2.6 million rail-mounted crane, to handle the additional 400,000 tonnes of annual throughput the new agreement will generate at Humber International Terminal 1. Combined, Humber International Terminals 1 & 2 are capable of handling 12-13 million tonnes of cargo every year.
This is the first major new agreement to be signed since Humber International Terminal 2 was officially opened at the end of May this year by HRH The Princess Royal. The terminal, which was built at a cost of £59.5 million, is the single largest project ever to be undertaken by ABP. The extra capacity provided by Humber International Terminal 2 has enabled her sister terminal, which was opened in 2000, to receive additional tonnage.
Nick Palmer, ABP Port Director for Grimsby & Immingham, said that the agreement is a positive sign for the terminal’s future:
“This agreement was made possible by our investment in extending Humber International Terminal. And it is by working with quality customers, such as Hargreaves, that we can confidently look to a bright future for the terminal and the port.”
Hargreaves has been importing coal through Humber International Terminal 1 since 2003. In October 2004, it saw its throughput increase significantly, and this has continued to grow.
Gordon Banham, Chief Executive of Hargreaves, said:
“Our trading relationship with ABP is an important part of our aim of becoming the leading UK importer of carbon products. The opening of Humber International Terminal 2 provides enormous opportunity for Hargreaves to grow significantly its business at Immingham on the back of surging demand for coal from the UK’s power-generation industry. In concluding the deal, we are grateful for the support of the team at ABP Immingham, especially Nick Palmer and [Deputy Port Manager] Simon Brett.”
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