Forth Ports 2010 Container Volume Falls 7 Percent

Forth Ports said Tuesday its Scottish ports and a flagship container terminal near London were performing in line with expectations despite severe weather conditions that have snarled transport across northern Europe in the past week.

The UK ports operator’s six Scottish ports have boosted tonnage from a year ago despite a 4 percent drop in liquid bulk and a 7 percent decline in container traffic at Grangemouth, the Edinburgh-based company said in a December trading statement.

The Tilbury terminal near London has also improved on its 2009 performance with roll-on, roll-off shipments, dry bulk and forest products booking "good" increases.

By The Numbers: North America - Europe Eastbound Container Trade.

Container traffic at Tilbury improved in the second half of the year but remains slightly lower in volume terms than in the same period in 2009.

The full year performance at Tilbury Container Services, in which Forth Ports has a one third share, will be "significantly better" than in 2009 with volume up over 10 percent.

Forth Ports handled 22.3 million metric tons of cargo in the first half of 2010 down from 24.2 million metric tons a year ago but boosted operating profit 19 percent to $35 million from $29.5 million.

The company, which thwarted a $990 million takeover by major shareholders earlier in the year, also operates recycling and property businesses, and has submitted planning applications for onshore wind installations and biomass facilities at its Scottish ports.

-- Contact Bruce Barnard at brucebarnard47@hotmail.com.