Resilient Port ready for 'choppy waters'
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A successful year for Inverness Harbour has left the trust port in a strong position to negotiate the choppy waters of Brexit and the post-pandemic economy.
The annual report for Inverness Harbour Trust, which was delivered online by chief executive Sinclair Browne, covered the financial year ending March 31, 2020, just after the country entered lockdown.
Although turnover was slightly down on the previous year at £1,474,000, resulting in a reduced surplus of £270,000, Mr Browne said this showed a return of just over 15 per cent, which represented an excellent achievement.
Operational costs were in line with budget and the report also indicated a substantial reduction in long-term liabilities by almost a half (47 per cent).
A total tonnage of 647,187 passed through the port.
Of this, exports accounted for 489,266 tonnes with 160,750 tonnes in imports, with timber and timber products the most common cargo.
Other significant cargoes included road salt to supply both Highland Council and BEAR Scotland and fuel.
The harbour was also continuing to diversify with cruise ship visits. Visitors over the year included the 68 metre expedition cruise ship The Variety Voyager, which made Inverness its northern base for her entire summer season, and tendered visits from Le Champlain and RCGS Resolute, the latter on a golf cruise round the UK.
Although the report did not cover the impact of the coronavirus crisis on the harbour and its operations, Mr Browne said: “During the last week of our financial year the country went into lockdown and as a result, we had to considerably alter our financial and operational plans.
“It is beyond the scope of this review to comment fully here, but I am hugely grateful to all our staff for their response.”
Port of Inverness chairman Angus Mackenzie, who will step down from the post in January, also commented on the implications of the coronavirus crisis.
“While the full impact of both the global pandemic and the UK’s departure from the EU remain to be felt, our response to date assures me that the port will confidently negotiate any choppy waters,” he stated.
