the great asset stripDOCKLAND in Hartlepool could become the place where offshore wind farms are assembled.The news was revealed by bosses at PD Ports, just hours after the company's future was secured in a major deal.PD Ports yesterday (22nd November, 2009) completed the sale of 100 per cent of its equity to Canadian-based Brookfield Asset Management. What this means in practice to the continuation of Hartlepool as a port is somewhat less certain.What does seem clear is the interest of PD Ports in Hartlepool is now largely based on the use of port land for industrial and development purposes. The actual operation oh Hartlepool as a working port appears to have diminished in importance.Brookfield Asset Management. is precisely that - an asset management company. It buys up companies with both eyes firmly fixed on the assets of those companies. In the case of the Hartlepool operation of PD Ports, those assets consist largely of the amount of land owned. Beyond its traditional role as a fishing port, Hartlepool did not develop into a port of any significance until the 1830s when the need to export coal from the north east coal fields grew. This was quickly supplemented by an expanding ship building industry. Those two reasons, which were in effect the reasons for the port’s very existence have now entirely disappeared.The port has struggled on for several years being used for the import and export of various cargoes from cars and timber to scrap metal. The spin is in full swing following the latest take-over with Docks Chiefs saying the change brings stability - whatever that means. “We can now start thinking about future development and that could mean Hartlepool playing a greater role in the offshore wind farm industry.”The clue as to what is to come can be found in the words of Group Chief Executive Officer, David Robinson who recently said: "Hartlepool as a port continues to perform extremely well. We want to grow Hartlepool and develop the port and start to bring the land into play. Hartlepool, as a port operation, has a number of opportunities in the offshore sector, particularly in wind farms, in the erection of wind farms - both in the assembly and the shipment of them, particularly wind farm development in the North Sea".The plans are all a little vague and Mr Robinson could not be specific on any planned projects but he more or less confirmed that growth in the port itself would be dependant upon and secondary to other developments on PD Ports land. "In terms of jobs at the port, yes there will be growth but our role is facilitating the growth to allow port growth as well."He said companies such as Hereema and JDR Cables, both based at Hartlepool's port, were examples of success stories already existing in town.PD Ports employs over 1,140 members of staff, generates an annual turnover of over £120 million and has operations throughout the UK including at Hartlepool, Teesport, Humberside and Felixstowe.Up until relatively recently, the port of Hartlepool was in public ownership eventually coming under the auspices of the Tees and Hartlepool Port Authority, itself a publicly owned body. However, the authority was dissolved on 31st March, 1994 as part of the then Government’s strategy to sell off many publicly owned assets to the private sector. This allowed the sale of the Port Authority to P.D. Ports which was part of the Babcock & Brown Group. As with other privatisations, the monies raised from the sale went directly to the Treasury. No legal provision was made to ensure the continued maintenance of the Breakwater.From the beginning, PD Ports concentrated their efforts on Teesport, now the third largest port in terms of tonnage in the UK. Teesport can boast of its role as an extensive oil and chemicals terminal, as an import facility for the Redcar Steel Complex as well as an importer and exported of many goods and materials. The company hopes to develop Teesport as a major container port which, if plans go ahead, will rival Felixstowe.However, its main interest in Hartlepool centres around the land that it inherited and the capitalisation of that land. The company is a leading partner in the proposed development of Victoria Harbour - a development which has now largely stalled through lack of finance. However, the development provides a strong clue as to where PD Ports as a company sees its main interest in Hartlepool - not as a port operator but as a landlord accruing income from the sale and leasing of land.contactssite mapwrite for us
the great asset strip
DOCKLAND in Hartlepool could become the place where offshore wind farms are assembled.
The news was revealed by bosses at PD Ports, just hours after the company's future was secured in a
major deal.
PD Ports yesterday (22nd November, 2009) completed the sale of 100 per cent of its equity to Canadian-
based Brookfield Asset Management. What this means in practice to the continuation of Hartlepool as a
port is somewhat less certain.
What does seem clear is the interest of PD Ports
in Hartlepool is now largely based on the use of
port land for industrial and development purposes.
The actual operation oh Hartlepool as a working
port appears to have diminished in importance.
Brookfield Asset Management. is precisely that -
an asset management company. It buys up
companies with both eyes firmly fixed on the
assets of those companies. In the case of the
Hartlepool operation of PD Ports, those assets
consist largely of the amount of land owned.
Beyond its traditional role as a fishing port,
Hartlepool did not develop into a port of any
significance until the 1830s when the need to
export coal from the north east coal fields grew.
This was quickly supplemented by an expanding
ship building industry. Those two reasons, which
were in effect the reasons for the port’s very
existence have now entirely disappeared.
The port has struggled on for several years being used for the import and export of various cargoes from
cars and timber to scrap metal.
The spin is in full swing following the latest take-over with Docks Chiefs saying the change brings stability
- whatever that means. “We can now start thinking about future development and that could mean
Hartlepool playing a greater role in the offshore wind farm industry.”
The clue as to what is to come can be found in the words of Group Chief Executive Officer, David
Robinson who recently said: "Hartlepool as a port continues to perform extremely well. We want to grow
Hartlepool and develop the port and start to bring the land into play. Hartlepool, as a port operation, has
a number of opportunities in the offshore sector, particularly in wind farms, in the erection of wind farms -
both in the assembly and the shipment of them, particularly wind farm development in the North Sea".
The plans are all a little vague and Mr Robinson could not be specific on any planned projects but he
more or less confirmed that growth in the port itself would be dependant upon and secondary to other
developments on PD Ports land. "In terms of jobs at the port, yes there will be growth but our role is
facilitating the growth to allow port growth as well."
He said companies such as Hereema and JDR Cables, both based at Hartlepool's port, were examples
of success stories already existing in town.
PD Ports employs over 1,140 members of staff, generates an annual turnover of over £120 million and
has operations throughout the UK including at Hartlepool, Teesport, Humberside and Felixstowe.
Up until relatively recently, the port of Hartlepool was in public ownership eventually coming under
the auspices of the Tees and Hartlepool Port Authority, itself a publicly owned body. However, the
authority was dissolved on 31st March, 1994 as part of the then Government’s strategy to sell off
many publicly owned assets to the private sector. This allowed the sale of the Port Authority to P.D.
Ports which was part of the Babcock & Brown Group. As with other privatisations, the monies raised
from the sale went directly to the Treasury. No legal provision was made to ensure the continued
maintenance of the Breakwater.
From the beginning, PD Ports concentrated their efforts on Teesport, now the third largest port in
terms of tonnage in the UK. Teesport can boast of its role as an extensive oil and chemicals terminal,
as an import facility for the Redcar Steel Complex as well as an importer and exported of many
goods and materials. The company hopes to develop Teesport as a major container port which, if
plans go ahead, will rival Felixstowe.
However, its main interest in Hartlepool centres around the land that it inherited and the capitalisation
of that land. The company is a leading partner in the proposed development of Victoria Harbour - a
development which has now largely stalled through lack of finance. However, the development
provides a strong clue as to where PD Ports as a company sees its main interest in Hartlepool - not
as a port operator but as a landlord accruing income from the sale and leasing of land.
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