Historic Port of Aberdeen docks record 2023 financial results, buoyed by expanded South Harbour

Vessel arrivals were up 2 per cent to just under 7,000, and ferry passenger numbers grew by 11 per cent to about 180,000. Picture: contributed.

“We welcomed large jack-up rigs, cargo vessels, and cruise ships that would have previously sailed by the city,” says chief executive.

Port of Aberdeen, which lays claim to being the UK’s oldest existing business with a history dating back to 1136, has cheered a “record-breaking” 2023 financial performance, buoyed by the expansion of its South Harbour that completed in August.

The organisation has also alongside the figures called for further support from the public and private sectors to “achieve the full potential of the expanded port”, which it says could support 17,500 jobs and boost the economy by £2.4 billion. The port earlier this year said Aberdeen could be hosting 100 cruise ships a year by 2027.

Its turnover last year increased to £45.9 million, up 17 per cent from 2022, with operating profits reaching £25.7m, an increase from £21.3m, and noting that as a trust port, all profits are reinvested into its development. Vessel arrivals were up 2 per cent to just under 7,000, vessel and cargo tonnage jumped 6.5 per cent to 29.5 million tonnes, and ferry passenger numbers grew by 11 per cent to about 180,000.

Port of Aberdeen boss Bob Sanguinetti said: “South Harbour was pivotal to delivering a record financial performance in 2023 as we welcomed large jack-up rigs, cargo vessels, and cruise ships that would have previously sailed by the city. Our focus now turns to consolidating business with existing customers, and securing opportunities to further diversify and grow in energy, trade, tourism.”

The port added that it progressed at a rate of knots in its bid to become the UK’s first net zero port by 2040, cutting its Scope 1 and Scope 2 emissions by a quarter year on year. It also said it was the only UK port to feature in three of the ten projects in the Department for Transport’s inaugural Zero Emissions Vessels & Infrastructure competition.

Sanguinetti has also now said: “We have invested almost half a billion pounds to ensure Aberdeen is world-class port that creates prosperity for generations. Incentives, investment, and supportive legislation will ensure that Aberdeen, along with ports across the country, can play their part on the road to net zero... we are ideally positioned to partner with our public and private sector partners.”