Portsmouth-based port operator Portico helps support £7.5bn worth of trade
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“Portico helps support Portsmouth's position as one of the UK's leading marine and maritime cities and this report demonstrates the economic value of this council-owned organisation. Securing Solent Freeport funding will allow rapid transformation so it can continue to contribute significantly to UK trade by optimising space across the site to manage more goods.”
Portico, the cargo operator and logistics specialist based at Portsmouth International Port, helps to support £7.5bn worth of trade, announced in a report to Portsmouth City Council's Cabinet on Tuesday 10 February.
Figures gathered by independent experts Oxford Economics, show that cargo volumes amounted to 2.9m tonnes and included the following items:
- £2bn power generators
- £0.8bn road vehicles
- £0.6bn transport equipment
- £0.6bn fruit and vegetables
- £0.6bn industrial machinery
The report highlighted that activity through the port, which Portico supports, contributes £400m to the national economy and £195m locally.
Portico handles lift on lift off (LoLo) cargo through its shipping services, the logistics arm helps to manage transport, freight forwarding and customs clearance, and its port services division looks after berthing and mooring services for the international port and its ferry operations.
Steve Williams, Portico Managing Director said: "The report shows the vital service Portico helps to provide by keeping goods coming through the port and the value it brings to the national economy.
"As a global operator we are responsible for handling cargo from across the world, which ranges from fresh produce to building supplies, large project cargo pieces, industrial goods and grain products."
"We have expanded our container and general cargo handling capabilities, which has lead to a growth in general cargo, which continues to grow in line with global supply chain patterns."
"Our successful Solent Freeport seed funding will help the region’s plan to grow global trade and investment by allowing us to significantly develop the site, with a view to attracting more business and supporting the freeport’s aim to provide quality jobs for local people."
“We’re also focussed on providing greener logistics as the industry expects modern cargo handling, so our project includes investment in this priority area to replace outdated facilities."
"All combined demonstrate the importance of Portico and the range of services we provide to keep trade flowing."
Portico has been investing in specialist equipment such as cranes that can operate tandem lifts up to 250 tonnes, which means it has the ability to accept significant large scale items. They also have a range of warehouses able to store fresh produce at temperature controlled levels, reinforced flooring for heavy items, and high ceilings to accommodate large volumes of goods.
Cllr Steve Pitt, Leader of Portsmouth City Council said: "Portico helps support Portsmouth's position as one of the UK's leading marine and maritime cities and this report demonstrates the economic value of this council-owned organisation."
"Securing Solent Freeport funding will allow rapid transformation so it can continue to contribute significantly to UK trade by optimising space across the site to manage more goods."
"Portico also employs a high number of people from the local area, providing career opportunities in the ports industry and local supply chain."
"Famed for its fresh produce credentials, Portico provides much more and this economic impact shows the benefit continued investment has brought and the opportunities that lie ahead for the company as it diversifies."
