ABP, Thor Shipping Ink New 10-Year Contract
- Business & Finance
Port operator Associated British Ports (ABP) has announced a new agreement which sees Thor Shipping & Transport commit 10 years to the Port of Hull.
In addition, ABP has invested GBP 6 million (around USD 7.7 million) into Thor’s 10-acre leased terminal, allowing substantial infrastructure improvement works and an additional 2.5 acres of container storage space.
As part of this investment, a hybrid GBP 3.5 million Liebherr harbor crane will arrive in March 2019 to bolster eco-friendly operations, the port said.
Since July 2014, Thor has trebled its tonnage through the two-berth terminal on King George Dock. It has a regular container and breakbulk service from its own shortsea operator – Sunline – connecting the UK with the East Coast of Sweden twice a week.
The company also facilitates vessels three times a week to Zeebrugge and a breakbulk liner service every fortnight from Finland and Iceland.
“This agreement shows that both ABP and Thor are confident in committing to support the Humber region for a substantial amount of time, so much so, it’s double the length of the previous contract agreed in 2014,” Chris Green, ABP Port Manager for Hull and Goole, commented.
This year, Thor hopes to see its strongest performance yet and expects to handle one million tons of cargo. In addition to containers, Thor’s other core business concerns steel and timber which boost the efficiency of the operation and reduce carbon footprint.
“We look forward to continually building upon our international trade and transport links, helping to put the Humber on the map as a key gateway for trade. It will enable us to realise and sustain future growth opportunities,” Thomas Bryan, Thor Shipping and Transport Managing Director, said.