Montrose Port up 34% as offshore wind booms

Montrose Port Authority CEO Tom Hutchison

Montrose Port Authority (MPA) has announced a 34% rise in revenue — the “highest revenue outcome ever achieved by the port.”

The port said its performance in the 2022-23 financial year saw a 10% rise in vessel numbers and 31% upturn in gross tonnage.

“Noteworthy amongst these achievements is the emerging offshore wind sector, which contributed 22% of total vessel revenue for the year,” said MPA.

“The port, which is ideally located to serve this sector’s needs on the east coast of Scotland, has witnessed a burgeoning offshore wind industry within its neighbouring waters in recent years …

“The port directly and indirectly sustains 384 permanent, full-time employees, generating £13.6m in annual salaries and £25.7m net GVA to the regional economy.

“At a national level, these numbers magnify contributing £16.9m in net income effects and £36.4m net GVA to Scotland.”

Neil MacCallum, MD of Beaver Economics, which conducted an economic impact study for the port, said: “These figures are robust estimates based on information from companies who work within and with the port directly and I’m confident they represent a strong, conservative quantification.

“I’m even further confident that these figures have increased in the last six months with the arrival of new companies on the port estate.

“We have a strong baseline to track future impacts, especially as the port and the businesses it works with continue to grow and contribute more.”

Montrose Port Authority CEO Tom Hutchison, said, “Our exceptional growth and achievements over the past year are a testament to our dedication and strategic vision.

“We have not only surpassed our forecasts but also solidified our position as a key player in the offshore wind sector and been able to create valuable job opportunities for our region.

“We’re not just expanding as a port; we’re expanding as a source of livelihood for our community. Our commitment to investing in both our infrastructure and community remains unwavering, ensuring that Montrose continues to thrive as a hub of economic activity, growth and innovation.”

Angus Council leader Beth Whiteside said: “The remarkable growth that Montrose Port Authority has seen over the past year highlights the port’s positive and proactive impact on our local economy, both in the Montrose and the broader Angus area.

“Its impressive economic contribution further showcases Montrose’s pivotal role as a catalyst for prosperity and innovation.

“In congratulating the Montrose Port team on these accomplishments, we look forward to the continued benefit they bring to our region and to providing our support for the work that they do.”