Port of Aberdeen has announced a “strong financial performance” for 2024, reinforcing its role as a catalyst for sustainable economic growth “and a key driver of energy transition.”
In its first full year of operations since opening the new £420 million Aberdeen South Harbour, strong revenue performance combined with “careful cost management” continued to drive growth.
Turnover in 2024 increased 10.5% to £50.7 million, vessel arrivals increased 2.6% to 7,128, vessel and cargo tonnage increased 4.3% to 30.8 million tonnes, and ferry passenger numbers increased to 207,318 up 2.8%.
As a Trust Port, all profits are reinvested into the port’s development.
Roy Buchan, Chair, Port of Aberdeen, said: “The port exists for the benefit of our stakeholders – from the local community and customers to those leading the country – and these positive relationships are essential to our success. We look forward to building on our achievements and sustaining this momentum into 2025 and beyond.”
The port’s diversification strategy continued in 2024. Cruise traffic totalled more than one million gross tonnes of vessels for the first time, bringing more than 24,000 guests to the region. Large volumes of cargo crossed the quayside and the North Sea’s largest subsea isolation valve – weighing 440 tonnes – was decommissioned at South Harbour.
Port of Aberdeen CEO Bob Sanguinetti said: “Success in a highly competitive market is hard-earned. These projects rely on meticulous planning and the commitment of our skilled team to deliver a safe, high quality, and responsive service to our customers. While this new operational landscape is exciting, it also remains uncertain, and this uncertainty shapes our outlook for 2025 and beyond.
“While our foundations are strong, the market is changing. Oil and gas activity – which accounts for almost two thirds of our revenue – is being impacted by the Energy Profits Levy and wavering investor confidence, while delays to consenting and grid connections are affecting timelines for offshore wind.
“With the right policy and investment support, we can become an international hub for offshore wind …
“Against this backdrop, we see significant opportunities ahead. With the right policy and investment support, we can become an international hub for offshore wind – supporting the accelerated growth of this key sector whilst continuing to support existing customers to develop and grow their business.”