Following Peel Ports investment in the new deep-sea terminal in Liverpool. The group are looking to increase their market share of Transatlantic business.
I completely agree with the bullish attitude on this. Liverpool has historically been one of, if not the most, iconic port location in the UK and is ideally located to service such a demand.
With regards to incoming and external traffic, Liverpool is well placed not only to receive from the Atlantic but to also distribute across the UK and can also act as a corridor to service Northern Europe via the northern powerhouse transport links and ports on the East coast of the UK.
One thing is for sure, the Port market in the UK is competitive. Whilst Liverpool has invested, there is also development on-going in the South East. Although being less than ideal for the Atlantic trade, the draw to supply the London market is very attractive.
Private group Peel Ports has invested 400 million pounds ($510 million) in transforming Liverpool's existing facility into a deep-water container terminal that can receive bigger ships. The new development opened last month. Mark Whitworth, chief executive of Peel Ports, said Liverpool, on England's northwest coast, already had 45 percent of the UK's transatlantic trade and "there is no reason why our aspiration should not exceed 60 percent". ADVERTISINGADVERTISINGinRead invented by TeadsinRead invented by TeadsADVERTISINGADVERTISINGinRead invented by TeadsinRead invented by TeadsA number of companies have made investments in the region, including spirits giant Diageo and car maker Jaguar Land Rover - both of which were targeting bigger transatlantic trade, Whitworth said. Britain's decision to leave the European Union is also driving efforts to bolster trade outside the bloc.