Obsession with the South is suffocating British PLCs

“Lending against speculative investments in infrastructure can generate the returns you expect,” he said. [but] Maybe not.

90% of container cargo enters the UK via Hutchison Ports-owned Felixstowe and Southampton and DP Worlds London Gateway. But 60% of them end north of the line between the Severn and Wash.

Mr Huck said: This makes sense for the dominant players among global container lines, large port operators and train operators, but not for countries in terms of customer costs, carbon emissions or traffic congestion.

The Victorians were right

The change in container flows marks a return to the historical balance of Liverpool becoming the second port of the 19th century empire, a situation which prevailed until the early 1970s.

The original container ports in the UK were at Tilbury and Liverpool, but gradually moved to the largest ships in the 1980s and 1990s with the opening of Felixstowe, followed by Southampton and finally It was followed by London Gateway in 2013.

Mr Huck said: The Victorians were right. There was London and there was Liverpool. If you want to move cargo to the point of consumption, this is still the most efficient model.

So far there is little sign that the government is embracing this message. It was the government's desire to expand port capacity in the south-east that led to its humiliating decline last month.

Transport Secretary Louise Haigh called DP Worlds P&O Ferries a rogue operator and called for a consumer boycott, but DP responded by threatening to delay its $1 billion investment in London Gateway. This forced Sir Keir Starmer to reject Haigh's comments in favor of holding a key summit designed to show Britain is open for business.

Peel Ports acquired Liverpool in 2005 with the $770 million purchase of Mersey Docks and Harbour. At the time there was a single terminal at Seaforth at the mouth of the River Mersey. The port's size doubled in 2016 with the opening of a second terminal stretching 400 meters down to the river.

The new terminal was expanded in 2020 and features state-of-the-art handling equipment, including rail-mounted gantry cranes capable of unloading vessels as wide as 20 containers.

Terminal 1, meanwhile, specializes in offshore and intra-European shipping, as well as the transatlantic market, where ships tend to be smaller than those used on Asian routes.

Mr Huck said: It's as good as you'll find anywhere in the UK, but although we've seen storage increase, it's still about a third utilised. So you have the ability to do other things.

Liverpool currently handles approximately 800,000 TEUs of 20-foot equivalent units per year, the standard measure for the container market, with a capacity of 2 metres. Felixstowe covers 3.3m, Southampton covers 1.8m and London Gateway covers 1.5m.

One argument in favor of maintaining the status quo is that established shipping routes from East Asia cross the English Channel to ports such as Rotterdam and Hamburg, making stops at locations such as Southampton or Felixstowe more convenient than Liverpool. .

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