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Port reports over £40m in revenue for the first time in its history

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IN the Port of Milford Haven’s 65th year, revenues exceeded £40m for the first time; closing the year at £41.3m. Despite a slight fall in shipping numbers (to 1,909) and cargo (to 34.7m tonnes), the marine division remained busy, safely shepherding 58.7m gross tons of shipping in some of the world’s most challenging sea conditions. Healthy trading for the Port’s cargo handling, property, and hospitality and tourism divisions also highlighted the success of its long-term growth and diversification strategies, helping boost this year’s strong financial performance which saw profits rise to £4.1m.
The Port of Milford Haven’s solid financial position comes at a key time as it looks to the future. The Port’s strategic growth and investment plans focus on expanding its world-class pilotage capability, developing infrastructure to become a leading renewable energy hub, and developing its hospitality offering, creating opportunities for today’s communities and for future generations.
The Port’s investment in a new (first-in-class) pilot boat during the year is a key step in supporting its pilotage growth ambition. It emphasises the Port’s focus on ensuring continued delivery of a world-class service for Waterway customers, and for supporting new shipping traffic associated with the hydrocarbon and renewables sector as it transitions and grows. The Port’s renewables growth strategy took a significant step forward during the year with the completion of new infrastructure; the enlarged slipway and new laydown areas, office facilities and workboat pontoons were part of the £60m Pembroke Dock Marine* project, with funding through the Swansea Bay City Deal and the European Regional Development Fund. The Port’s third strategic focus, on the hospitality and tourism sector, saw a great return on its investment to build the Ty Hotel Milford Waterfront with a strong performance in 2023, laying the foundations for further diversification and investment in this sector.
Notwithstanding a successful overall year of trading, the fishing and ferry related elements of the business continue to struggle with declining performance as a result of reduced demand.
Chief Executive Tom Sawyer said, “2023 has been a stand-out year for us, with record turnover and increased profitability. In keeping with our trust port status, we’ll be reinvesting our profits back into the business. This will translate into jobs and opportunities for our communities long into the future. We also completed major infrastructure projects, but that’s just the start of our plans. As part of a key energy and shipping hub, we’ll keep investing to ensure we continue to meet industrial demand. And our decision to diversify into hospitality and tourism has gone from strength to strength, enhancing our financial stability but also adding to the types of opportunities our community can enjoy.”

He added “Every day, I see shining examples in our communities of how all this investment could help them realise their full potential. I am excited by the boundless opportunities ahead for us all.”

Business

Secretary of State, Jo Stevens MP confirms Pembrokeshire’s role in green energy pilot

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SECRETARY OF STATE FOR WALES, Jo Stevens MP, was in Pembrokeshire today to confirm that the county will be part of a pilot project for green energy. Speaking to The Pembrokeshire Herald, she said: “I welcome the skills pilot in Pembrokeshire, calling it a crucial step in securing a workforce for clean energy expansion in the Celtic Sea.” Economy Secretary Rebecca Evans added: “This initiative, led by the Welsh Government, will unlock vast opportunities for green jobs and energy security.”

Secretary of State for Wales, Jo Stephens MP, speaking to The Herald at Ledwood Mechanical Engineering Ltd in Pembroke Dock (Image: Herald)

Thousands of workers will benefit from government-backed training as part of a major skills investment to prepare the UK for a clean energy future by 2030. Key regions, including Aberdeen, Cheshire, Lincolnshire, and Pembrokeshire, have been identified for growth in offshore wind, nuclear, and solar industries under the government’s Plan for Change.

The initiative will provide funding for local training centres, courses, and career advisors, equipping workers with skills in welding, electrical engineering, and construction. The government has also launched a long-awaited ‘skills passport’ to help oil and gas workers transition into renewable energy jobs, particularly offshore wind. Developed in collaboration with industry and the Scottish Government, the online tool will guide workers into roles such as construction and maintenance.

Funding to drive economic transformation

The government has allocated initial funding to Cheshire West and Chester, North and North East Lincolnshire, and Pembrokeshire, with around £1 million earmarked for each area. Aberdeen, which has already completed extensive skills mapping, will be considered for further funding later this year.

Energy Secretary Ed Miliband said: “Our Plan for Change is about more than clean power; it’s about reindustrialising Britain with well-paid, union jobs in industrial communities. We are ensuring that British workers seize the opportunities clean power brings.”

Acting Cabinet Secretary for Net Zero and Energy Gillian Martin highlighted Scotland’s commitment, stating: “It is vital that we support oil and gas workers in transitioning to sustainable jobs. The Energy Skills Passport ensures their expertise is recognised and applied in our fair and managed transition to net zero.”

Building a skilled workforce

Thousands of apprentices will be needed the Government says (Image RWE)

Research by Offshore Energies UK shows that 90% of oil and gas workers possess skills relevant to the clean energy transition. From January 22, workers can use the skills passport to access four career pathways, with further expansion planned over the next year.

The government has also confirmed contracts for the UK’s first carbon capture project in Teesside, reinforcing its commitment to transforming industrial heartlands. Employers will receive a handbook outlining available support for workforce growth and upskilling.

Industry and government backing

Welsh Secretary Jo Stevens welcomed the skills pilot in Pembrokeshire, calling it a crucial step in securing a workforce for clean energy expansion in the Celtic Sea. Economy Secretary Rebecca Evans added: “This initiative, led by the Welsh Government, will unlock vast opportunities for green jobs and energy security.”

Cheshire West and Chester Council leader Cllr Louise Gittins said the initiative would play a “crucial role” in transitioning workers to clean energy sectors. Midlands Net Zero Hub head Jack Hayhoe stressed that strategic skills investment could unlock £15 billion of economic growth in the next five years.

A roadmap to net zero

The Energy Secretary is convening a roundtable with industry, education, and trade union leaders to ensure the UK workforce is prepared for the clean energy transition. The regional skills funding comes from the Office for Clean Energy Skills Fund, with key partnerships supporting skills mapping and training development.

The Plan for Change aims to unlock £40 billion of annual investment, securing thousands of jobs and positioning Britain as a global leader in clean energy.

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Business

UK Government Invests in Gigabit Broadband for South West Wales

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THE UK GOVERNMENT has announced a further investment in Project Gigabit, aiming to deliver high-speed broadband to hard-to-reach areas across Britain. Rural towns and villages in South West Wales are among the latest to benefit, as part of a wider effort to achieve near-total gigabit coverage by 2030.

The programme, a key pillar of the Government’s Plan for Change, is designed to stimulate economic growth and remove barriers to opportunity. The latest rollout will bring some of the fastest broadband speeds available to remote communities, enhancing access to essential services such as healthcare, remote education, and video communication. It is also expected to support business growth and improve job opportunities for young people.

Welsh leaders welcome investment

Cllr Hazel Evans, of Carmarthenshire County Council, welcomed the announcement, saying: “This is a much-needed boost as we strive to improve digital connectivity across Carmarthenshire. Further investment will help ensure our rural communities continue to prosper as we transition towards a more digital society.”

Rob Stewart, Leader of Swansea Council and Chair of the Swansea Bay City Deal’s joint committee, also praised the initiative:

“This is fantastic news for the rural communities in our region. The Swansea Bay City Deal fully supports initiatives that improve the lives of people and businesses. This investment in digital infrastructure will create social and economic opportunities for communities that would otherwise be left behind.”

£289 million boost for broadband expansion

The announcement forms part of four new contracts worth over £289 million, aimed at delivering gigabit-capable broadband to approximately 131,000 homes and businesses across England and Wales.

Unlike traditional copper-based networks, gigabit connections provide faster and more reliable service, even during peak times. Households and businesses will no longer need to compete for bandwidth, as these high-speed networks allow multiple devices to operate seamlessly.

Welsh Secretary Jo Stevens highlighted the significance of the investment: “Powered by this UK Government funding, thousands more people and businesses across Wales will gain access to ultra-fast broadband. Our priority is to drive sustained economic growth, and to achieve this, we must ensure every part of Wales has full digital coverage as quickly as possible.”

Implementation and next steps

The Digital Infrastructure Programme is working closely with Building Digital UK (BDUK) and Openreach to deliver Project Gigabit. Further regional updates are expected in the coming months, outlining timeframes and specific locations set to benefit.

Upgrading and expanding existing networks is a complex process, requiring technical surveys and coordination between commercial providers and local authorities, including planning and highways departments. As a result, implementing gigabit-capable broadband can take time.

For further details about broadband plans in your area, residents are encouraged to contact their Digital Champion for more information.

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Business

Welsh Govt-backed SME exports surpass £320m since Export Action Plan launch

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SMALL and medium-sized enterprises (SMEs) in Wales have secured over £320 million in export deals directly supported by the Welsh Government since the introduction of its Export Action Plan in December 2020.

The government’s tailored export assistance includes comprehensive market research, strategies to identify new customers, and hands-on support to help businesses enter international markets and forge lasting partnerships.

This milestone follows a series of successful 2024 trade missions, which introduced 150+ Welsh businesses to key global markets. Highlights included enabling life sciences firms to exhibit at Medica in Düsseldorf and supporting fintech companies at Money 20/20 in Amsterdam.

Case Study: Brainbox Ltd
Cardiff-based Brainbox Ltd, a leader in non-invasive brain stimulation and imaging technology for neuroscience research, has achieved £5 million in new international contracts with Welsh Government backing.

Dan Phillips, Commercial Director at Brainbox, said: “Exporting has been pivotal to our growth, enabling us to showcase cutting-edge neuroscience solutions worldwide. The Welsh Government’s support has been instrumental in launching new products, building global relationships, and driving our expansion over the past five years. Their tailored approach exemplifies how strategic trade guidance can propel businesses onto the international stage.”

2025: A Year of Global Ambitions
The Welsh Government has announced seven international trade missions scheduled by March 2025, including:

  • Arab Health Expo in Dubai (January 2025)
  • Trade delegations to Singapore and Malaysia (February)
  • Participation in Gulfood Dubai, Foodex Tokyo, and the Game Developers Conference in San Francisco (March).

Additionally, the Explore Export Wales 2025 conferences in March will unite Wales’ “export ecosystem” of support services under one roof, offering SMEs expert advice on navigating global markets.

Rebecca Evans, Cabinet Secretary for Economy, Energy, and Planning, commented: “Exporting empowers SMEs to scale up, create jobs, and bolster resilience in a competitive global economy. Despite recent challenges, our Export Action Plan has delivered undeniable value to Wales. We remain committed to ensuring businesses across the nation continue to thrive internationally in 2025 and beyond.”

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