News
Port’s report shows £3m fall in profits and fewer shipments
THE PORT OF MILFORD HAVEN has published its 2017 Annual Report and Accounts, revealing a £3m fall in profits alongside a 2.8m tonne decrease in throughput for the year.
The Port feels this was due mostly to the ongoing volatility in the Liquefied Natural Gas industry which saw record low shipments in 2017, and in part to an additional £1m pension service charge due to changes in long term interest rates.
The report also records an increase in the number of employee concerns and incidents over the past year, with the Port suggesting this is merely a result of the updated complaint mechanism.
To illustrate the volatility of the Gas Industry, in 2011 the port handled 126 LNG vessels. In 2013 this had fallen to 54, rising again to 91 in 2015, before falling to a low of 36 in 2017-just over one quarter of the throughput in 2011.
This volatility is driven by the differential in the price of wholesale gas in the UK market compared to other markets such as the Far East and Latin America.
This is not due to Brexit, nor low oil prices, but is due to the balance of supply and demand in the gas wholesale markets, not only in the UK, but also across the globe.
The global market for LNG is heavily influenced by the regularly fluctuating price, with increased demand in locations such as China and India seeing it sold there rather than being transported to Milford Haven.
In 2016’s report, the Port recorded a 26% reduction in the volume of LNG handled and they had anticipated this headline trade being substantially lower again in 2017.
Chris Martin, Chair of Board conceded that the significant reduction in LNG activity supports the need to diversify the Port’s revenues into new areas of business, reducing the impact of oil and gas market influences or the loss of a major customer.
A major investment was completed last year which saw the acquisition of Havens Head Retail Park. The retail park will complement the Port’s extensive property portfolio and become a key part of the Milford Waterfront development, creating close to 600 new jobs in Milford Haven. The first construction element is now underway.
Pension costs in 2017 were, at £2.3m, nearly £1m higher than in the preceding year. This additional charge taken through the profit and loss account is based on a technical calculation driven by accounting standards of the true annual cost to the port of funding pension obligations.
The calculation is highly dependent on current long term interest rates which reduced significantly in 2016 and which led to the £6.6m reversal of the Port’s scheme into a 10% deficit position shown in 2016’s accounts.
The accounting entries serve to underline why, in terms of employee benefits, it is now almost universally the case that businesses have moved substantially towards offering defined contribution schemes only.
The Port’s policy is to provide employee pay and benefits in line with the median market and therefore it is currently consulting on a move to a defined contribution scheme for new employees.
In the past year the Port has set up an Assurance Framework (AF) to provide a mechanism for reporting incidents, near misses and concerns, whether they are minor or major in nature.
Employees are encouraged to submit AF reports, which resulted in the number rising from 247 in 2016 to 318 in 2017.
During the year the number of near misses fell from 81 to 20, concerns increased from 67 to 124 and incidents rose from 99 to 174.
The Port were however able to record zero lost time accidents in 2017.
Crime
Police appeal for information after several tractors stolen
POLICE officers in Pembrokeshire investigating a theft from several tractors, which happened overnight between April 17-18, 2024.
The tractors had been in a field near to Loch Turfin, Haverfordwest.
Included in the stolen items were vehicle keys, tools and waterproof clothing.
A spokesperson said “Police are now appealing for anyone with information that could help them with their investigation to contact PC 772 Boyt either through a direct message on social media, online at: https://bit.ly/DPPContactOnline, by emailing [email protected] or by calling 101.
“Quote reference: 24*355571”
Community
Pembrokeshire firefighters help deliver fire engines to Ukraine
FIRE services from across the United Kingdom have rallied together to donate vital firefighting equipment to Ukraine, amidst ongoing conflicts that have seen local fire stations and firefighters come under direct attack.
The Mid and West Wales Fire and Rescue Service (MAWWFRS) was at the forefront of this international goodwill effort, donating three fire appliances and dispatching nine of their personnel to ensure safe delivery.
The initiative, coordinated by Fire Aid UK, involved a total of 11 UK fire services. Over a grueling 5.5-day journey that spanned several countries—starting from Kent Fire and Rescue Service and moving through France, Belgium, the Netherlands, Germany, and into Poland—33 fire appliances were transported to a location just 20 miles from the Ukraine border. They left Kent on April 23.
This convoy, laden with not just fire engines but also 3000 items of critical firefighting gear including cutting equipment, fire hoses, first aid kits, and generators, was a sight of resilience and humanitarian commitment. Watch Manager Rob MakePeace, a Business Fire Safety Officer, and Watch Manager Keith Jenkins, who is retired but still oversees part-time personnel at Haverfordwest, played pivotal roles in the operation from Pembrokeshire.
Speaking on the experience, Keith Jenkins expressed the profound impact of the mission, “It was a fantastic experience to be involved in. The convoy itself was an amazing sight, but the people we met, places we stayed and the reason we were delivering the appliances was something we will remember for a long time.”
The donation comes at a critical time for Ukraine, where daily attacks have not only jeopardized the lives of local firefighters but have also devastated much of the essential infrastructure needed to fight fires effectively. The additional appliances and equipment from the UK are expected to significantly bolster the capabilities of the Ukrainian fire departments, providing them with the necessary tools to save lives and protect property under dire circumstances.
This act of generosity and the strenuous efforts by the UK firefighters underscore a deep commitment to aiding those in peril, transcending borders and showcasing the best of international cooperation and humanitarian assistance.
News
Protest outside Stephen Crabb’s office over Rwanda deportations
SUPPORTERS of West Wales Stand Up to Racism group will attend a protest outside the office of Stephen Crabb MP in Market Street at 6pm on Tuesday evening (May 7).
The protest is to highlight the inhumane scheme to send refugees to Rwanda.
Since the Rwanda Bill was finally passed last week, refugees have already been identified, detained and are being prepared to be flown to Rwanda to have their asylum claims processed there.
Rushi Sunak has said “To detain people while we prepare to remove them, we’ve increased detention spaces to 2,200.
“To quickly process claims, we’ve got 200 trained, dedicated caseworkers ready and waiting. To deal with any legal cases quickly and decisively, the judiciary has made available 25 courtrooms and identified 150 judges who could provide over 5,000 sitting days.”
The protestors are asking: why is all this money being spent when these vulnerable people could have their asylum claims dealt with in the UK?
If the Prime Minister hoped his Rwanda plan would help get more votes for the Conservative Party in the recent elections, it would appear he was mistaken.
A new report from the Refugee Council warns that the UK Government’s flagship Illegal Migration Act and Rwanda Plan will lead to another catastrophic “system meltdown”, trapping over 100,000 people in permanent limbo while costing taxpayers billions.
West Wales Stand Up to Racism has campaigned against the Government’s plan to send refugees to Rwanda from the time this scheme was first suggested.
Supporters have previously met with Simon Hart MP and attempted to deliver a giant postcard to his office.
The group has taken part in the online Hands in Protest project organised by Artisan Avenue, Tenby which allowed everyone to express on line how they felt about Rwanda by submitting drawings of their own hands. The collective Hands In Protest gives a powerful message that the Rwanda plan should be stopped.
The organisers said: “Supporters will be once more taking the giant postcard on Tuesday, to protest about the Rwanda scheme. We will have small post cards for supporters to write messages to Stephen Crabb, telling him how strongly we feel about this.
“All over the UK, anti-racists are picketing Home Office buildings to show their opposition to the Rwanda scheme and are trying to prevent arrests and giving support to the refugees being arrested and detained.
“West Wales Stand Up to Racism supporters want to make their voices heard too.”
-
News6 days ago
Police investigating after woman found dead on beach near Pennar
-
News6 days ago
Police discover body in search for Luke Stephenson, 19
-
News6 days ago
Councillors block Milford Haven boxing event – promoter to appeal
-
News5 days ago
Beautiful, funny and lovely: Family pay tribute to Sian Batchelor
-
Community1 day ago
Joy as Willow rescued by coastguard after 12-day ordeal
-
Business2 days ago
Dragon LNG explores integration of LNG and CO2 liquefaction processes
-
News4 days ago
Body recovered confirmed to be Luke Stephenson, say police
-
News6 days ago
Tigers second division Cup Champions