HSBC funding helps Portland Port increase cruise liner capacity - Business Leader News

HSBC funding helps Portland Port increase cruise liner capacity

A privately owned commercial port in Dorset is increasing its capacity with the support of an eight-figure finance package from HSBC UK.

Portland Port in Portland, Dorset, is rebuilding one of its six deep-water berths, increasing its capacity to accommodate 350m ocean liners. The HSBC UK-backed addition of this berth will future-proof against demands from global cruise operators and an ever-growing bulk cargo business.

The eight-figure HSBC UK funding will partly support the project, which is the biggest investment in the port’s history.

Bill Reeves, Chief Executive Officer at Portland Port, commented: “Establishing this new deep-water berth is essential to the port’s continued growth. This funded expansion will provide significantly increased capacity at the port and allow us to welcome some of the world’s largest cruise liners.

“It will also enable us to support the continued expansion of the port’s bulk cargo trades. We’re excited to welcome partners new and old following the launch of the new facility.”

Gareth Evans, Area Director for Hampshire & Dorset Corporate Banking at HSBC UK, added: “We’re delighted to be supporting the expansion of Portland Port. The organisation is set for an exciting period of growth and we look forward to seeing its continued development, as well as the wider economic benefits this will bring to the region.”

Acquired from the Royal Navy in 1996, Portland Port has since developed into a commercial port that handles cruise ships, as well as dry and liquid bulk cargo, and maintains a strong relationship with the Royal Navy and Royal Fleet Auxiliary (RFA).

Global cruise lines utilising the port include Princess Cruises, Disney, TUI, and Saga.