Scottish port’s GBP 50 million expansion plan gets the go-ahead

Published on
September 2, 2016

Peterhead harbor’s GBP 50 million (USD 66.4 million, EUR 59.4 million) redevelopment plans are to go ahead following confirmation of GBP 5 million (USD 6.6 million, EUR 5.9 million) of European Union and Scottish government funding.

The port’s plan to deepen the inner harbors and create a bigger fish market was among 65 Scottish projects sharing a GBP 11.4 million (USD 15.1 million, EUR 13.5 million) package announced by Fisheries Secretary Fergus Ewing.

Peterhead Port Authority (PPA) Chief Executive, Ian Laidlaw, said record landings in July and August proved that demand exists for increased capacity and improved facilities for the fishing fleet.

The port reported 90,329 metric tons (MT) of fish worth more than GBP 90.4 million (USD 119.9 million, EUR 107.3 million) were landed at the port during the first seven months of this year. At the same stage of 2015, landings totaled 83,079 MT worth GBP 74.9 million (USD 99.3 million, EUR 88.9 million).

The improved figures were largely attributed to higher volumes and value of whitefish, up 6 percent and 12 percent year-on-year.

The port has also benefited from a resumption of processing at local firm Northbay Pelagic, which suffered a devastating fire at its factory in 2015. This restart has helped to mitigate against the quota cuts for mackerel and herring, with prices for these species rising again after being depressed in the wake of Russia’s seafood import ban.

Herring has been fetching around GBP 550 (USD 730, EUR 653) per MT last month, up 67 percent on 12 months ago, while the late season mackerel fishery will get underway this month.

Contributing Editor reporting from London, UK

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