7 December 2022
We are pleased to share that Shoreham Port has secured an eight-figure package with HSBC UK to consolidate existing facilities and fund future growth. We will use the funding package to expand cargo handling facilities to keep up with demand, develop our commercial property estate and enhance terminal capacity.
With ambitious aims to play a proactive role in regional decarbonisation, we will continue investment in the Shoreham Port Green Energy Hub, a pioneering project creating cost effective green hydrogen - a clean fuel for locally based fleets.
Sustainability-linked facilities from HSBC UK will enable our Port, which has a 260-year history, to meet environmental targets on waste and emission reduction and regional economic objectives around training development and educational placements. We will also use part of the funding package to launch the Port's biggest ever apprenticeship scheme, creating new jobs for the local community.
Nick Hicks, Area Director of South East Corporate Banking at HSBC UK, said: “Shoreham Port is an excellent example of an organisation that prioritises championing important corporate social responsibility whilst managing an essential service to the short-sea shipping industry. We are pleased to be able to provide the support needed to enrich the development and investment into all aspects of the Port.”
Tom Willis, Chief Executive Officer at Shoreham Port, commented: “We are delighted to be announcing a new financial partnership with HSBC UK. We are confident we have found a financial partner who understands our 260-year history, our values and community responsibilities as a Trust Port.
“As ever, our Masterplan is focused on improving the Port for everyone and this collaboration with HSBC UK will enable the next phase of our sustainable growth. Our plans at the Port will continue to facilitate economic recovery, create more good quality local employment and, through the Shoreham Port Green Energy Hub, make a significant contribution to the region's NetZero ambitions”.
From the outset of the refinancing process our Board made the decision to appoint EMC Corporate Finance, led by Michael Pay, to advise and assist the Port in the delivery with its financial strategic plans. EMC is the South East's leading independent provider of business management and corporate finance advice, supporting businesses across the region.
Michael Pay, Co-Founder and Director of EMC commented “We are delighted to have been selected to work with Shoreham Port to facilitate this successful collaboration. Working with the Board it was apparent that, rather than just refinancing existing facilities, what was really needed was to put in place arrangements that would support the Port through the rest of the decade. Acting as trusted custodians, Shoreham Port's financial partnership with HSBC will enable the Port to grow sustainably while boosting the local economy and drive innovation in the Maritime industry and we are delighted with the successful outcome.”
