9 August 2010

Back in April 2010 Shoreham Port submitted an independent structural review to the Department for Transport, as required under the Department's guidance notes on modernising trust ports. This review concluded that the Port is firmly against privatisation and wishes to remain a trust port for the benefit of all stakeholders, and confirmed that the Board will continue with the existing strategy on commercialisation.

This week the Port received a very welcome letter from Mike Penning MP, Parliamentary Under Secretary of State. The letter confirmed the Department for Transport's acceptance of Shoreham's proposals for enhancing efficiencies and maximising asset value as the basis for its future direction. We will be meeting officials at the Department for Transport in the near future to discuss implementation plans and timetable.

Dennis Scard, Shoreham Port's Chairman, said:

"This is fantastic news from the Shipping Minister as it secures the future of the Port for the benefit of all its stakeholders, including our customers, employees, the Board and the local community. It also ensures that Shoreham Port remains a local niche port which is modern, vibrant and commercially focused whilst maintaining its trust port status and values".