Feature, Freight News, Sea

Funding flows into Tyne

[ March 4, 2019   //   Chris ]

The Port of Tyne has secured a £60m refinancing package to support its investment programme.
The five-year agreement with Lloyds Bank Commercial Banking comprises a £30m revolving credit facility and a £30m term loan.
Lloyds Bank has committed to lending up to £700million this year to firms across the North East, and up to £18billion across the UK.
Tyne contributes £690m to the North East economy and is the second largest car exporting port in the UK, as well as handling containers, bulks, renewables and offshore services.
Tyne has meanwhile become the first port to achieve the Institute of Customer Service’s ServiceMark Accreditation. ServiceMark is an internationally recognised benchmark of an organisation’s achievement in customer service, and its commitment to upholding those standards.

Tags: Port of Tyne