Redcar Bulk Terminal (RBT), on the south bank of the River Tees, has announced a long-term deal with Javelin Global Commodities to handle hundreds of thousands of tonnes of imported coal for use in the power generating sector.
The terminal has also agreed a multi-year contract to handle large quantities of granulated blast furnace slag for construction materials supplier, Hanson. The steel-making by-product is ground into a fine powder for use as a cement replacement in ready-mixed concrete.
The deals are just some of the contracts that RBT has secured in recent months, and come on the back of the investment by British Steel, which secured a 50% stake in the business earlier this year.
The Terminal had previously been used as an import facility for iron and coal before the collapse of SSI in October 2015. However, RBT has started to show marked growth as it handles and stores a wide range of cargoes such as coal, pet coke, granulated blast furnace slag, aggregates and scrap.
RBT general manager Garry O’Malley said: “The transformation of this business is remarkable, underlined by our fine start to the year and the number of new contracts we’ve secured.
“Through the dedication of our employees, and the strong customer partnerships we’ve developed, the business is growing significantly and starting to realise some of its undoubted potential.
“It’s exciting to know this is just the start for Redcar Bulk Terminal and there’s great scope to increase our customer–base, shipments and capabilities.”
The terminal employs 79 people and operates a 320-metre quay capable of accommodating vessels up to 17m draft.
Garry said: “We’re delighted to be working with businesses like Javelin Global Commodities and Hanson as together we feel we can have a positive impact, not only on the Teesside economy but the wider economy of the North of England.
“Strong partnerships like those we enjoy with Javelin Global Commodities and Hanson give me every confidence we’ll continue to attract more new customers and become the bulk terminal of choice for importers and exporters alike.”
British Steel’s CEO, Peter Bernscher, said: “We’ve been greatly impressed by the team at Redcar Bulk Terminal and the results they’re now delivering.
“I’d like to thank them for their efforts thus far and I’ve great confidence in their ability to continue growing the business.”
Javelin Global Commodities CEO, Peter Bradley said; “We are delighted to be able to continue to support the turnaround at RBT. The partnership of Javelin and RBT going forward will play a key role in coal imports to the Power Generation and Cement Industry in the UK in their need for low cost, flexible quality and quantity fuel supply arrangements.”