Port of Milford's CEO, Tom Sawyer, holds discussions at Labour Party Conference

He stated that throughout his election campaign, he had became increasingly aware of the growing demand for well- paid secure jobs in the industries of the future. These include the floating offshore wind energy development within the port of Milford Haven.

2024 is proving a major year for the port of Milford Haven following a £40m finance package form HSBC. The funding was utilised at the Port's Pembroke Port facility to modernise the historic dockyard to attract developers of marine renewable technologies and their supply chains.

Across the business, the Port has also invested in a number of sustainability initiatives. This includes expanding its electric van fleet and installing LED lighting, further driving the business to become Net-Zero ahead of the Government’s target of 2050.

Jonathan Chitty, chief financial officer at the Port of Milford Haven, has been reported as saying: "It’s an exciting time for the business as we firm up growth plans for the future, all of which are creating and enabling well-paid jobs across the region. We’re really pleased that our investments in Milford Haven have already created over 180 jobs. As proud custodians of the Milford Haven Waterway, we’re investing to improve safety, resilience and sustainability, not just for our own business, but for the coastal communities we support and for our future generations."

The port which, along with the port of Port Talbot, has been assigned freeport status, posted a record-breaking revenue of £41,3m for 2023, which was up nearly 5% on the previous year. In its 65th year of trading the port also increased profits to £4.1m.

The Port of Milford Haven’s diversification strategy has helped it regenerate record revenues despite a slight dip in shipping and cargo levels.

While shipping numbers were down (to 1,909) and cargo (to 34.7m tonnes), the port’s marine division remained busy, shepherding 58.7 million gross tons of shipping in some of the world’s most challenging sea conditions.

Healthy trading for the port’s cargo handling, property, and hospitality and tourism divisions also highlighted the success of its long-term growth and diversification strategies. Its waterfront 100 bedroom hotel, the Ty Milford, performed strongly in its first full year of trading while its solar energy income was up £600,000 to £1.7m with leisure revenues up £1.5m to £4,4m. It employs just over 250 and the port has net assets of £79.2m.

It growth and investment plans focus on expanding its pilotage capability, developing infrastructure to become a leading renewable energy hub, and furthering its hospitality offering.

The port’s investment in a new pilot boat during the year is a key step in supporting its pilotage growth ambition. Its renewables growth strategy also took a significant step forward during the year with the completion of new infrastructure - the enlarged slipway and new laydown areas, office facilities and workboat pontoon. The investment was supported by the £60m Pembroke Dock Marine project - one of the schemes backed by the Swansea Bay City Deal.