UK port operator Peel Ports will implement higher steel handling and storage fees at the Port of Liverpool starting April 1, citing a 10% rise in operational costs and other contributing factors.
The port has recently invested in two new indoor storage facilities dedicated to steel and metals, adding to its existing sheds nine and ten. Peel Ports has also reiterated its commitment to achieving net zero emissions by 2040.
Peel Ports Group extended its steel and metals terminal in response to the growth in customer demand at the Port of Liverpool a year ago
Market sources indicate that storage fees for steel coils will increase by 10-20%, depending on the volume handled by trading firms. Larger trading firms with higher volumes will face a 20% fee increase, while smaller firms with lower volumes will see a 10% hike.
Some trading firms are said to pay over £9 per tonne for coil handling following the adjustment. In comparison, similar services cost approximately £7 per tonne at the Port of Bristol and even less at Newport.
The Port of Liverpool is said to provide four weeks of free storage before quay rental charges apply, with charges increasing to £1 per tonne per week for some customers, while other ports typically offer eight weeks of free storage.
“As a responsible business, we always aim to achieve the right balance of providing competitive rates to reinvest in our facilities. Our charges reflect the multiple pressures the business is experiencing, such as higher inflation and changes to the fiscal regime including National Insurance, business rates, and vehicle taxes,” a spokesperson from Port of Liverpool said.