Thames Trade Registers 10% Fall: PLA
News: The Port of London Authority (PLA) has announced that trade via the terminals and cargo handling facilities on the River Thames recorded a 10% year-on-year (y-o-y) fall to 43.7mn tonnes in 2012. The decline was mainly attributed to the shutdown of the Coryton oil refinery at the end of May 2012. However, container traffic grew by 2% y-o-y to 14.8mn tonnes in the same period. The rise was majorly recorded at London Container Terminal at the Port of Tilbury. Meanwhile, PLA's chief executive Richard Everitt has stated that 2012 was termed a tough year in terms of trade on the river. Everitt added that the medium-term prospects for trade on the river seem to be extremely strong as a terminal on the Thames is attracting major investment.