A THRIVING North-East port will announce record results this morning for the third consecutive year as it gears up to create hundreds of new jobs.

Coals to Newcastle helped the Port of Tyne increase turnover in 2012 to £63m up from £59m a year earlier. 

The port, once world famous for coal exports, is now the UK's largest car exporter, the fourth largest coal importer and one of the largest handlers of wood pellet in the world. 

Cash flow from operating activity rose to £19m and profit before tax reached £12m - both records for the facility which recently unveiled ambitious investment  plans. 

The port will extend its main Riverside Quay and develop new facilities for handling, storage and transporting wood pellet in an £180m project that is estimates will create up to 300 new jobs, and 900 jobs in construction.

Since 2009, cargo volumes have almost doubled and turnover has increased by more than half, while cash flow from operating activities and profit before tax both increased fourfold.

The key driver behind the results was an increase of more than 40 per cent in bulk cargo handling.  A record volume of five million tonnes was achieved - enough to fill the new Wembley Stadium seven times. This was mainly due to increased demand for coal for power stations.

Major investment in dredging to make the River Tyne its deepest ever means that the port can accommodate the huge cargo ships that are now used for coal and other bulk cargoes such as steel, scrap metal, wood pellet and grain.

It also handled a record number of cars, with export, import of cars for Nissan and VW just beating last year’s record. 

The port's logistics division brought in major brands such as Barbour and Ringtons joining JML, The Co-Operative Clothing, Tetley and Tommee Tippee.

Port of Tyne chairman, Sir Les Elton, said: “The port’s strategy to diversify and invest in infrastructure is now coming to fruition. I would like to pay tribute to the staff of the port who have picked up the gauntlet to transform and commercialise the business and at the same time have accommodated huge increases in activity levels.

“The challenge now will be to maintain these levels of activity whilst also preparing for, securing and implementing the new business opportunities that lie ahead."

The port is estimated to have contributed £500m to the region's Gross Value Added in 2012, supporting about 10,000 jobs across the North-East. This includes about £54m brought into the region by cruise and ferry passengers.

Andrew Moffat, chief executive, said: "This is great news for the whole of the region. We are moving forward with confidence and that reflects our being in right sectors at the right time. 

“It’s always hard to beat your own records but we will keep trying.  We are already planning major investment in our site and infrastructure to be able to accommodate the new renewable fuels – both in handling wood pellet and servicing offshore wind manufacturing.  

"We are continuing to support existing customers with new developments including a second gantry crane (at a cost of £6m), development of newly acquired land, new IT systems and an enhanced focus on customer service for which we have become renowned.”