Multi-million pound boost for Felixstowe business Maritime Transport
PUBLISHED: 09:37 27 August 2019 | UPDATED: 09:37 27 August 2019
Felixstowe logistics firm Maritime Transport has secured a multi-million pound expansion package from HSBC bank.
The funding has allowed the business to develop its freehold property portfolio, creating a network of strategic rail freight interchange hubs across the country.
Maritime has used part of the funding to purchase state-of-the-art equipment for the development of rail-borne services and to help take long haul freight off the UK roads.
Maritime Transport is now a leading operator in this country, owned by executive chairman John Williams who acquired the business in 2001.
It has grown from an annual turnover of £18m to more than £330m, handling 18,500 full load transport moves each week, with a road fleet of 1,600 trucks and six daily rail services.
The company recently announced the launch of Maritime Intermodal and a stream of new road-rail services to and from major container ports.
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A total of six new daily services have been launched from Felixstowe, London Gateway and Southampton, to Maritime's inland terminals at Birmingham Intermodal Freight Terminal (BIFT), Trafford Euroterminal and Wakefield Europort.
Maritime is now a rail terminal operator, offering new service possibilities to train operating companies, container shipping lines, freight forwarders and cargo owners.
HSBC UK has supported these developments with working capital and asset finance loans.
Alan McNicol executive finance director of Maritime Transport said: "We are delighted to partner with HSBC UK.
"Our strategy is a natural development for the company and HSBC's understanding of our requirements made them the obvious choice for Maritime.
"We have been involved in providing rail terminal services for a number of years and we recognise the need to extend our capability in this important area, developing our own services and strategic hubs to offer our customers greater choice and value."
Simon Pyatt area director for Corporate Banking HSBC UK, said: "Maritime is an extraordinary business which has grown exponentially under the stewardship of John Williams and his management team in the last 18 years.
"HSBC UK is really pleased to be involved with a pedigree, market leader with such exciting plans and we look forward to supporting the business as they grow."