NEWLYN PIER & HARBOUR COMMISSIONERS

Investment Strategy

Vision

To be the pre-eminent and thriving port in the SW of England for fishing and other users, taking advantage of its unique geographical location, supported by the most modern and efficient services and facilities for all its users, with the least possible impact on the environment and the greatest contribution to the wellbeing of Newlyn and the wider Cornish community.

Strategy

To be viable financially to generate a surplus that can be used to increase stakeholder benefits, whilst safeguarding the assets for use by future generations.

Key Aspirations

  • Newlyn to be recognised by all users as the major centre of Cornish fishing; supported by all the modern services required for the fishing industry, from a modern fish auction to marine engineering;
  • To work towards the most efficient method of distribution of utilities for the benefit of port users and suppliers, including renewable energy;
  • To provide training opportunities and skilled labour through the development of socio-economic projects in support of the future fishing industry;
  • To consider and new and complementary directions that will increase stakeholder benefits;
  • To protect the interests of all stakeholder / beneficiaries in the port; and
  • To provide a key driver for the improved well-being of Newlyn’s wider community.

Opportunities

  • To explore all opportunities to full advantage of Newlyn’s strategic geographic location, at the heart of one of Europe’s major fishing grounds;
  • Designated port of refuge for all / open 24/7;
  • A facilitator & co-ordinator of key amenities & services for the marine Industry;
  • To attract more vessels into the port; and
  • To engage the wider community, where possible, in marketing, developing and benefitting from the development of the port.

Investment

  • Explore private sector investment opportunities as well as accessing available grant funding to improve services and assets;
  • Access funding from Cornwall Council and other public sector agencies to deliver improvements to quayside facilities, harbour owned properties along the Strand and Sandy Cove; and
  • Consider future development opportunities / potential to secure the future of the fishing industry in Newlyn e.g. Sandy Cove / The Strand in partnership with other agencies from the public and private sectors.

Financial Return

We intend to measure our return on investment in the following way:-

  • To consistently generate a surplus over the years, taking into account significant investment and / or borrowing requirements; and
  • The long Term Target Level Return to be in accordance with best practice guidelines.

Risk Management

  • To take account of all risks affecting the harbour operation i.e. EU fishing policies / legislation, environmental concerns and future viability of the fishing industry; and
  • To ensure that future investment takes into account strategic risks and so align the port’s financial future along sustainable lines.

Communications

  • To improve communications internally / externally e.g. harbour users and stakeholder / the wider community;
  • Website development;
  • Regular contact with local press and media;
  • Improved flow of information between NPHC and Advisory Body; and
  • To improve harbour side opportunities for communicating the port’s story and potential.

Human Resources & Succession Planning

  • To have a well-informed, trained empowered, motivated and valued staff with a strong customer focus; and
  • To ensure succession planning in respect of Chair, Vice-Chair of the Board and Harbour Master.

Governance

  • Ensuring accountability and effective scrutiny;
  • Setting strategic aims and objectives;
  • Monitoring and measuring performance; and
  • Ensuring effective consultation with harbour users and stakeholders.