Belfast Harbour has released its 2025 Annual Report, confirming another year of strong performance and delivery across the port and wider estate.

Turnover rose to £97.1m, a 10.2 per cent increase on 2024, while underlying profit before tax climbed 21.0 per cent to £44.4m. Capital expenditure for the year totalled £39.4m, with a further £77.1m committed to pipeline projects by year end.

As a Trust Port, Belfast Harbour receives no public funding and reinvests all post-tax profits into the port and estate. Over the past decade it has committed £426m to major infrastructure and development, funded entirely from operations.

In early 2025 the Harbour launched Advance Regional Prosperity, a five-year strategy outlining a £313m self-funded investment programme. It forms Horizon 1 of the 2050 Masterplan, which details £1.3bn of planned investment in port infrastructure.

An economic impact study published during the year found trade through the Harbour supports £8.8bn in total Gross Value Added (GVA), equivalent to 15.7% of Northern Ireland's total economic output.

Project delivery accelerated, with ground broken on D3, a new £90m deepwater quay — the single largest capital project in the port's history — and a £100m agreement secured with JERA Nex bp to advance the UK and Ireland's offshore wind transition.

City Quays Gardens opened in May 2025, creating a new waterfront green space, while plans progressed for residential development on the estate, including a planning submission for 600+ homes at Clarendon Wharf.

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The Harbour reported it is on track to achieve net zero operational emissions ahead of its 2030 target, having reduced operational carbon by 70 per cent since 2015, and remains on course to become the first net zero port operator on the island of Ireland.

Community engagement continued, with £335,000 invested directly in local initiatives, complemented by £250,000 of in-kind support during the year.

Despite global uncertainty, trade proved resilient: 24.3 million tonnes of cargo moved through the port, broadly in line with 2024. Cruise activity also performed strongly, with 147 ship calls and more than 320,000 passengers and crew — an estimated £25m boost to the local economy — and the Harbour marked its 1,500th cruise call.

Dr Theresa Donaldson, Chair of Belfast Harbour Commissioners, said: "Belfast Harbour has a strong track record of delivering for Northern Ireland, and 2025 was no exception. With sustained trade and significant investments in port infrastructure projects, new residential developments and community investment, we are delivering on our commitments as set out in our Advance Regional Prosperity strategy, and I'd like to take this opportunity to thank our customers, tenants and stakeholders, together with our staff and Board, for supporting another year of superb delivery.

"As we look to the future, and the long-term plans laid out in our 2050 Masterplan, which was launched in May, we will continue to invest in securing the future of trade on this island, as well as creating vibrant places to live and work and achieving our Net Zero targets. Our plans are ambitious and they will only be possible with the reclassification of our accounting status as a Trust Port, so we can prudently borrow to fund large-scale projects. We're pleased with the progress and support we have received with this process so far."

Joe O'Neill, Chief Executive, Belfast Harbour said: "2025 was another strong year for Belfast Harbour, with robust trade figures, a new 5 year strategy launched, an ambitious pipeline of capital investments identified, and a cruise milestone reached.

"We've already made significant progress in our Advance Regional Prosperity strategy and have taken a long-term approach to development in our 2050 Masterplan. With three clear horizons ahead, Belfast Harbour is committed to securing the future of trade for the region and investing for the benefit of the city and region."

"Elsewhere we've also seen the advancement of our estate development with over 600 homes planned for the Clarendon Wharf development, 256 across City Quays 4 and Pilot Street, and major progress on the construction of Loft Lines by Titanic Quarter to deliver 778 homes. Our City Quays Gardens also opened in 2025, providing an award-winning public space for those who live and work in the Harbour Estate."