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Private profit, public loss: The financial and economic performance of U.K. ports

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  • Richard Saundry
  • Peter Turnbull

Abstract

When compared to the publicly owned ports, the financial and economic performance of the U.K.'s privatized ports has failed to live up to expectations. Any improvement in service to port users in recent years has arisen from employment deregulation (the abolition of the National Dock Labour Scheme) rather than privatization, while the sale of public ports represents a significant loss to the taxpayer and other stakeholders. Based on a detailed comparison of public and private ports, the propriety of further port sales is questionable, and the current ownership, administration and operational structure of the U.K.'s port transport industry should reconsidered.

Suggested Citation

  • Richard Saundry & Peter Turnbull, 1997. "Private profit, public loss: The financial and economic performance of U.K. ports," Maritime Policy & Management, Taylor & Francis Journals, vol. 24(4), pages 319-334, January.
    • Handle: RePEc:taf:marpmg:v:24:y:1997:i:4:p:319-334
    DOI: 10.1080/03088839700000041
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    Citations

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    Cited by:

    1. José I. Castillo-Manzano & Juan P. Asencio-Flores, 2012. "Competition Between New Port Governance Models on the Iberian Peninsula," Transport Reviews, Taylor & Francis Journals, vol. 32(4), pages 519-537, January.
    2. Monios, Jason, 2019. "Geographies of governance in the freight transport sector: The British case," Transportation Research Part A: Policy and Practice, Elsevier, vol. 121(C), pages 295-308.
    3. Pallis, Athanasios A., 2007. "Chapter 11 Whither Port Strategy Theory and Practice in Conflict," Research in Transportation Economics, Elsevier, vol. 21(1), pages 343-382, January.
    4. Lourdes Trujillo & Marianela Gonzalez, 2011. "Maritime Ports," Chapters, in: Matthias Finger & Rolf W. Künneke (ed.), International Handbook of Network Industries, chapter 17, Edward Elgar Publishing.
    5. Zhang, Jihua, 2016. "Quasi-landlord port financing in China: Features, practice and a contract theory analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 89(C), pages 73-88.
    6. Cullinane, Kevin & Ji, Ping & Wang, Teng-fei, 2005. "The relationship between privatization and DEA estimates of efficiency in the container port industry," Journal of Economics and Business, Elsevier, vol. 57(5), pages 433-462.
    7. Woo, Su-Han & Pettit, Stephen J. & Kwak, Dong-Wook & Beresford, Anthony K.C., 2011. "Seaport research: A structured literature review on methodological issues since the 1980s," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(7), pages 667-685, August.
    8. Maryna Tverdostup & Tiiu Paas & Mariia Chebotareva, 2022. "What Can Support Cross-Border Cooperation in the Blue Economy? Lessons from Blue Sector Performance Analysis in Estonia and Finland," Sustainability, MDPI, vol. 14(3), pages 1-17, February.
    9. David Parker, 2004. "Editorial: Lessons From Privatisation," Economic Affairs, Wiley Blackwell, vol. 24(3), pages 2-8, September.
    10. Grace Wang & Chen Gao, 2012. "Technical Efficiency and Port Competition: Revisiting the Bohai Economic Rim, China," JRFM, MDPI, vol. 5(1), pages 1-16, December.
    11. Baird, Alfred J. & Valentine, Vincent F., 2006. "Chapter 3 Port Privatisation in the United Kingdom," Research in Transportation Economics, Elsevier, vol. 17(1), pages 55-84, January.
    12. Pallis, Athanasios A. & Syriopoulos, Theodore, 2007. "Port governance models: Financial evaluation of Greek port restructuring," Transport Policy, Elsevier, vol. 14(3), pages 232-246, May.
    13. Brooks, Mary R., 2006. "Chapter 25 Issues in Measuring Port Devolution Program Performance: A Managerial Perspective," Research in Transportation Economics, Elsevier, vol. 17(1), pages 599-629, January.
    14. Maryna Tverdostup & Tiiu Paas, 2019. "Economic Performance Analysis Of Selected Blue Economy Sectors In Estonia And Finland," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 115, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    15. Baccelli, Oliviero & Percoco, M. & Tedeschi, A., 2008. "Port Authorities as cluster managers: the case of the Ligurian ports," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 39, pages 44-58.
    16. Baird, A., 1999. "Analysis of private seaport development: the port of Felixstowe," Transport Policy, Elsevier, vol. 6(2), pages 109-122, April.
    17. David Parker, 2004. "The UK's Privatisation Experiment: The Passage of Time Permits a Sober Assessment," CESifo Working Paper Series 1126, CESifo.

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