Maritime gets HSBC funding for multi-million expansion

Maritime Transport is expanding its freehold property portfolio, creating a strong network of strategic rail freight interchange hubs across the country, funded by a multi-million finance package from HSBC.

It is also using part of the funding to buy intermodal equipment to facilitate the development of rail-borne services and to help take long haul freight off the road.

In January, Maritime signed a deal with DB Cargo, taking on DB Cargo terminals in Manchester and Wakefield. In exchange DB Cargo is running Maritime’s rail operations out of Felixstowe and Southampton.

Recently Maritime launched “Maritime Intermodal” and a stream of new road-rail services to and from major container ports. 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. At the end of the year, East Midlands Gateway will open for business.

“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,” said finance director Alan McNicol.

Simon Pyatt, area director for corporate banking HSBC UK, said: “Maritime is an extraordinary business which has grown exponentially under the stewardship of Chairman and owner, 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.”

By Malory Davies