Peel Ports has opened its newest deepwater terminal, Liverpool2, at the Port of Liverpool.

According to Peel Ports, the £400 million (US$496 million) facility offers importers and exporters road, rail and canal connections to points in the north of the UK, and has a catchment area of more than 35 million people. With five ship-to-shore cranes and 12 container-handling cranes, Liverpool2 currently has the capacity to handle approximately 1 million TEUs per year.

“Today marks the beginning of a new era for the Port of Liverpool,” said Mark Whitworth, CEO of Peel Ports [left in photo]. “Our investment will help global shippers to transport cargo more efficiently to their end destination with lower costs, congestion and carbon emissions. Liverpool is in the right location, providing state-of-the art facilities and technology, and offers a real competitive advantage with a shorter supply chain and providing an all-water route right to the heart of the UK via the Manchester Ship Canal.”

Whitworth added that the new terminal creates a new trading gateway in the UK.

“We are already exploring and succeeding in creating new opportunities for UK exporters, having recently signed a significant memorandum of understanding to create a strategic alliance aimed at facilitating international trade and generating new business by promoting trade routes between Liverpool and the west coast of South America via the Panama Canal,” he said.

The Port of Liverpool currently holds about 8% of the container market in the UK, but it is expecting to raise that share to 15-20%.

“Being able to compete on the scale offered by Liverpool2 is only one aspect of how we’re transforming the port,” said Gary Hodgson, COO of Peel Ports. “Our real driving force is a commitment to customers, whether shipping lines or cargo owners, and helping them to achieve their business vision. As well as investing in the infrastructure and technology, we’re providing a more integrated service to our customers, whether that’s at the quayside, through port-centric logistics facilities or our wider network of ports.”

The next phase of development will involve the addition of another three ship-to-shore cranes and 10 more container-handling cranes, according to Peel Ports.