Business

Belfast Harbour to dig deep to welcome the world’s largest cruise liners from 2028

Trust-owned port unveil £90m deep-water investment plan as part of new five year strategy

Aerial view of Belfast Harbour from the city end.
Belfast Harbour has published a new five year strategy, which will see around £313m invested in the trust-owned port over the next five years.
By Ryan McAleer

BELFAST Harbour is to invest £90 million to develop a new deep-water quay, opening the port to the world’s largest cruise liners.

The plan is part of a new £313m five-year strategy, which will relocate Belfast’s cruise operation to a new deep-water berth at its ‘D3 terminal’ on the Airport Road, in time for the 2028 tourist season.

Planning approval is already in place, with a contractor waiting in the wings for what will be the largest single capital project ever undertaken by Belfast Harbour.

The move will see the current site of trust-owned port’s cruise terminal re-developed back into a major hub for the assembly and installation of floating offshore wind turbines.

Belfast Harbour originally invested £53m to open Ireland’s first and only floating offshore wind assembly site back in 2013.

But a lapse in offshore projects later saw the site successfully repurposed as the second busiest cruise liner terminal across Ireland and the UK.

The chief executive of Belfast Harbour, Joe O’Neill, said the ambitious renewable energy targets set by governments means floating offshore wind turbines are expected to play a major role in the coming decades.

“We are getting an increasing number of enquiries, looking for the return of that original site for offshore from late 2027, early 2028,” he said.

The harbour chief said the second phase of the deep-water plan, which is expected to cost between £40m and £50m, will require third-party funding and a wind farm developer.

But with net zero targets set in legislation, he said government will need to provide funding to ports to help achieve its offshore wind demands.

Aerial image of Belfast Harbour and Belfast Lough.
Belfast Harbour has published a new five year strategy, which will see around £313m invested in the trust-owned port over the next five years, including the rebuild of Stormont Wharf (pictured).

“It’s a significant investment opportunity for us and for the wider economy on the renewable clean-tech transition.

“No other port on the island of Ireland has a facility, and on the west coast of Britain, the facilities are limited.

“We have a really strong competitive position here now and we want to capitalise on that.”

The harbour’s new strategy for 2025-2029, published on Tuesday, has earmarked £208m for in port improvements and £105m in ongoing development projects.

Alongside the £90m deep-water quay, £60m has been set aside for port maintenance, repairs and upgrades, with a further £58m for development and infrastructure.

Aerial image of Belfast Harbour from Belfast Lough.
Belfast Harbour has published a new five year strategy, which will see around £313m invested in the trust-owned port over the next five years.

It will include the rebuild of the 1960s-era Stormont Wharf, which manages heavy bulk goods, including grain, animal feed and coal at the port.

Joe O’Neill said the quay had reached the ‘end of its life’.

It’s understood the end of bulk coal supply to the Kilroot power station has created more flexibility to carry out the works at the site.

Sustainably powered cranes will also be introduced, alongside the introduction of a new autonomous passenger vehicle.

The ‘Harlander’ is due to begin on-road trials later this year, ahead of full deployment in 2029.

Belfast Harbour chief executive, Joe O'Neill (left) with harbour chair Dr Theresa Donaldson.
Belfast Harbour chief executive, Joe O'Neill (left) with port chair Dr Theresa Donaldson, launching the new five year strategy: 'Advance Regional Prosperity 2025-2029'

In terms of investments in the wider harbour estate, £60m will be invested in the City Quays 5 office complex, £29.5m on new infrastructure and refurbishments, with £15.5m for new storage warehouses.

Mr O’Neill said while the City Quays 3 office tower is not yet fully occupied, analysis of the market has shown around one year left of ‘grade A fully ESG compliant’ office space in Belfast.

“That is what foreign direct investment (FDI) companies are looking for and what companies in the city at lease-end are looking for,” he said.

“By 2027/28, we believe there will be a market opportunity there.”

The new five year plan does not include capital funding for Belfast Harbour’s new 23-storey residential tower, City Quays 4.

Planning approval is already in place for the 256 build-to-rent apartments and 69 affordable homes in Sailortown, which the harbour much progress first.

In its new strategic report, it states: “Without additional borrowing, we can’t self-develop this project.

“These are much-needed homes, so we will find a way to deliver them.

“Our preference is for reclassification, but if this does not happen, we will investigate other funding models.”