Dover People’s Port Trust

2009-2013Emergence of a new model of Port

Ownership and Governance

www.peoplesport.org.uk-@DoverPP

• December 2009 Port Authority at Dover, the Dover Harbour Board (DHB) applies for voluntary sale to private equity

• Consultation on the DHB plan for privatisation with all the stakeholders February-March 2010

• Almost all stakeholders objected to the DHB plan during consultation

• Breakdown in trust and confidence in the DHB by its major stakeholders

www.peoplesport.org.uk-@DoverPP

• March and April 2010 an alternative plan was devised.

• Accountable ownership through wide membership of local stakeholders

• May, June and July 2010 ideas and concepts formalised and found to fit with new Government policy.

• August 2010 ideas launched into the public realm.

• August 2010 Dover People’s Port Trust Ltd. formed and launched.

• November 2010 Bid Submitted to Government

www.peoplesport.org.uk-@DoverPP

• Proof of Stakeholder backing March 2011

• Consultation on change of Government policy May 2011

• Announcement and publication of new Government policy with community at its, core August 2011.

• Communitisation is what it’s about• Nationalisation did not deliver• Privatisation is not delivering• Communitisation as a model could

offer the answer.• Legislative amendments October 2011

to pave the way.

www.peoplesport.org.uk-@DoverPP

• Who will own the Port?• Local residents• Port Users• Port employees• Shipping Line employees• Local Business• Local Government• Regional Government• National Government (remaining as a

stakeholder, but with no direct share).

www.peoplesport.org.uk-@DoverPP

• How will they own the port?• EBITDA GB£20 million• Low end Traffic growth forecast

2.5%pa• Syndicated Loan as a Bridge to Bond• Issuance of long term bonds in

tranches• DPPT is a mutual industrial provident

society• Co-operative • Members own the cooperative• The cooperative own the port• Stakeholders, as defined, become

members for £10 each.• DPPT innovative, entrepreneurial

entity, best practices from private sector married to accountability and cooperation prevalent in public sector.

www.peoplesport.org.uk-@DoverPP