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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