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News - 27/02/18

Cowes Harbour stakeholder benefit projects

Cowes Harbour is a Trust Port and run for the benefit of the port’s stakeholders, who are all those with an interest in the harbour, whether they live or work here or come as visitors. In accordance with government guidance, Cowes Harbour Commission (CHC) is encouraged to use some of the surplus funds on stakeholder dividend projects that do not provide the normal commercial return but improve the harbour, its services and facilities to the overall benefit of its stakeholders. CHC always consults the Harbour Advisory Committee (CHAC) before committing to any stakeholder benefit investment and indeed we would welcome any suggestions or proposals you may have, which ideally should be channelled through the Advisory Committee. If you would like to contribute ideas for future stakeholder benefit projects, do please send a message to the CHAC.

CHC invests in a number of stakeholder dividend projects, which we report in more detail through the Annual Report and on our website, but the following explains some of the current CHC stakeholder dividend projects.

CHC’s contributions to the Destination Cowes partnership are provided as a stakeholder benefit; an example of this is shown in our February news story: “New Classic Regatta at Cowes”. Additionally, the Commissioners, supported by Advisory Committee Chairman John Corby, have just agreed to provide the Isle of Wight Studio School with a subsidised mooring for their Mini Tonner, further details are in our article: “Studio School Sets Sail”.

Examples of stakeholder benefits that are funded annually include, the harbour water taxi subsidy, and working with the Wessex Cancer Trust Charity to offer patients free parking at the Harbour Office when travelling to Southampton for treatment.

The Commission also continues to work as a funding member of the Isle of Wight Estuaries Project, which is a partnership between CHC, the Environment Agency, Isle of Wight Council, Natural England, and Yarmouth Harbour Commissioners. The partnership promotes and supports sustainable management of estuaries on the Island.