The Port of London Authority (PLA) has acquired Masthouse Terrace Pier on the Isle of Dogs in East London in an effort to increase light freight on the river.
Port of London officials view the project as a step up for London's working river and maritime commerce industry, noting the Isle of Dogs pier will be instrumental for developing better trade connections on the Thames by boat in the future.
PLA finance director, Julie Tankard, said, “Through our investment strategy, we are working to encourage more trade on the river.
“With good connections to nearby Canary Wharf, we plan to expand the pier to make it the first in the capital with space dedicated to the transportation by river of parcels and other light freight.
“It’s a win-win. More river trade boosts the economy, creating jobs, and helps reduce carbon emissions in the capital, by taking lorries off the region’s roads.”
The pier will remain a stopping off point for Uber Boat by Thames Clipper River Bus services. Investing in river maritime commerce follows a trend in other large maritime accessible cities to take advantage of local waterways for moving light freight and packages by water rather than by vehicle.