Risk management ensures the continuity of operations

The Port of Turku’s risk management supports the reaching of the company’s strategic and business goals and ensures the continuity of operations also in changing circumstances. Risk management starts with identifying different external and internal risks and preparing for them. Identification of risks is based on a systematic method and forms a part of the planning and follow-up of operations. The responsibilities and methods of risk management are determined in the Port’s operations system.

The most important goals of risk management include ensuring the continuity of vessel traffic in the port and securing the needs of port operations in the development of the city. Various restrictions on vessel traffic relating to e.g. environmental questions, and the building of new residential areas near the port may have a negative effect on the Port’s operating prerequisites. The great significance of the port operations to the city, both concretely and in terms of image, decreases the risks resulting from city planning, and the continuous development of the environmental soundness of vessel traffic defends the Port’s position at the heart of seaside city Turku.

From the financial point of view, Port of Turku Ltd’s business operations have remained stable also in the exceptional times of the past few years. In 2024, the biggest risks are still presented by the consequences of the war in Ukraine and the fluctuation of the interest rates which may affect, for example, the proceeding of the Port’s investments.

The generation of the result and the realisation of the budget are followed continuously, and any deviations are reported to the Board of Directors monthly during the financial year, and to the City of Turku’s Concern Section and the persons responsible for supervision during the financial year, in accordance with the decision of the City Council.

Read the full annual report 2023 (pdf).

Text: Kari Ahonen
Photo: Jarmo Piironen