Contract Modification (under Regulation 43 Concession Contracts Regulations 2016) to the Quay Management Agreement between Shepherd Offshore Services Limited and Newcastle City Council

Description

In August 2001, Newcastle City Council ('the Council') awarded a contract to provide a quayside management service to Shepherd Offshore Services Limited ('SOSL'), whereby SOSL operates port activities at Walker Quay ('the Quay') on behalf of the Council ('the Contract'). The Contract term is 25 years from 6 August 2001, and is due to expire on 31 March 2026. SOSL is remunerated solely by receiving a share of the income from operating the Contract. The Council has become aware of the need for considerable remediation works to be carried out to the Quay prior to the expiry of the Contract which is the responsibility of the Council, therefore a contract modification has been made to extend the term of the Contract.