Displaying items by tag: San Diego

25th November 2014

Rumour Mill Says Bermuda Has The Nod For Next America's Cup

#AmericasCup - Though the official announcement is still a week away, speculation is growing that Bermuda will be chosen as host for the 2017 America's Cup.

But as Stuff.co.nz reports, the rumour comes as a major blow to San Diego's hopes of welcoming the event.

It seems the issue is simply down to the matter of money, with a tourism chief from the Southern Californian city quoted as saying that "when it came down to it, Bermuda was the destination Larry [Ellison] needed to choose."

Ellison - head of software giant Oracle - was the backer of the current cup holders Oracle Team USA, which won in spectacular fashion last year.

And the financial incentives of hosting the event in the Caribbean tax haven are hard to ignore, even in spite of San Diego's storied legacy in sailing.

Stuff.co.nz has more on the story HERE.

Published in America's Cup

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About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.