Displaying items by tag: SFPC handles €76bn trade

28th August 2016

More than €7.6bn in Trade Handled by Shannon Foynes Port Company

#TradeReport - More than €7 billion in trade every year was handled by Shannon Foynes Port Company, according to a report commissioned by the State company that runs mid-western harbour, writes The Irish Times.

Research by W2 Consulting, based on 2014 figures from the port itself and 31 companies using it, shows that it is worth €1.9 billion to the wider economy and handles €7.6 billion in trade annually.

It also shows that Shannon Foynes Port Company and its customers plan to spend €277 million between them over the five years to 2019, which will support 3,372 jobs in the region.

The port company intends to spend €130 million on an expansion plan, dubbed Vision 2041 , that will exploit advantages such as its deep water and sheltered harbours to develop an international trade hub there.

For much more including video featuring Chief Executive, Pat Keating, click here.

Published in Shannon Estuary

Tagged under

About Arklow Shipping

Arklow Shipping Limited, one of Ireland's leading shipping companies, has marked over 50 years of operation following its establishment in 1966.

The company, which began with a fleet of seven ships, has grown steadily over the years and now boasts a fleet of 59 vessels.

The company was founded by Captains James Tyrrell, Michael Tyrrell, and Victor Hall, who collaborated to create an umbrella company to operate their ships. This move allowed them to reduce overheads and strengthen their position in the market. The original fleet comprised seven ships, namely Tyrronall, Murell, Marizell, Valzell, Kilbride, River Avoca, and Avondale, all of varying sizes.

The shipping industry in Ireland underwent a significant transformation in the 1960s, with the replacement of traditional auxiliary schooners with modern crafts.

Arklow Shipping was at the forefront of this change, and the founders recognized the need for a new approach to shipping in Ireland. They built a company that could adapt to the changing market demands, and this has been a key factor in the company's continued growth.

Over the years, Arklow Shipping has bought, sold, and built ships, facing the challenges and opportunities that come with operating in the shipping industry. Despite these challenges, the company has remained committed to meeting market demand and providing high-quality services to its clients.

Today, Arklow Shipping is a leading player in the shipping industry, with a strong reputation for reliability and professionalism. The company's success story is a testament to the vision and dedication of its founders, who laid the foundation for a company that has stood the test of time.