#ShannonPortProfit – Record financial profits by Shannon Foynes Port Company (SFPC) is down to an increase in shipping activity levels not seen since 2008.
SFPC posted an operating profit of just over €3 million for 2012, which after financing costs and net disposal proceeds amounted to just over €2 million.
Operating profit represents a 6.6 per cent rise on 2011 performance. The Irish Times has more on this story.
Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals.
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Shannon Foynes Port (SFPC) are investing in an unprecedented expansion at its general cargo terminal, Foynes, adding over two-thirds the size of its existing area. In the latest phase of a €64 million investment programme, SFPC is investing over €20 million in enabling works alone to convert 83 acres on the east side of the existing port into a landbank for marine-related industry, port-centric logistics and associated infrastructure. The project, which will be developed on a phased basis over the next five years, will require the biggest infrastructure works programme ever undertaken at the port, with the entire 83 acre landbank having to be raised by 4.4 metres. The programme will also require the provision of new internal roads and multiple bridge access as well as roundabout access.
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