Displaying items by tag: Solid Finance

21st July 2020

Belfast Harbour Reports of Solid Annual Results for 2019

A solid performance by Belfast Harbour in 2019 provides a strong platform to help drive NI’s economic recovery from Covid-19. AFLOAT adds above Arklow Accord (see Ports & Shipping, Nov.2019) is a newbuild which entered service earlier this year, is berthed at the port. The Irish flagged bulk orientated cargoship is the second of six 'A' series to be completed in a Dutch yard for Arklow Shipping

A sound financial performance is how Belfast Harbour has reported figures for 2019 and this in line with expectations of providing a strong platform from which to respond to challenges posed by the impact of Covid-19 on the local and global economy.

Releasing its annual results last month, Belfast Harbour reported turnover of £65.9m in the year to the end of 2019 (down 4%) and generated operating profits of £30.6m (down 15% from the record results of 2018). The decline in earnings largely reflected the completion of a major offshore windfarm contract mid-2018 and the ongoing decline in power station coal throughput.

Trade remained strong during the year, with more than 24 million tonnes of cargo passing through the port. Ferry passenger numbers exceeded 1.5m for the third year in a row, there were a record number of freight vehicles - up 4% to 542,000 – and cruise ship activity also continued to grow, with 280,000 cruise visitors during the year.

During 2019, £44m was invested in a range of port and estate projects, with £40m invested to automate container handling and upgrade the Belfast -Liverpool ferry terminal, in readiness for the introduction of larger new Stena Line vessels. Construction also commenced on City Quays 3, which will be Northern Ireland’s largest ever Grade ‘A’ office building. The last remaining office space in the City Quays 2 building was occupied during the year.

In 2019 Belfast Harbour committed £115.7m in further investment in strategically significant projects to help deliver its vision of becoming the best regional port and an iconic waterfront for Belfast. These investments will be a critical enabler of NI’s Covid-19 recovery, given the Port’s recognised role as a key driver of the regional economy.

In the past 10 years Belfast Harbour has invested over £290m in port infrastructure and estate regeneration, which as a Trust Port it entirely self-funded - with all profits reinvested back into developing the Port for the benefit of customers and the wider economy.

Published in Belfast Lough

Tagged under

About the Golden Globe Race

The Golden Globe Race is the original round the world yacht race. In 1968, while man was preparing to take his first steps on the moon, a mild mannered and modest young man was setting out on his own record breaking voyage of discovery. Off shore yacht racing changed forever with adventurers and sailors, inspired by Sir Robin Knox-Johnston, following in his pioneering wake. Nine men started the first solo non-stop sailing race around the World. Only one finished. History was made. Navigating with a sextant, paper charts and an accurate and reliable time piece, Sir Robin navigated around the world. In 2018, to celebrate 50 years since that first record breaking achievement, the Golden Globe Race was resurrected. It instantly caught the attention of the worlds media as well as adventures, captivated by the spirit and opportunity. The original race is back.

The Golden Globe Race: Stepping back to the golden age of solo sailing

Like the original Sunday Times event back in 1968/9, the 2018 Golden Globe Race was very simple. Depart Les Sables d'Olonne, France on July 1st 2018 and sail solo, non-stop around the world, via the five Great Capes and return to Les Sables d'Olonne. Entrants are limited to use the same type of yachts and equipment that were available to Robin Knox-Johnston in that first race. That means sailing without modern technology or benefit of satellite-based navigation aids.

Competitors must sail in production boats between 32ft and 36ft overall (9.75 10.97m) designed prior to 1988 and having a full-length keel with rudder attached to their trailing edge. These yachts will be heavily built, strong and steady, similar in concept to Robin's 32ft vessel Suhaili.

In contrast to the current professional world of elite ocean racing, this edition travels back to a time known as the 'Golden Age' of solo sailing. Suhaili was a slow and steady 32ft double-ended ketch based on a William Atkins ERIC design. She is heavily built of teak and carried no computers, GPS, satellite phone nor water-maker, and Robin completed the challenge without the aid of modern-day shore-based weather routing advice. He had only a wind-up chronometer and a barograph to face the world alone, and caught rainwater to survive, but was at one with the ocean, able to contemplate and absorb all that this epic voyage had to offer.

This anniversary edition of the Golden Globe Race is a celebration of the original event, the winner, his boat and that significant world-first achievement. Competitors in this race will be sailing simple boats using basic equipment to guarantee a satisfying and personal experience. The challenge is pure and very raw, placing the adventure ahead of winning at all costs. It is for 'those who dare', just as it was for Knox-Johnston.

They will be navigating with sextant on paper charts, without electronic instruments or autopilots. They will hand-write their logs and determine the weather for themselves.

Only occasionally will they talk to loved ones and the outside world when long-range high frequency and ham radios allow.

It is now possible to race a monohull solo around the world in under 80 days, but sailors entered in this race will spend around 300 days at sea, challenging themselves and each other. The 2018 Golden Globe Race was a fitting tribute to the first edition and it's winner, Sir Robin Knox-Johnston.

Background on Don McIntyre (61) Race Founder

Don is an inveterate sailor and recognised as one of Australia s greatest explorers. Passionate about all forms of adventure and inspiring others, his desire is to recreate the Golden Age of solo sailing. Don finished 2nd in class in the 1990-91 BOC Challenge solo around the world yacht race. In 2010, he led the 4-man Talisker Bounty Boat challenge to re-enact the Mutiny on the Bounty voyage from Tonga to West Timor, in a simil