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Displaying items by tag: ICG trading results

#IrishFerries - Irish Ferries a division of owners Irish Continental Group (ICG) reported a 1.6pc rise in revenues in the year so far, and said it has a low level of exposure to sterling.

As the Independent.ie writes the company behind Irish Ferries, which operates between Ireland and Britain, said in a trading update that the impact of the plunge in sterling since the Brexit vote in June had so far been offset by lower costs.

The company said it had a low level of net sterling exposure. In the 10 months to the end of October, (ICG) consolidated revenue was €280.2m, up 1.6pc from a year ago, it said.

Net debt stood at €25.6m at the end of the period, compared to €44.3m at the end of 2015. Construction of a new cruise ferry announced on May 31 remains on schedule for delivery in May 2018, the company said.

For more detailed financial trading figures released by ICG click here 

Afloat adds that their ropax ferry MV Kaitaki (formerly Isle of Inishfree) remained on charter, operating in New Zealand, while four container ships (see EUCON trading results report) acquired in late 2015 were fully deployed in the period.

Also previously covered on Afloat, the charterer of the HSC Westpac Express exercised their option to extend the charter for a further period of up to 12 months to October 2017. The charter is subject to usual US government procurement regulations and the charterer has further options to extend the charter up to mid 2021.

The construction of a new 50,000 gross tonnage cruise ferry costing €144m announced in May this year remains on schedule for delivery in May 2018.

Published in Ferry

Coastal Notes Coastal Notes covers a broad spectrum of stories, events and developments in which some can be quirky and local in nature, while other stories are of national importance and are on-going, but whatever they are about, they need to be told.

Stories can be diverse and they can be influential, albeit some are more subtle than others in nature, while other events can be immediately felt. No more so felt, is firstly to those living along the coastal rim and rural isolated communities. Here the impact poses is increased to those directly linked with the sea, where daily lives are made from earning an income ashore and within coastal waters.

The topics in Coastal Notes can also be about the rare finding of sea-life creatures, a historic shipwreck lost to the passage of time and which has yet many a secret to tell. A trawler's net caught hauling more than fish but cannon balls dating to the Napoleonic era.

Also focusing the attention of Coastal Notes, are the maritime museums which are of national importance to maintaining access and knowledge of historical exhibits for future generations.

Equally to keep an eye on the present day, with activities of existing and planned projects in the pipeline from the wind and wave renewables sector and those of the energy exploration industry.

In addition Coastal Notes has many more angles to cover, be it the weekend boat leisure user taking a sedate cruise off a long straight beach on the coast beach and making a friend with a feathered companion along the way.

In complete contrast is to those who harvest the sea, using small boats based in harbours where infrastructure and safety poses an issue, before they set off to ply their trade at the foot of our highest sea cliffs along the rugged wild western seaboard.

It's all there, as Coastal Notes tells the stories that are arguably as varied to the environment from which they came from and indeed which shape people's interaction with the surrounding environment that is the natural world and our relationship with the sea.