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Displaying items by tag: Operating Profits

Operating profits at the Port of Waterford for 2020 were €0.7 million, down from the €1.2 million recorded in 2019 during a period of trading set against the pandemic.

The Port's turnover was €7.2m for the year a reduction of 8% against 2019 and shareholder’s funds ended the year at €33m.

Bulk throughput in 2020 came in at 1.5 million tonnes, a 3% decrease on 2019, while the levels of container shipment handled grew by 2%.

The company said that for the first half of 2021, the business is showing very positive momentum despite the continued challenges posed by the pandemic in the ability to drive car park and cruise income.

Bulk handling (see photo) is currently ahead of 2020 by over 20% at this year’s halfway point and container handling is also holding up well and in-line with 2020 levels.

Further reading from RTE News.

Published in Irish Ports

Dublin Port Company last year recorded “a strong financial performance” with operating profits of €44.15 million despite challenges from Brexit and Covid-19.

The company’s annual report shows the company’s revenues dipped by only 6.6 per cent from €92.72 million to €86.59 million.

The port’s operations were hit hard in the second quarter of 2020 with volumes down 17 per cent due to the pandemic. The company had last year anticipated volumes could be down 23 per cent to 29.3 million tonnes.

However, in his report, chairman Jerry Grant stated that the volume decrease was “far less than feared” and volumes for the year were 36.9 million tonnes – a 3.3 per cent drop on 2019.

The port’s operating profits of €44.15 million were down only marginally on the operating profits of €44.22 million for 2019.

More from The Irish Times including passenger figures. 

Published in Dublin Port

Marine Institute Research Vessel Tom Crean

Ireland’s new marine research vessel will be named the RV Tom Crean after the renowned County Kerry seaman and explorer who undertook three major groundbreaking expeditions to the Antarctic in the early years of the 20th Century which sought to increase scientific knowledge and to explore unreached areas of the world, at that time.

Ireland's new multi-purpose marine research vessel RV Tom Crean, was delivered in July 2022 and will be used by the Marine Institute and other State agencies and universities to undertake fisheries research, oceanographic and environmental research, seabed mapping surveys; as well as maintaining and deploying weather buoys, observational infrastructure and Remotely Operated Vehicles.

The RV Tom Crean will also enable the Marine Institute to continue to lead and support high-quality scientific surveys that contribute to Ireland's position as a leader in marine science. The research vessel is a modern, multipurpose, silent vessel (designed to meet the stringent criteria of the ICES 209 noise standard for fisheries research), capable of operating in the Irish Exclusive Economic Zone (EEZ). The Tom Crean is able to go to sea for at least 21 days at a time and is designed to operate in harsh sea conditions.

RV Tom Crean Specification Overview

  • Length Overall: 52.8 m
  • Beam 14m
  • Draft 5.2M 

Power

  • Main Propulsion Motor 2000 kw
  • Bow Thruster 780 kw
  • Tunnel thruster 400 kw

Other

  • Endurance  21 Days
  • Range of 8,000 nautical miles
  • DP1 Dynamic Positioning
  • Capacity for 3 x 20ft Containers

Irish Marine Research activities

The new state-of-the-art multi-purpose marine research vessel will carry out a wide range of marine research activities, including vital fisheries, climate change-related research, seabed mapping and oceanography.

The new 52.8-metre modern research vessel, which will replace the 31-metre RV Celtic Voyager, has been commissioned with funding provided by the Department of Agriculture, Food and the Marine approved by the Government of Ireland.

According to Aodhán FitzGerald, Research Vessel Manager of the MI, the RV Tom Crean will feature an articulated boom crane aft (6t@ 10m, 3T@ 15m), located on the aft-gantry. This will be largely used for loading science equipment and net and equipment handling offshore.

Mounted at the stern is a 10T A-frame aft which can articulate through 170 degrees which are for deploying and recovering large science equipment such as a remotely operated vehicle (ROV’s), towed sleds and for fishing operations.

In addition the fitting of an 8 Ton starboard side T Frame for deploying grabs and corers to 4000m which is the same depth applicable to when the vessel is heaving but is compensated by a CTD system consisting of a winch and frame during such operations.

The vessel will have the regulation MOB boat on a dedicated davit and the facility to carry a 6.5m Rigid Inflatable tender on the port side.

Also at the aft deck is where the 'Holland 1' Work class ROV and the University of Limericks 'Etain' sub-Atlantic ROV will be positioned. In addition up to 3 x 20’ (TEU) containers can be carried.

The newbuild has been engineered to endure increasing harsher conditions and the punishing weather systems encountered in the North-East Atlantic where deployments of RV Tom Crean on surveys spent up to 21 days duration.

In addition, RV Tom Crean will be able to operate in an ultra silent-mode, which is crucial to meet the stringent criteria of the ICES 209 noise standard for fisheries research purposes.

The classification of the newbuild as been appointed to Lloyds and below is a list of the main capabilities and duties to be tasked by RV Tom Crean:

  • Oceanographic surveys, incl. CTD water sampling
  • Fishery research operations
  • Acoustic research operations
  • Environmental research and sampling operation incl. coring
  • ROV and AUV/ASV Surveys
  • Buoy/Mooring operations