Displaying items by tag: Profits PostPandemic

17th August 2023

First Profit for Isle of Man Steam Packet Since Pandemic

A return to profit for the Isle of Man Steam Packet Company has been recorded for the first time in three years.

The ferry operator currently with a fleet of four, which became owned by the Manx government in 2018, made an £11m profit in 2022, following a £3.2m loss the previous year.

The double digit profit figure represents a significant upturn in the Steam-Packet's fortunes, which at the peak of the Covid-19 pandemic in 2020, saw a loss of more than £10.5m.

Such losses had stemmed from border closures during the pandemic. In addition the need to provide freight services so to enable essential lifeline supplies during that period.

It is now almost 17 months since the remaining Covid restrictions were lifted on 1 April 2022.

BBC News has more on the Steam Packet's directors' report and including in the same year when the company acquired the relief ro-ro freight vessel MV Arrow for about £8m.

Published in Ferry

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About World Ocean Day

World Ocean Day is celebrated annually on June 8th to highlight the important role the ocean has for our life and the planet. The focus each year is on the 30x30 campaign: to create a healthy ocean with abundant wildlife and to stabilise the climate, it is critical that 30% of our planet’s lands, waters, and oceans are protected by 2030.

One of the issues affecting our ocean is marine litter which has become a global problem for both humans and marine life. However, communities around Ireland have demonstrated their desire to be part of the solution by taking part in several beach cleaning and clean-up calls to action.

Statistics show that the number one cause of marine litter is litter dropped in towns and cities.

In 2021, the initiative changed its name from “World Oceans Day” to “World Ocean Day”. By dropping the “s”, its organisers wanted to highlight the fact that we are all connected by a large ocean. This shared ocean supports all life on the planet, by producing most of the oxygen we breathe and regulating climate. No matter where we live, we all depend on the ocean to survive.

This means that each piece of marine litter removed from a beach, river, lake, park or street in Ireland, will have a positive impact on a global scale.