Drogheda Port Company (DPC) has taken over full control of Fast Terminals Ireland Limited, the stevedoring company in Drogheda Port, in which it held a 50% shareholding.
DPC has acquired the remaining 50% shareholding from its partner Fast Lines Belgium NV.
Fast Lines Belgium NV will remain an important customer of Drogheda Port and currently operates the regular Bel-Eire service from Antwerp to Drogheda with conventional cargoes, offering a direct
continental service to both importers and exporters.
Following the acquisition, the company will trade as East Terminals and continue to offer a complete stevedoring service to all customers in Drogheda Port.
Speaking for Drogheda Port Company, Mr Paul Fleming CEO stated “strategically this is an important move for Drogheda Port and allows a continued investment in personnel and equipment in East Terminals to ensure the long-term sustainability of Drogheda Port and allow us to continue to compete against other ports on the East Coast of Ireland. We are also extremely happy that we will be continuing our long relationship with Fast Lines Belgium into the future and remain their premier port of call in Ireland.”
Speaking for Fast Lines Belgium NV, Ms Catrien Scheers Chair, said “Since the stevedoring partnership was founded in the year 2000 a lot of work has been done by both partners, Drogheda Port Company and Fast Lines Belgium, to make Fast Terminals a premium port terminal stevedore for handling and storage of breakbulk and bulk cargoes on the Irish east coast. Now the time is right to step out as partner in the JV company and focus on the continued growth of trade volumes between Antwerp and Drogheda. Fast Lines Belgium will continue its presence and operations in
Drogheda with the Bel-Eire breakbulk service between Antwerp and Drogheda and with our subsidiary Antara Shipping.”
