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Displaying items by tag: SFPC

Shannon Foynes Port Company which is Ireland’s second largest port operator, has said that the Shannon Estuary Vision 2041 Masterplan needs to start now.

That’s the view of the Port's CEO Pat Keating on the masterplan which the Minister for the Environment, Eamon Ryan recently launched to highlight the unique strategic location in Ireland and Europe, to develop floating offshore wind projects in the Atlantic.

The masterplan for the Shannon estuary, a 500km2 waterway stretching from Limerick City to Loop Head in Co. Clare, is on course to become an international floating offshore wind energy hub in addition to helping the country reach its climate goals.

According to Mr Keating the masterplan will lead to significant economic impacts in the region aswell to thousands of jobs created. The project is a multi-site approach he added and with strategic development locations across Kerry, that also included opportunities at the Port of Fenit. 

The story from RadioKerry includes an audio clip of the CEO commenting on the potential of renewable projects for the estuary and also along the western seaboard.

Published in Shannon Estuary
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Ireland's deepest sheltered commercial harbour, Shannon Foynes Port Company (SFPC) has reported another very strong year in 2021, with record earnings achieved for the year and profit before taxation exceeding €5.2 million for the first time.

The performance was down to a mix of recovery from Covid-19 impacts sooner than expected, a resurgent economy and the supply/demand imbalance in the energy generation sector, the report reveals.

With tonnage throughputs increasing by 16% to 10.9 million tonnes, turnover increased by 23.8% to €16 million (2020: €12.9 million). Tonnages were particularly strong in the agriculture and construction sectors, with the export of cement and related imports growing strongly.

Overall, SFPC’s general cargo terminals of Limerick and Foynes performed strongly, with year-on-year throughput increases of 9.9%, manifesting in these terminals now operating at historically high levels.

In addition to throughput and turnover growth, stringent cost management remained a core focus resulting in returning a significantly improved EBITDA margin of 47.5% (2020: 42.9%) and a historically high EBITDA of €7.6 million (2020: €5.6 million).

Commenting on the performance, Shannon Foynes Port CEO Patrick Keating said that despite challenges of 2022, he remained confident about the company’s future: “Notwithstanding the tragic events unfolding in Ukraine, we remain confident that there are significant opportunities to grow and expand the Port at the operating level. With an expanded business development function, we have identified targeted areas that will drive revenue growth over the short, medium and long term.”

Mr Keating said that Since 2011 – the base year of the company’s masterplan, Vision 2041 – tonnage at its general cargo terminals increased by 60%, even accounting for the COVID contraction. This performance is also reflected in the company’s balance sheet, with net assets increasing by 281% to €54m since 2010 and with annual net operating cashflow increasing by over 170% over the same period.

The CEO said that due to the increased tonnage throughputs projected in Vision 2041, the ongoing roll-out of the company’s investment programme is continuing at pace. Following the completion of Phase 1 at a cost of €12m, construction has now commenced on Phases II through to IV. These phases, costing a total of €33m, will involve the construction of 117m of new quay to join the East and West Jetties, infilling for associated quay set down together with the development of 38 hectares site at Foynes as a port business park. These represent the largest capital projects ever undertaken by the Company and are scheduled to complete in 2023.

He continued, the company will have a significant part to play in assisting the country’s transition to a low carbon economy due to its role as an international offshore renewable energy hub. “Our medium-term Capital Investment Program has been reviewed to ensure that the Port will have the necessary capacity for the medium term to accommodate this transition, particularly with regard to offshore renewables and deep water berth capacity,” he said.

Commenting on the results, David McGarry, Chairperson of SFPC, said: The year recorded not only great financial success but also notable progress on several fronts with regards to SFPC’s Strategic Plan. With SFPC making strides internally, it also remains one of the foremost economic drivers for the Mid-West Region.”

Mr McGarry said that the Board had made significant progress on realising the objectives of the Strategic Plan 2021–2025.  The company has now updated its objectives with the drafting of a 2022-2026 Strategic Plan, which has been delivered to the Department of Transport and the Department of Public Expenditure and Reform, with the report expected to be approved soon.

Published in Shannon Estuary

Shannon Foynes Port Company has signed a Memorandum of Understanding (MOU) with Norwegian Offshore Wind to provide a framework for collaboration on future projects.

Norwegian Offshore Wind is a cluster of 350 companies that cover the entire supply chain for offshore wind projects. Norway has been seen as a leader in such projects with 30GW of capacity expected by 2040.

Shannon Foynes is aiming to take advantage of the significant number of offshore wind projects expected to be developed around the Irish coast in the coming decades.

The agreement signed this week includes running shared events, sharing opportunities to do business and joint research projects.

For further reading, the Irish Examiner reports on the port company's signing.  

Published in Shannon Estuary

Ministers at the Department of Transport have welcomed the award of more than €2.3 million in funding to Shannon Foynes Port Company under the European Union’s Connecting Europe Facility (CEF).

The co-funding will support a feasibility study to prepare for future development of a new deep-water berth and associated infrastructure at Foynes Port in Limerick.

Required infrastructure for these plans includes the construction of a bridge to link the new deep-water berth to the existing port area on the mainland. The study wills consider internal rail infrastructure.

It’s expected that this development at Shannon Foynes Port “will generate a considerably higher level of freight traffic and enhance connectivity along the North Sea-Mediterranean Corridor”, Transport says.

Reacting to the funding announcement, Minister for Transport Eamon Ryan said: “This is really positive news for Shannon Foynes Port Company and for Ireland. International connectivity is critical for our economic development.

“This feasibility study by Shannon Foynes Port Company will provide the basis for a new deep-water berth which can accommodate larger vessels and meet projected demand in the coming years. The project has also been designed to facilitate the potential role the port can play in the expansion of offshore wind energy in the future.”

Minister of State Hildegarde Naughton also welcomed the news. “Irish ports continue to benefit from financial backing by the European Union through the Connecting Europe Facility programme,” she said. “This award of over €2.3 million to Shannon Foynes Port Company represents another strong signal of the important role the port and its hinterland areas play in the EU’s TEN-T network.”

CEF funding supports projects on the EU’s Trans-European Networks in the fields of transport, energy and telecoms. The European Commission announced the selection decision of the call on 15 July and the full list of projects proposed to be funded is available online.

The news comes as the State-owned port company reported a 7.6% decline in turnover last year to €12.9 million as pre-tax profits fell from €4.9 million to €3.1 million due to the impact of the COVID-19 crisis. Afloat.ie has more on the story HERE.

Published in Irish Ports
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Shannon Foynes Port Company which is state-owned, has reported a 7.6 per cent decline in turnover last year to €12.9 million as pre-tax profits fell from €4.9 million to €3.1 million due to the impact of the Covid-19 crisis.

Chief executive Pat Keating said it was a solid performance despite the unprecedented challenges faced by the facility, which is the country’s largest bulk port for non-container freight.

Earnings before interest, taxes, depreciation and amortisation (ebitda) for the year were €5.6 million, slightly up on the prior year despite a 94 per cent decline in throughput at the Moneypoint terminal due to the coronavirus pandemic.

Overall throughput at Shannon Foynes last year totalled 9.458 million tonnes, down 1.9 per cent or 185,000 tonnes versus 2019.

The Irish Times has further details of the mid-west port's performance. 

Published in Shannon Estuary

As an island nation, Ireland is dependent on ports and shipping services to transport goods, and 90% of our trade is moved though Irish ports.

Shipping and maritime transport services make a significant contribution to Ireland’s ocean economy, with the sector generating €2.3 billion in turnover and employing over 5,000 people in 2018.

The importance of Ireland’s ports and shipping services is the focus of this week’s Oceans of Learning series, with resources from the Marine Institute and Irish Maritime Development Office (IMDO).

Ireland’s maritime industry continues to grow and progress each year with Irish ports and shipping companies making significant investments.

The ports sector in Ireland is currently undergoing a number of expansions and developments — with Dublin Port’s Alexandra Basin development, the development of Ringaskiddy in Cork by Port of Cork and the development of Shannon Foynes Port.

Along with these major investments, shipping companies are also investing heavily in new tonnage, with Irish Ferries, CLdN and Stena leading new build programmes.

IMDO director Liam Lacey said: “The Irish maritime industry can look to the future with confidence. It has shown itself to be resilient and agile in responding to challenges.

“Over the past decade, it has had to respond to the challenges of the financial crisis of 2008, the uncertainty surrounding Brexit and recent challenges. Ireland’s maritime sector has continued to underpin our economy by maintaining vital shipping links for both trade and tourism.”

Oceans of Learning offers downloadable resource such as fact sheets, a quiz and posters on Ireland's shipping sector. To access the resources for this week’s series, visit Port of the Future.

For more information on Oceans of Learning, visit www.marine.ie and follow the Marine Institute on Facebook, Instagram and Twitter.

Published in Ports & Shipping

It was another record performance achieved at Shannon Foynes Port Company (SFPC) as the western port revealed its annual report for 2018.

According to SFPC, earnings before interest, tax, depreciation and amortisation (EBITDA) were €6.8million. As for operating profits in the period they remained exceptionally strong at €4.8million, €1.2million or 34% higher than five years ago, 2014. Revenue increased by 4.9%.

The company’s main ports on the Shannon Estuary, Foynes and Limerick, again achieved record tonnage levels, with an 11.7% increase in throughput. However, overall tonnage throughput was down by 5.5% to 10.7million due to a reduction of activity at privately managed terminals on the estuary.

This is the sixth year in succession that general cargo terminals have increased year on year.

Tonnages at Foynes and Limerick terminals for 2018 are some 50% higher at end 2018 than at end 2013 and exceed previous historically high tonnage levels experienced during 2006 by 11.2%.

To read more click the download here. 

Published in Shannon Estuary

In the mid-west the Shannon Foynes Port Company is pursuing an unprecedented investment programme at pace to transform the Shannon Estuary into a major economic hub and act as an economic counter-pole to Dublin, consistent with Government’s National Planning Framework.

According to the Limerick Post, the port authority, which is responsible for all commercial navigation of the estuary, has a €64 million investment programme already underway that will add an additional two-thirds capacity at its general cargo terminals of Limerick and Foynes.

A new road will transform accessibility to the West Limerick town while an ambitious plan for Limerick Docklands could see up to €100m of investment in growing capacity there and maximising non-core assets such as disused buildings and unused lands.

The Shannon Foynes Port Company (SFPC) is already Ireland’s second largest port operation, handling trade valued at €8.5 billion per annum. It is also designated as a Core Network Port (TEN-T) by the European Union – essentially the EU determining that SFPC is not just of national but international importance, a status that strengthens its hand when it comes to investment confidence.

The transformational programme was launched in 2013 through Vision 2041, an ambitious plan aimed at maximising the enormous potential of the Shannon Estuary as an economic hub for the region.

For further reading click the link here.

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At the European Sea Ports Organisation (ESPO) annual Conference held in Port of Livorno, Italy, three ports were congratulated today among them Shannon Foynes Port Company for achieving the EcoPorts’ environmental management standard (PERS).

The other ports that received PER status were awarded to the Port of Melilla in Spain and the Port of Ceuta, a Spanish autonomous city in north Africa neighbouring Morocco.  

Isabelle Ryckbost, ESPO’s Secretary General, Eamonn O’Reilly, ESPO’s Chairman, and Sotiris Raptis, EcoPorts coordinator, handed over the PERS certificates to the ports’ representatives during the annual ESPO Conference in Livorno.

“I would like to congratulate Port of Ceuta for getting EcoPort’s environmental standard and Shannon Foynes Port Company and Port of Melilla for renewing it. European ports are clearly stepping up their efforts to communicate about their environmental policies and to engage with the surrounding citizens and community. The 2019 citizen wants to be better informed and is more engaged. Ports have to respond with more transparency regarding both externalities and environmental performance, but also have to show how the port in its different functions and responsibilities can contribute to the well-being of the city, the region and the citizen,” says ESPO’s Secretary General, Isabelle Ryckbost.

It is encouraging that the number of ports that joined EcoPorts is continuously increasing. Environmental challenges such as climate change, air quality, noise and water quality are key priorities for European ports. EcoPorts enables ports to further improve how they deal with the environmental challenges and to communicate to local communities, policy makers, research and civil society their priorities and the progress they make,” says EcoPorts coordinator, Sotiris Raptis.

Compliance with the PERS standard is independently assessed by Lloyd’s Register and the certificate has a validity of two years. PERS is revised after the 2-year period to make sure that the port continues to meet the requirements.

You can find more information on EcoPorts’ PERS and on the ESPO Environmental Report here in addition to this link.

Published in Shannon Estuary

#ShannonEstuary - The port of Shannon Foynes writes The Irish Times, could take any post-Brexit strain off Irish east coast ports should Border checks lead to congestion, its chief executive has said.

Pat Keating, chief executive of Shannon Foynes Port Company, said the country’s largest bulk port for non-container freight could take further capacity on completion of a general cargo terminal.

The State-owned company is investing more than €20 million converting 83 acres on the eastern side of the port for marine-related industry as part of a €64 million development plan.

As part of the expansion, the company plans to next year commence lift-on/lift-off operations of container freight that would allow it to take traffic from Dublin Port should Brexit congest freight traffic moving across the Irish Sea to UK ports.

To read much more click here. 

 

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Dublin Bay

Dublin Bay on the east coast of Ireland stretches over seven kilometres, from Howth Head on its northern tip to Dalkey Island in the south. It's a place most Dubliners simply take for granted, and one of the capital's least visited places. But there's more going on out there than you'd imagine.

The biggest boating centre is at Dun Laoghaire Harbour on the Bay's south shore that is home to over 1,500 pleasure craft, four waterfront yacht clubs and Ireland's largest marina.

The bay is rather shallow with many sandbanks and rocky outcrops, and was notorious in the past for shipwrecks, especially when the wind was from the east. Until modern times, many ships and their passengers were lost along the treacherous coastline from Howth to Dun Laoghaire, less than a kilometre from shore.

The Bay is a C-shaped inlet of the Irish Sea and is about 10 kilometres wide along its north-south base, and 7 km in length to its apex at the centre of the city of Dublin; stretching from Howth Head in the north to Dalkey Point in the south. North Bull Island is situated in the northwest part of the bay, where one of two major inshore sandbanks lie, and features a 5 km long sandy beach, Dollymount Strand, fronting an internationally recognised wildfowl reserve. Many of the rivers of Dublin reach the Irish Sea at Dublin Bay: the River Liffey, with the River Dodder flow received less than 1 km inland, River Tolka, and various smaller rivers and streams.

Dublin Bay FAQs

There are approximately ten beaches and bathing spots around Dublin Bay: Dollymount Strand; Forty Foot Bathing Place; Half Moon bathing spot; Merrion Strand; Bull Wall; Sandycove Beach; Sandymount Strand; Seapoint; Shelley Banks; Sutton, Burrow Beach

There are slipways on the north side of Dublin Bay at Clontarf, Sutton and on the southside at Dun Laoghaire Harbour, and in Dalkey at Coliemore and Bulloch Harbours.

Dublin Bay is administered by a number of Government Departments, three local authorities and several statutory agencies. Dublin Port Company is in charge of navigation on the Bay.

Dublin Bay is approximately 70 sq kilometres or 7,000 hectares. The Bay is about 10 kilometres wide along its north-south base, and seven km in length east-west to its peak at the centre of the city of Dublin; stretching from Howth Head in the north to Dalkey Point in the south.

Dun Laoghaire Harbour on the southside of the Bay has an East and West Pier, each one kilometre long; this is one of the largest human-made harbours in the world. There also piers or walls at the entrance to the River Liffey at Dublin city known as the Great North and South Walls. Other harbours on the Bay include Bulloch Harbour and Coliemore Harbours both at Dalkey.

There are two marinas on Dublin Bay. Ireland's largest marina with over 800 berths is on the southern shore at Dun Laoghaire Harbour. The other is at Poolbeg Yacht and Boat Club on the River Liffey close to Dublin City.

Car and passenger Ferries operate from Dublin Port to the UK, Isle of Man and France. A passenger ferry operates from Dun Laoghaire Harbour to Howth as well as providing tourist voyages around the bay.

Dublin Bay has two Islands. Bull Island at Clontarf and Dalkey Island on the southern shore of the Bay.

The River Liffey flows through Dublin city and into the Bay. Its tributaries include the River Dodder, the River Poddle and the River Camac.

Dollymount, Burrow and Seapoint beaches

Approximately 1,500 boats from small dinghies to motorboats to ocean-going yachts. The vast majority, over 1,000, are moored at Dun Laoghaire Harbour which is Ireland's boating capital.

In 1981, UNESCO recognised the importance of Dublin Bay by designating North Bull Island as a Biosphere because of its rare and internationally important habitats and species of wildlife. To support sustainable development, UNESCO’s concept of a Biosphere has evolved to include not just areas of ecological value but also the areas around them and the communities that live and work within these areas. There have since been additional international and national designations, covering much of Dublin Bay, to ensure the protection of its water quality and biodiversity. To fulfil these broader management aims for the ecosystem, the Biosphere was expanded in 2015. The Biosphere now covers Dublin Bay, reflecting its significant environmental, economic, cultural and tourism importance, and extends to over 300km² to include the bay, the shore and nearby residential areas.

On the Southside at Dun Laoghaire, there is the National Yacht Club, Royal St. George Yacht Club, Royal Irish Yacht Club and Dun Laoghaire Motor Yacht Club as well as Dublin Bay Sailing Club. In the city centre, there is Poolbeg Yacht and Boat Club. On the Northside of Dublin, there is Clontarf Yacht and Boat Club and Sutton Dinghy Club. While not on Dublin Bay, Howth Yacht Club is the major north Dublin Sailing centre.

© Afloat 2020