Owner of Irish Ferries Sees Slight Revenue Growth Despite Port of Holyhead Closure

9th May 2025

Jehan Ashmore

Irish Continental Group (ICG), parent company of Irish Ferries, saw a marginal decrease in its ferry division due to a ‘detrimental impact’ from the Holyhead port closure; however, the company looks forward to the full reopening of the North Wales port on 1 July. Above the newly acquired James Joyce which as Afloat reported entered service this week on the Dublin route. Credit: Irish Ferries

Irish Ferries, which is owned by the Irish Continental Group (ICG), has said its revenue grew 7.1 percent for the months between January and April this year.

The growth in these four months of the Dublin-based maritime group was driven in their container and terminal division, Eucon, amid “uncertainty” caused by the introduction of tariffs.

ICG said consolidated group revenue rose to €189.5 million in the four-month period, having stood at €177 million in the same corresponding period of 2024. However, ICG warned that the economic uncertainty “may dampen world growth prospects.”

ICG sees the “uncertainties created in the macro environment by tariffs as opportunities,” said the group’s chief executive, Eamonn Rothwell.

“We bought two ships in the last few weeks at really good deals because there was nervousness about the macro,” he said, referring to the company’s recent purchase of the Baltic Sea cruise ferry (James Joyce) recent purchase of the Baltic Sea cruise ferry (James Joyce) and an additional ‘feeder’ container ship.

More The Irish Times reports, and click here to consult ICG’s Trading Update figures and developments.

Published in Irish Ferries

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About The Author

Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals.

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