Ireland's sailing, boating & maritime magazine

In association with ISA Logo Irish Sailing

Ferry Operator ICG Revenue Up As Traffic Increases

14th November 2017
Currently under construction in Germany, W.B. Yeats which ICG are to take delivery of the newbuild €144m cruiseferry next year Currently under construction in Germany, W.B. Yeats which ICG are to take delivery of the newbuild €144m cruiseferry next year Photo: ICG/Irish Ferries

#FerryNews -Consolidated revenue at Irish Continental Group (ICG) operator of Irish Ferries, increased by 3.1pc to €288.9m year-on-year in the ten months to 31 October.

Total revenues writes The Independent for the group’s ferries division was €184.4m, a 1.4pc increase on the prior year. The increase in revenue was driven by an increase in the number of cars and container freight that ICG carried.

For the year to 11 November, Irish Ferries carried 385,100 cars, an increase of 2.2pc on the previous year. Freight carryings for the year to 11 November were 247,700 roll-on roll-off, an increase of 0.5pc compared with 2016.

Despite the weakness in sterling, ICG managed to partly mitigate revenues affected by sterling with improvements in its sterling-based costs. However the company said that fuel costs continued to be impacted by higher global fuel prices compared to this time last year.

Total revenues recorded in the group’s container and terminal division recorded in the period to 31 October amounted to €111.2m, a 5.9pc increase on the prior year. For the year to 11 November container freight volumes shipped were up 5.5pc on the previous year at 281,000 teu, with the rate of growth slowing to 3.8pc in the period since 30 June.

Units handled at the group’s terminals in Dublin and Belfast increased 3.2pc year on year to 258,400 lifts. For more on the maritime transport logistics operator, click here.

Featured Sailing School

INSS sidebutton

Featured Clubs

DBSC
nyc sidebutton flag

Featured Associations

ISA sidebutton
ICRA
isora sidebutton

Featured Chandleries

chmarine sidebutton
viking sidebutton

Featured Blogs

W M Nixon - Sailing on Saturday
podcast sidebutton
BSB sidebutton
sellingboat sidebutton

Please show your support for Afloat by donating