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Ferry Owner Irish Continental Group Sees Revenues Down 26% on Covid Hit

25th November 2020
ICG said its car volumes were down 66.8% to 122,700 in the first ten months of 2020 from 369,700 the same time last year. Above AFLOAT captures this scene within the bridge of Irish Ferries cruiseferry W.B. Yeats which currently operates routine sailings to Holyhead during the winter months while taking its place on the Dublin-Cherbourg route during the low-season is the chartered in freight-orientated ro-ro passenger ferry (ropax) Epsilon to maintain vital direct Ireland-mainland Europe links via the French port. ICG said its car volumes were down 66.8% to 122,700 in the first ten months of 2020 from 369,700 the same time last year. Above AFLOAT captures this scene within the bridge of Irish Ferries cruiseferry W.B. Yeats which currently operates routine sailings to Holyhead during the winter months while taking its place on the Dublin-Cherbourg route during the low-season is the chartered in freight-orientated ro-ro passenger ferry (ropax) Epsilon to maintain vital direct Ireland-mainland Europe links via the French port. Photo: Jehan Ashmore

Ferry company owner Irish Continental Group has reported a 26% drop in revenues for the first 10 months of 2020 as the number of cars it carried on its ferries slumped by 66.8%.

In a trading update, ICG which operate Irish Ferries (services to the UK and France), said its revenues for the ten months to the end of October fell to €229m, a decrease of €79m on the same time last year.

ICG said its ferries division faced challenging trading conditions after the continuation of travel restrictions across the EU which were first introduced in the middle of March due to the Covid-19 pandemic.

It said that car volumes were down 66.8% to 122,700 from 369,700 the same time last year, with total passenger volumes down 68% compared with 2019.

ICG said this has had a material impact on passenger revenues, which were 71% lower in the year to October 31 compared to 2019.

But it added that its Irish Ferries ro-ro freight carryings have been more robust with retention of full freight schedules providing critical logistical links to the island of Ireland, with ro-ro freight carryings up 4% compared with 2019.

Further coverage from RTE News in addition a link to consult ICG's trading statement in full. 

Published in Ferry
Jehan Ashmore

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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Ferry & Car Ferry News The ferry industry on the Irish Sea, is just like any other sector of the shipping industry, in that it is made up of a myriad of ship operators, owners, managers, charterers all contributing to providing a network of routes carried out by a variety of ships designed for different albeit similar purposes.

All this ferry activity involves conventional ferry tonnage, 'ro-pax', where the vessel's primary design is to carry more freight capacity rather than passengers. This is in some cases though, is in complete variance to the fast ferry craft where they carry many more passengers and charging a premium.

In reporting the ferry scene, we examine the constantly changing trends of this sector, as rival ferry operators are competing in an intensive environment, battling out for market share following the fallout of the economic crisis. All this has consequences some immediately felt, while at times, the effects can be drawn out over time, leading to the expense of others, through reduced competition or takeover or even face complete removal from the marketplace, as witnessed in recent years.

Arising from these challenging times, there are of course winners and losers, as exemplified in the trend to run high-speed ferry craft only during the peak-season summer months and on shorter distance routes. In addition, where fastcraft had once dominated the ferry scene, during the heady days from the mid-90's onwards, they have been replaced by recent newcomers in the form of the 'fast ferry' and with increased levels of luxury, yet seeming to form as a cost-effective alternative.

Irish Sea Ferry Routes

Irrespective of the type of vessel deployed on Irish Sea routes (between 2-9 hours), it is the ferry companies that keep the wheels of industry moving as freight vehicles literally (roll-on and roll-off) ships coupled with motoring tourists and the humble 'foot' passenger transported 363 days a year.

As such the exclusive freight-only operators provide important trading routes between Ireland and the UK, where the freight haulage customer is 'king' to generating year-round revenue to the ferry operator. However, custom built tonnage entering service in recent years has exceeded the level of capacity of the Irish Sea in certain quarters of the freight market.

A prime example of the necessity for trade in which we consumers often expect daily, though arguably question how it reached our shores, is the delivery of just in time perishable products to fill our supermarket shelves.

A visual manifestation of this is the arrival every morning and evening into our main ports, where a combination of ferries, ro-pax vessels and fast-craft all descend at the same time. In essence this a marine version to our road-based rush hour traffic going in and out along the commuter belts.

Across the Celtic Sea, the ferry scene coverage is also about those overnight direct ferry routes from Ireland connecting the north-western French ports in Brittany and Normandy.

Due to the seasonality of these routes to Europe, the ferry scene may be in the majority running between February to November, however by no means does this lessen operator competition.

Noting there have been plans over the years to run a direct Irish –Iberian ferry service, which would open up existing and develop new freight markets. Should a direct service open, it would bring new opportunities also for holidaymakers, where Spain is the most visited country in the EU visited by Irish holidaymakers ... heading for the sun!

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