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Displaying items by tag: Impact of Brexit

It is estimated that Brexit has led to a 45% reduction in goods imports coming from the UK to Ireland according to the Economic and Social Research Institute.

As RTE News reports, in its opening statement to the Seanad Brexit Committee, the ERSI sets out the impact of Brexit on Ireland on goods trade.

While imports from the UK are down, the think tank explains that in contrast, there has been "very little reduction observed over the past year" in Irish exports to the UK.

However, some individual sectors have experienced very large falls in exports, such as the food and beverage sector.

The ESRI estimates that Brexit led to a 25% reduction in Irish food exports to the UK and 40% reductions in beverage exports in the first half of 2021.

Imports coming from the UK to Ireland accounted for 33% of Irish imports in 2019, compared to 12% now.

Exports from Ireland to the UK have fallen from 14% to 8%.

For further findings, click here.

Published in Ports & Shipping

The UK Government reports NorthWalesLive, has not considered the impact of Boris Johnson's Brexit plan will have on Holyhead Port, a minister has said.

Michael Gove (who visited the ferryport in August) is the UK Government's Brexit planning minister and he told Welsh Assembly Members that no economic impact assessment had been carried out on how the Prime Minister's plan will impact the port.

In a meeting with the Welsh Assembly's External Affairs Committee, Mr Gove said it was difficult to carry out an assessment on the impact on the UK's second busiest ferryport.

He said: "It’s difficult to have an impact assessment because there are so many variables in play and I always remember the words of the economist JK Galbraith who said that economic forecasting was invented in order to give astrology a good name.”

He argued that Holyhead on Anglesey "will be in a stronger position than ever" if Boris Johnson's new deal is passed by MPs.

A deal has been agreed between the UK and the EU negotiating teams, which experts have said will effectively create a customs border between Great Britain and the island of Ireland.

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Published in Ferry

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!