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Displaying items by tag: Minister for Transport Leo Varadkar

#FerryBOOST- Minister for Transport, Leo Varadkar has welcomed Irish Ferries decision as previously reported, to add two extra daily services on the Holyhead-Dublin route next month and with a new vessel to boost tourism and significantly increase freight capacity.

"This investment represents a significant increase in capacity on the route and is a real vote of confidence in our tourism industry. The timing of this announcement couldn't be more welcome, as we are preparing to build on the success of The Gathering next year," Minister Varadkar said.

"The importance of ferries to Irish tourism is often overlooked but they provide a vital link to the UK and Europe. "I'm also very glad to hear that Irish Ferries believes the Irish economy has turned a corner, and that the company is prepared to invest in extra capacity to service the freight sector."

 

Published in Ferry

#DublinPortAGM – At the AGM of the Dublin Port Company today, it was announced that the port will pay a €7m dividend to the State in June 2013 based on its financial results for the year ended 31 December 2012.

The dividend represents a distribution of 30.7% of profit after tax and brings total dividend payments to the State to €53.8m over the last seven years.

While there were headline reductions in Turnover and Profit after tax, the underlying profitability of the business remained strong in 2012 with Operating Profit increasing by 4.6% from €27.8m to €29.1m.

At today's AGM the Annual Report for 2012 was presented to the Company's shareholders in advance of publication later this year after it has been laid before the Houses of the Oireachtas.

Speaking about the financial performance of Dublin Port Company for 2012, Minister for Transport, Tourism and Sport Leo Varadkar said: "I commend Dublin Port Company on its financial performance in 2012 and for once again paying a dividend to taxpayers. Dublin Port is an exemplary company which has consistently paid a dividend to the State at or above the level expected by Government.

The Port plays a crucial role for the economy at local and national level, which was acknowledged in the Government's recently published National Ports Policy."

Addressing Dublin Port Company's AGM, Ms Lucy McCaffrey, the Company's Chairperson said: I was pleased to present the company's annual report for 2012 to our shareholders and to confirm to the representatives of the Minister for Transport, Tourism and Sport and Minister for Public Expenditure and Reform that the company will pay a dividend of €7m to the State in June 2013.

The continued strength of the company's finances will ensure that the company is well positioned to deliver the key infrastructural developments envisaged in the Masterplan 2012-2040 which the company launched last year.

 

Published in Dublin Port

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!