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Displaying items by tag: Revenue Rise 2017

#Ports&Shipping - Irish Continental Group (ICG) operates in two divisions; Irish Ferries which offers passenger and roll-on roll-off (ro-ro) freight services and the container and terminal divisions. 

ICG issued today results for the year ended December 31st 2017 (see related coverage)

Afloat adds ICG's shipping container subsidiary, Eucon provides a lift on/lift off (lo-lo) service between Ireland and mainland Europe, connecting the ports of Dublin, Cork and Belfast, with Antwerp, Belgium and Rotterdam, The Netherlands.

Below is a summary extract and results only regarding the container and terminal divisions.

For complete results of the Irish-based maritime transport group, click HERE. 

Revenue in container division increased to €131.9 million (2016: €123.9 million).

The revenue is derived from container handling and related ancillary revenues at our terminals and in Eucon from a mix of domestic door-to-door, quay-to-quay and feeder services with 69% (2016: 70%) of shipping revenue generated from imports into Ireland.

Operating with a flexible chartered fleet and slot charter arrangements Eucon was able to adjust capacity and thereby continue to meet the requirements of customers in a cost effective and efficient manner. EBITDA in the division increased to €13.7 million (2016: €12.8 million) while EBIT rose 8.7% to €11.2 million (2016: €10.3 million).

Overall, Eucon container volumes shipped increased by 5.9% compared with the previous year to 321,400 teu (2016: 303,600 teu). The resulting revenue increase was partially offset by a €2.9 million increase in fuel costs.

Containers handled by the Group’s terminal operations in Dublin Ferryport Terminals (DFT) and Belfast Container Terminal (BCT) rose by 3.0% at 296,800 lifts (2016: 288,100 lifts).

DFT’s volumes grew by 4.7%, while BCT’s volumes increased by 0.7%.

Containership fleet review operations. 

The container vessel MV Ranger remains on time charter to a third party and is currently trading in north-west Europe. The MV Elbtrader (pictured above) MV Elbcarrier and MV Elbfeeder remain on time charter to Eucon.

Published in Ports & Shipping

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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