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.