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Displaying items by tag: investment

#BUDGET - Coastguard and lifeboat services, mountain rescue and the Commissioners of Irish Lights will not face any further funding cuts in the latest Budget, according to the Minister for Transport.

The Irish Times reports that, following the reduction of his department's budget, Minister Leo Varakdar stated that substantial cuts have already occurred in the maritime safety sector.

Moreover, he announced an increase in the maritime budget from €70.5 million to €80.3 million, due to provisions for the new Irish Coast Guard helicopter contract.

Earlier this week, Minister for Agriculture, Food and the Marine, Simon Coveney, underlined the importance of the marine sector to Ireland's coastal communities.

As previously reported on Afloat.ie, Minister Coveney announced a round of expenditure estimates on Monday which include increased funding for investment in processing, aquaculture and fishery harbours.

Published in Budget
Two students at NUI Galway have won a €15,000 investment in an enterprise competition for their website promoting surfing in Ireland.
Oisin Halpin and Cian Brassil of WestCoastSurfer.com took the top prize at the NUI Galway Student Enterprise Awards earlier this month, with judges convinced by their brand and ability to attract investment to the region, according to Silicon Republic.
“WestCoastSurfer.com has huge growth potential and is well grounded in commercial reality with great opportunities for the West of Ireland,” said chairperson of the judging panel Helen Ryan.

Two students at NUI Galway have won a €15,000 investment in an enterprise competition for their website promoting surfing in Ireland.

Oisin Halpin and Cian Brassil of WestCoastSurfer.com took the top prize at the NUI Galway Student Enterprise Awards earlier this month, with judges convinced by their brand and ability to attract investment to the region, according to Silicon Republic.

“WestCoastSurfer.com has huge growth potential and is well grounded in commercial reality with great opportunities for the West of Ireland,” said chairperson of the judging panel Helen Ryan.

Published in Surfing
Scotland's west coast will be home to the world's largest tidal power facility, it has been announced.
The £40 million (€45.9 million) 10MW tidal array, to be developed by ScottishPower Renewables in the Sound of Islay, will generate power for more than 5,000 homes.
Scottish Cabinet Secretary for Finance John Swinney, who signed off on the deal, described the project as "a milestone in the global development of tidal energy".
"Scotland's seas have unrivalled potential to generate green energy, create new, low carbon jobs, and bring billions of pounds of investment to Scotland," he said.
The project comes in tandem with the consultation process for the Scottish government's National Marine Plan, intended to highlight the best opportunities for investment across all marine industries.
Energy & Environmental Management has more in the story HERE.

Scotland's west coast will be home to the world's largest tidal power facility, it has been announced.

The £40 million (€45.9 million) 10MW tidal array, to be developed by ScottishPower Renewables in the Sound of Islay, will generate power for more than 5,000 homes.

Scottish Cabinet Secretary for Finance John Swinney, who signed off on the deal, described the project as "a milestone in the global development of tidal energy".

"Scotland's seas have unrivalled potential to generate green energy, create new, low carbon jobs, and bring billions of pounds of investment to Scotland," he said.

The project comes in tandem with the consultation process for the Scottish government's National Marine Plan, intended to highlight the best opportunities for investment across all marine industries. 

Energy & Environmental Management has more on the story HERE.

Published in Power From the Sea
Page 2 of 2

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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