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Displaying items by tag: ICG H1 results

Dublin based Irish Ferries, owned by Irish Continental Group (ICG) has reported lower pre-tax profits and flat revenues for the six months of this year reports RTE News.

The results from the half-year report to the end of June, is amid the continued return towards pre-pandemic travel patterns after the disruption caused by Covid-19.

The Irish-based maritime transport group said its half year revenues increased by 0.3% to €264m while its pre-tax profits fell by 9.1% to €16.2m from €17.4m the same time last year.

ICG declared an interim dividend of 4.87 cent per share, this is up from the dividend of last year’s 4.64 cent.

In May, ICG chartered the former Baltic Sea cruise ferry Oscar Wilde for an initial 20 month period and Afloat adds with the option to extend by two, plus two years and purchase. The 2,080 passenger ferry entered service on the Rosslare-Pembroke route having replaced another chartered ferry the Blue Star 1.

The continued normalisation in passenger travel levels after Covid had benefitted the Group in all its markets. This was reflected with growth in its Roll on Roll off (RoRo) freight carryings and the strengthening of its position on the short-sea Dover-Calais route competing with P&O Ferries and DFDS.

ICG said the continued return of ferry passenger travel alongside continued support of its freight customers on both its old and new routes (the UK-France route launched in 2021) resulted in the highest ever revenue levels in the ferries division.

More here on the H1 results for 2023.

Published in Irish Ferries

Galway Port & Harbour

Galway Bay is a large bay on the west coast of Ireland, between County Galway in the province of Connacht to the north and the Burren in County Clare in the province of Munster to the south. Galway city and port is located on the northeast side of the bay. The bay is about 50 kilometres (31 miles) long and from 10 kilometres (6.2 miles) to 30 kilometres (19 miles) in breadth.

The Aran Islands are to the west across the entrance and there are numerous small islands within the bay.

Galway Port FAQs

Galway was founded in the 13th century by the de Burgo family, and became an important seaport with sailing ships bearing wine imports and exports of fish, hides and wool.

Not as old as previously thought. Galway bay was once a series of lagoons, known as Loch Lurgan, plied by people in log canoes. Ancient tree stumps exposed by storms in 2010 have been dated back about 7,500 years.

It is about 660,000 tonnes as it is a tidal port.

Capt Brian Sheridan, who succeeded his late father, Capt Frank Sheridan

The dock gates open approximately two hours before high water and close at high water subject to ship movements on each tide.

The typical ship sizes are in the region of 4,000 to 6,000 tonnes

Turbines for about 14 wind projects have been imported in recent years, but the tonnage of these cargoes is light. A European industry report calculates that each turbine generates €10 million in locally generated revenue during construction and logistics/transport.

Yes, Iceland has selected Galway as European landing location for international telecommunications cables. Farice, a company wholly owned by the Icelandic Government, currently owns and operates two submarine cables linking Iceland to Northern Europe.

It is "very much a live project", Harbourmaster Capt Sheridan says, and the Port of Galway board is "awaiting the outcome of a Bord Pleanála determination", he says.

90% of the scrap steel is exported to Spain with the balance being shipped to Portugal. Since the pandemic, scrap steel is shipped to the Liverpool where it is either transhipped to larger ships bound for China.

It might look like silage, but in fact, its bales domestic and municipal waste, exported to Denmark where the waste is incinerated, and the heat is used in district heating of homes and schools. It is called RDF or Refuse Derived Fuel and has been exported out of Galway since 2013.

The new ferry is arriving at Galway Bay onboard the cargo ship SVENJA. The vessel is currently on passage to Belem, Brazil before making her way across the Atlantic to Galway.

Two Volvo round world races have selected Galway for the prestigious yacht race route. Some 10,000 people welcomed the boats in during its first stopover in 2009, when a festival was marked by stunning weather. It was also selected for the race finish in 2012. The Volvo has changed its name and is now known as the "Ocean Race". Capt Sheridan says that once port expansion and the re-urbanisation of the docklands is complete, the port will welcome the "ocean race, Clipper race, Tall Ships race, Small Ships Regatta and maybe the America's Cup right into the city centre...".

The pandemic was the reason why Seafest did not go ahead in Cork in 2020. Galway will welcome Seafest back after it calls to Waterford and Limerick, thus having been to all the Port cities.

© Afloat 2020