Menu

Ireland's sailing, boating & maritime magazine

Operating Profits at Port of Waterford Drop Due to Pandemic

3rd August 2021
The Port of Waterford is showing positive momentum this year. Above Afloat adds is the port's main terminal, Belview located on the Suir, with bulk-carriers berthed. The Port of Waterford is showing positive momentum this year. Above Afloat adds is the port's main terminal, Belview located on the Suir, with bulk-carriers berthed. Credit: Port of Waterford-twitter

Operating profits at the Port of Waterford for 2020 were €0.7 million, down from the €1.2 million recorded in 2019 during a period of trading set against the pandemic.

The Port's turnover was €7.2m for the year a reduction of 8% against 2019 and shareholder’s funds ended the year at €33m.

Bulk throughput in 2020 came in at 1.5 million tonnes, a 3% decrease on 2019, while the levels of container shipment handled grew by 2%.

The company said that for the first half of 2021, the business is showing very positive momentum despite the continued challenges posed by the pandemic in the ability to drive car park and cruise income.

Bulk handling (see photo) is currently ahead of 2020 by over 20% at this year’s halfway point and container handling is also holding up well and in-line with 2020 levels.

Further reading from RTE News.

Published in Irish Ports
Jehan Ashmore

About The Author

Jehan Ashmore

Email The Author

Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals. 

We've got a favour to ask

More people are reading Afloat.ie than ever thanks to the power of the internet but we're in stormy seas because advertising revenues across the media are falling fast. Unlike many news sites, we haven’t put up a paywall because we want to keep our marine journalism open.

Afloat.ie is Ireland's only full–time marine journalism team and it takes time, money and hard work to produce our content.

So you can see why we need to ask for your help.

If everyone chipped in, we can enhance our coverage and our future would be more secure. You can help us through a small donation. Thank you.

Direct Donation to Afloat button

As an island economy, a healthy maritime sector is key to our national competitiveness. Virtually all our imports and exports pass through Irish ports.

Ireland is dependent on ports and shipping services to transport goods and 90% of our trade is moved though Irish ports. Shipping and maritime transport services make a significant contribution to Ireland’s ocean economy, with the sector generating €2.3 billion in turnover and employing over 5,000 people in 2018.

Ireland’s maritime industry continues to grow and progress each year with Irish ports and shipping companies making significant investments. The ports sector in Ireland is currently undergoing a number of expansions and developments with Dublin Port’s Alexandra Basin development, the development of Ringaskiddy in Cork by Port of Cork and the development of Shannon Foynes Port. Along with these major investments, shipping companies are also investing heavily in new tonnage, with Irish Ferries, CLdN and Stena leading new build programmes.

These pages cover the following sectoral areas: shipowners, harbour authorities, shipbrokers, freight forwarders and contractors, cruise liner operators, port users, seamen, merchants, academic institutions, shipyards and repair facilities, naval architects, navy and defence personnel.

Our pages are covering some of the most notable arrivals around our coast and reporting too on port development and shipping news.

This section of the site deals with Port and Shipping News on our largest ports Dublin Port, Port of Cork, the Shannon Estuary, Galway Harbour and Belfast Lough.

A recent study carried out for the Irish Ports Association (IPA) totalled 75.7 billion during 2004 and their net economic impact was some 5.5 billion supporting around 57, 500 full time employees.

Liam Lacey, Director of the Marine Institute’s Irish Maritime Development Office (IMDO) said, “The Irish maritime industry can look to the future with confidence. It has shown itself to be resilient and agile in responding to challenges. Over the past decade, it has had to respond to the challenges of the financial crisis of 2008, the uncertainty surrounding Brexit and recent challenges. Ireland’s maritime sector has continued to underpin our economy by maintaining vital shipping links for both trade and tourism.”