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Displaying items by tag: Tallship Value Sinks

#JeanieJohnston - The Irish Times reports that the replica famine tallship, Jeanie Johnston which cost €15 million to build, has sunk in value to €700,000, according to Dublin City Council.

The ship is part of €8 million in cash and assets expected to transfer to the council as previously reported on Afloat.ie once the Dublin Docklands Development Authority is abolished later this year.

The authority bought the ship in 2005 for €2.7 million from Kerry County Council and other shareholders including food company Kerry Group, Shannon Development Company and Tralee Town Council.

The ship, modelled on a 19th century emigrant ship, was commissioned in the late 1990s for £4.5 million. By the time of its completion in 2002, its cost had spiralled to almost €15.5 million, €13 million of which was State funded.

For more on this story about the tall-ship, click HERE.

Published in Tall Ships

About the Loughs Agency

The Loughs Agency is a governmental body established under the 1998 Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Ireland. The Agency's goal is to provide sustainable social, economic, and environmental benefits by effectively conserving, managing, promoting, and developing the fisheries and marine resources of the Foyle and Carlingford areas.

The Agency's governing legislation confers several specific functions, including the promotion of development of Lough Foyle and Carlingford Lough for commercial and recreational purposes in respect of marine, fishery, and aquaculture matters. Moreover, the Agency is responsible for managing, conserving, protecting, improving, and developing the inland fisheries of the Foyle and Carlingford areas. Additionally, the Agency has the task of developing and licensing aquaculture, as well as the development of marine tourism.

The Loughs Agency reports to the North South Ministerial Council and its government Sponsor Departments, the Department of Agriculture, Environment and Rural Affairs (DAERA) in Northern Ireland, and the Department of the Environment, Climate, and Communications (DECC) in Ireland. The Departments fund the Agency on an equal basis.

The Loughs Agency's focus on sustainable development is expected to have a positive impact on the economy, environment, and local communities in the Foyle and Carlingford areas. The Agency's efforts to conserve and enhance the region's marine resources, including fisheries and aquaculture, are expected to benefit local communities, promote tourism, and contribute to economic growth.

In conclusion, the Loughs Agency plays a vital role in promoting the sustainable social, economic, and environmental development of the Foyle and Carlingford areas. Its work on marine conservation and development is crucial in ensuring the long-term viability of the region's natural resources and in promoting sustainable economic growth.