Shannon Foynes Port Achieved Record Profit Last Year

2nd September 2020

Jehan Ashmore

Shannon Foynes Port: it achieved a record profit before tax of €4.9m last year. Above Afloat adds is bulk-carrier Sunrise Serenity with assistance from Foynes based operator Celtic Tugs, part of the Mainport Group. Credit: SFPC-twitter

The government-owned Shannon Foynes Port achieved a record profit before tax of €4.9 million last year, its annual report shows.

The port's profit, which was up from €4.4 million in 2018, was achieved despite an overall reduction in tonnages on the year before.

The facility on the Shannon estuary, which is the country’s largest bulk port for non-container freight, pointed out that 2018 was a record year for tonnage throughput due to elevated agricultural inputs arising from the drought-imposed fodder crisis.

Turnover decreased by 4.6 per cent to just under €14 million, down from €14.7 million in 2018.

Year-on-year overall tonnage throughput decreased by 10 per cent to 9.6 million tonnes, with reduced imports of coal for electricity generation accounting for most of this reduction.

The Irish Times has more here

Published in Shannon Estuary

Tagged under

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.

You might also want to read...

Shannon Foynes Port Information

Shannon Foynes Port (SFPC) are investing in an unprecedented expansion at its general cargo terminal, Foynes, adding over two-thirds the size of its existing area. In the latest phase of a €64 million investment programme, SFPC is investing over €20 million in enabling works alone to convert 83 acres on the east side of the existing port into a landbank for marine-related industry, port-centric logistics and associated infrastructure. The project, which will be developed on a phased basis over the next five years, will require the biggest infrastructure works programme ever undertaken at the port, with the entire 83 acre landbank having to be raised by 4.4 metres. The programme will also require the provision of new internal roads and multiple bridge access as well as roundabout access.