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Displaying items by tag: StateAid

Minister for Transport and Tourism Dr. Leo Varadkar T.D. has warned that if state-owned ports get into financial difficulties they could become under the control of local authorities, as reported in todays' Irish Independent.
The minister was addressing a conference yesterday hosted by Dublin Port Company which was discussing it master development plans to 2040. He said that his department was assessing whether the government should retain ownership of ports following last month's publication of state assets led by economist Colm McCarthy.

In the report it was noted that there are too many ports and that the sector would benefit from a rationalisation of ownership and management structures. The decision which will be made over the next few months not only concerns the fate of the capital port but also the following state-owned ports: Dun Laoghaire, Waterford, Drogheda, Dundalk, Cork, Shannon Foynes, Wicklow, New Ross and Galway.

Mr Varadkar also warned that state money wouldn't be made available to bolster ports' balance sheets. "Where port companies are not successful, there will no bailouts and there will be no state aid. "It just isn't possible for the Government in the situation it's in to offer that," he said.

"Where smaller ports find themselves unable to continue operations, amalgamations or transfers to local authorities will be the preferred option."

On the issue of selling Dublin Port the company's chief executive Mr. Eamon O'Reilly who has cited previously that the port should not be sold as a private operator would not have the same incentive to invest as they would be focusing on generating returns.

As for the masterplan, he emphasised that the port would need to double its capacity so to handle the expected trade levels by 2040. He conceded the masterplan will cause some controversy but said the port has "great potential" to facilitate economic growth and make Dublin a better city to live in.

Published in Ports & Shipping

About boot Düsseldorf: With almost 250,000 visitors, boot Düsseldorf is the world's largest boat and water sports fair and every year in January the “meeting place" for the entire industry. From 18 to 26 January 2020, around 2,000 exhibitors will be presenting their interesting new products, attractive further developments and maritime equipment. This means that the complete market will be on site in Düsseldorf and will be inviting visitors on nine days of the fair to an exciting journey through the entire world of water sports in 17 exhibition halls covering 220,000 square meters. With a focus on boats and yachts, engines and engine technology, equipment and accessories, services, canoes, kayaks, kitesurfing, rowing, diving, surfing, wakeboarding, windsurfing, SUP, fishing, maritime art, marinas, water sports facilities as well as beach resorts and charter, there is something for every water sports enthusiast.

At A Glance – Boot Dusseldorf 

Organiser
Messe Düsseldorf GmbH
Messeplatz
40474 Düsseldorf
Tel: +49 211 4560-01
Fax: +49 211 4560-668
Web: https://www.boot.com/

The first boats and yachts will once again be arriving in December via the Rhine.

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