Menu

Ireland's sailing, boating & maritime magazine

Displaying items by tag: Increased Profits

The parent company of Irish Ferries, the Irish Continental Group, has today reported higher profits for 2023, but this was set back as its revenues dipped against background challenges of high inflation coupled with a slowdown in global trade.

According to the Dublin maritime transport group, its pre-tax profits for the year to the end of December had risen to €63.3 million from €62.5 million in 2022.

As for operating profits, they were driven from their ferry division, which saw a rise of 2.5% to €68.4 million from €66.7 million, which reflects a strong performance by Irish Ferries. 

The ferry brand operates routes on the Irish Sea (Dublin-Holyhead/Rosslare-Pembroke), a direct service to France (Dublin-Cherbourg), and on the Strait of Dover, linking between the UK’s busiest ferryport and Calais.

Among the operator's fleet, is the chartered in Oscar Wilde which has since made its debut on routes to Wales and France, and has also returned to the Rosslare-Pembroke route from where it entered service last year. As in the above photo caption, Afloat.ie reports on the cruiseferry which is currently on relief duties for ropax Norbay while in dry dock.

Returning to ICG accounts, where revenues achieved for the year, however, eased by 2.2% to €572 million from €584.9 million.

For more RTE News reports on details of ICG’s financial accounts, which also include divisions involving container operations and related terminals based in Dublin and Belfast.

In addition the coverage refers to the Oscar Wilde, as alluded above and which in 2024 the cruiseferry will operate on the Dublin-Holyhead and Dublin-Cherbourg routes.

Published in Irish Ferries

#ProfitsUp - The Port of Cork through increased activity saw profits increase by 79% to almost €4.5m last year, reports the Irish Examiner.

The State-owned company, which oversees port operations in Cork, saw revenue from charges to port users and property rental increase by 12.9% to €29.8m.

Ireland’s second busiest port also reported growth in the volume of goods passing through Cork in 2015 – up 8.6% to 11.02 million tonnes – although there was a slight decrease in the actual number of vessels – down 10 to 1,174.

In its annual report the company welcomed the decision by An Bord Pleanála, last May, to grant planning permission for a €100m redevelopment at Ringaskiddy which it described as a “critical infrastructure project”.

To read more click here

Published in Port of Cork

The Kingstown to Queenstown Yacht Race or 'K2Q', previously the Fastnet 450

The Organising Authority ("OA") are ISORA & SCORA in association with The National Yacht Club & The Royal Cork Yacht Club.

The Kingstown to Queenstown Race (K2Q Race) is a 260-mile offshore race that will start in Dun Laoghaire (formerly Kingstown), around the famous Fastnet Rock and finish in Cork Harbour at Cobh (formerly Queenstown).

The  K2Q race follows from the successful inaugural 'Fastnet 450 Race' that ran in 2020 when Ireland was in the middle of the COVID Pandemic. It was run by the National Yacht Club, and the Royal cork Yacht Club were both celebrating significant anniversaries. The clubs combined forces to mark the 150th anniversary of the National Yacht Club and the 300th (Tricentenary) of the Royal Cork Yacht Club.

Of course, this race has some deeper roots. In 1860 the first-ever ocean yacht race on Irish Waters was held from Kingstown (now Dun Laoghaire) to Queenstown (now Cobh).

It is reported that the winner of the race was paid a prize of £15 at the time, and all competing boats got a bursary of 10/6 each. The first race winner was a Schooner Kingfisher owned by Cooper Penrose Esq. The race was held on July 14th 1860, and had sixteen boats racing.

In 2022, the winning boat will be awarded the first prize of a cheque for €15 mounted and framed and a Trophy provided by the Royal Cork Yacht Club, the oldest yacht club in the world.

The 2022 race will differ from the original course because it will be via the Fastnet Rock, so it is a c. 260m race, a race distance approved by the Royal Cornwall Yacht Club as an AZAB qualifier. 

A link to an Afloat article written by WM Nixon for some history on this original race is here.

The aim is to develop the race similarly to the Dun Laoghaire–Dingle Race that runs in alternate years. 

Fastnet 450 in 2020

The South Coast of Ireland Racing Association, in association with the National Yacht Club on Dublin Bay and the Royal Cork Yacht Club in Cork, staged the first edition of this race from Dun Laoghaire to Cork Harbour via the Fastnet Rock on August 22nd 2020.

The IRC race started in Dun Laoghaire on Saturday, August 22nd 2020. It passed the Muglin, Tuscar, Conningbeg and Fastnet Lighthouses to Starboard before returning to Cork Harbour and passing the Cork Buoy to Port, finishing when Roches's Point bears due East. The course was specifically designed to be of sufficient length to qualify skippers and crew for the RORC Fastnet Race 2021.

At A Glance – K2Q (Kingstown to Queenstown) Race 2024

The third edition of this 260-nautical mile race starts from the National Yacht Club on Dublin Bay on July 12th 2024 finishes in Cork Harbour.

Featured Sailing School

INSS sidebutton

Featured Clubs

dbsc mainbutton
Howth Yacht Club
Kinsale Yacht Club
National Yacht Club
Royal Cork Yacht Club
Royal Irish Yacht club
Royal Saint George Yacht Club

Featured Brokers

leinster sidebutton

Featured Webcams

Featured Associations

ISA sidebutton
ICRA
isora sidebutton

Featured Marinas

dlmarina sidebutton

Featured Chandleries

CHMarine Afloat logo
https://afloat.ie/resources/marine-industry-news/viking-marine

Featured Sailmakers

northsails sidebutton
uksails sidebutton
watson sidebutton

Featured Blogs

W M Nixon - Sailing on Saturday
podcast sidebutton
BSB sidebutton
wavelengths sidebutton
 

Please show your support for Afloat by donating