Displaying items by tag: Trading Results

29th July 2022

Port of Waterford Announces Trading Activity for 2021 and First Half of 2022

The Port of Waterford has recently announced its trading activity for 2021 and the 1st half of 2022.

Financial Results 2021

The financial statements for 2021 have recently been laid before the Oireachtas and are now available on the Company website, The Company is reporting operating profits for the financial year of €1.1 million, up from the €0.7 million recorded in 2020. Turnover was €7.7m (2020: €7.2m) and shareholder’s funds ended the year at €34m.

Bulk throughput in 2021 came in at 1.7 million tonnes, an 11% increase on 2020, while containers handled remained broadly in line with 2020.

Activity 1st Half 2022

The business is again showing positive momentum in 2022 with bulk handling ahead of 2021 by over 12% at the half year and laden container throughput up 5% on last year.

Comment

Frank Ronan, Chief Executive, said: ‘The Port performed well in 2021 despite the many challenges we all faced in that year. We have seen further recovery in the 1st half of 2022 in our parking income, continued growth in bulk and container volumes and an overall step up in developmental activity. However, as in other areas of the economy, we too are experiencing significant cost pressures and volatility in some throughputs as we move into the second half of the year. The Company is very well placed to handle a significant level of onshore renewable wind projects in the coming years and well positioned to support the offshore industry as it gears up for major investment later this decade’.

Cruise Tourism

Frank Ronan concluded by welcoming the return of cruise ships visiting Waterford Harbour during this summer. He noted: ‘We are delighted to be working with the local Cruise Co-operative and Dunmore East Fishery Harbour again to deliver business for our region’s tourism and hospitality operators. The return of these visitors is particularly welcome following on from what has been a really difficult time for this sector’.

Published in Irish Ports

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About the Golden Globe Race

The Golden Globe Race is the original round the world yacht race. In 1968, while man was preparing to take his first steps on the moon, a mild mannered and modest young man was setting out on his own record breaking voyage of discovery. Off shore yacht racing changed forever with adventurers and sailors, inspired by Sir Robin Knox-Johnston, following in his pioneering wake. Nine men started the first solo non-stop sailing race around the World. Only one finished. History was made. Navigating with a sextant, paper charts and an accurate and reliable time piece, Sir Robin navigated around the world. In 2018, to celebrate 50 years since that first record breaking achievement, the Golden Globe Race was resurrected. It instantly caught the attention of the worlds media as well as adventures, captivated by the spirit and opportunity. The original race is back.

The Golden Globe Race: Stepping back to the golden age of solo sailing

Like the original Sunday Times event back in 1968/9, the 2018 Golden Globe Race was very simple. Depart Les Sables d'Olonne, France on July 1st 2018 and sail solo, non-stop around the world, via the five Great Capes and return to Les Sables d'Olonne. Entrants are limited to use the same type of yachts and equipment that were available to Robin Knox-Johnston in that first race. That means sailing without modern technology or benefit of satellite-based navigation aids.

Competitors must sail in production boats between 32ft and 36ft overall (9.75 10.97m) designed prior to 1988 and having a full-length keel with rudder attached to their trailing edge. These yachts will be heavily built, strong and steady, similar in concept to Robin's 32ft vessel Suhaili.

In contrast to the current professional world of elite ocean racing, this edition travels back to a time known as the 'Golden Age' of solo sailing. Suhaili was a slow and steady 32ft double-ended ketch based on a William Atkins ERIC design. She is heavily built of teak and carried no computers, GPS, satellite phone nor water-maker, and Robin completed the challenge without the aid of modern-day shore-based weather routing advice. He had only a wind-up chronometer and a barograph to face the world alone, and caught rainwater to survive, but was at one with the ocean, able to contemplate and absorb all that this epic voyage had to offer.

This anniversary edition of the Golden Globe Race is a celebration of the original event, the winner, his boat and that significant world-first achievement. Competitors in this race will be sailing simple boats using basic equipment to guarantee a satisfying and personal experience. The challenge is pure and very raw, placing the adventure ahead of winning at all costs. It is for 'those who dare', just as it was for Knox-Johnston.

They will be navigating with sextant on paper charts, without electronic instruments or autopilots. They will hand-write their logs and determine the weather for themselves.

Only occasionally will they talk to loved ones and the outside world when long-range high frequency and ham radios allow.

It is now possible to race a monohull solo around the world in under 80 days, but sailors entered in this race will spend around 300 days at sea, challenging themselves and each other. The 2018 Golden Globe Race was a fitting tribute to the first edition and it's winner, Sir Robin Knox-Johnston.

Background on Don McIntyre (61) Race Founder

Don is an inveterate sailor and recognised as one of Australia s greatest explorers. Passionate about all forms of adventure and inspiring others, his desire is to recreate the Golden Age of solo sailing. Don finished 2nd in class in the 1990-91 BOC Challenge solo around the world yacht race. In 2010, he led the 4-man Talisker Bounty Boat challenge to re-enact the Mutiny on the Bounty voyage from Tonga to West Timor, in a simil