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Displaying items by tag: Shannon Foynes Port Company

The Shannon Estuary can become an international floating offshore wind and related green fuels generation hub, according to the Chief Executive of the Port Company, Pat Keating, who today welcomed the expression of interest’ tender for works on the 42km Limerick-Foynes rai line.

“The re-generation of the rail line is one of two transport links essential for delivering on the unprecedented opportunity for the estuary as a global floating offshore wind energy and transhipment hub. It will be of great benefit to the wider project, but even more essential is the road link to Foynes,” he said.

“The expression of interest tender is a very significant moment within our wider plans to capitalise on the unprecedented opportunity for the Shannon Estuary as it gives even greater certainty that this important rail connectivity is going to happen. This is a strategic move that will enhance connectivity to Foynes port but also help to decarbonise the supply chain by transferring significant cargo tonnages from road to rail. “However, the primary access to and from Foynes will still be road and it’s essential that the Foynes to Limerick road goes ahead as soon as possible. It will carry by far the majority of goods to and from Foynes, goods and materials that rail cannot accommodate. So, while we are delighted with an announcement regarding the reinstatement of rail, we look forward to an early commitment, too, on the Foynes to Limerick road,” he said.

“We appreciate the expediency regarding the rail reinstatement but it is essential, too, that we get moving on addressing our road infrastructure. Shannon Foynes is a Core Corridor Port under the EU’s Ten-t Regulations. These regulations require that upgraded hinterland connections, ie road and rail, are in place by 2030.

“The Shannon Estuary can become an international floating offshore wind and related green fuels generation hub, but our current road network links are an impediment to that. We must move quickly, however, as time is not on our side when it comes to energy security and climate change. The Estuary can be an enabler for addressing those critical issues for not just Ireland but Europe, with transformative economic as well as environmental impact, but it won’t happen without the necessary infrastructure,” he said.

Mr Keating added that the rail project is also very much endorsed at European level. “In 2015 we secured €800,000 from the EU’s Connecting Europe Facility for a Feasibility and Detailed Design study, including all associated consenting requirements, for the regeneration of the rail link in 2015. Those works were completed in 2019 and were part funded also by Shannon Foynes Port Company and undertaken by Irish Rail. As a result, the reinstatement of the 40kms Limerick to Foynes line is now shovel-ready, so moving to this next ‘expressions of interest’ stage to realise this opportunity is a key moment.”

Published in Shannon Estuary

#IrishPorts - Transport Minister Paschal Donohoe has today (Friday 10 July) welcomed the announcement by the European Commission that a number of projects – including developments across three Irish ports – have been recommended for co-funding under the Connecting Europe Facility (CEF).

"This is good news and a further boost for infrastructure investment in Ireland," said Minister Donohoe. "The recommendation by the European Commission in respect of these five projects is a positive step in the development of these key infrastructural projects which will allow for future growth and development which will ultimately help with job creation.

“I was particularly delighted to support the port companies in their applications. Ireland’s National Ports Policy categorises the Port of Cork Company, Dublin Port Company and Shannon Foynes Port Company as Ports of National Significance (Tier 1) in recognition of the key role of they play in national economic development.

"This positive announcement will support significant, planned investment by the ports and follows the news that the Ringaskiddy project in the Port of Cork has recently been granted planning permission, while just today the Alexander Basin Redevelopment Project received a positive planning decision from An Bord Pleanála, allowing the largest ever infrastructure development project to be carried out at Dublin Port.

"In addition, Shannon Foynes Port Company’s first major project, the redevelopment of the East Jetty, is now well underway having commenced earlier this year. The continued commercial development of the port companies is a key strategic objective of the Government which will support job creation across the country as they are progressed in the years to come.”

The five projects are as follows:
· Port of Cork, Ringaskiddy Project (Project Type: Works, Co-funding rate: 17.47%, EU Max Contribution: €12,736,001.10)
· Shannon Foynes Port Company, Jetty Enhancement for Sea Port (Works, 20%, €2,200,000)
· Shannon Foynes Port Company, Connecting International Sea Cargo to the Irish Rail Network (Study, 50%, €800,000)
· Dublin Port, Alexandra Basin Redevelopment Project (Works, 10.3%, €22,782,055)
· City Centre Re-signalling Project (Works, 30%, €17,586,760.20)

Published in Ports & Shipping

#ShannonFoynes - The Limerick Leader reports on the Shannon Foynes Port Company's announcement of record profits in 2013.

Ireland's second largest bulk port company declared a 35% increase in its operating profits in the 12 months since its 2012 annual report, a record rise for the fourth successive year.

According to the port's CEO Patrick Keating, this strong performance underlines the objectives of the Vision 2041 master plan for the Shannon Estuary launched last year.

The Limerick Leader has more on the story HERE.

Published in Shannon Estuary

#ShannonPortProfit – Record financial profits by Shannon Foynes Port Company (SFPC) is down to an increase in shipping activity levels not seen since 2008.

SFPC posted an operating profit of just over €3 million for 2012, which after financing costs and net disposal proceeds amounted to just over €2 million.

Operating profit represents a 6.6 per cent rise on 2011 performance. The Irish Times has more on this story.

 

Published in Shannon Estuary

#Shannon - The Shannon Foynes Port Company has launched its master plan for the development of port infrastructure and services along the Shannon Estuary.

RTÉ News reports on the 30-year plan, titled Vision 2041, which will involve the construction of a new deepwater birth at Foynes, the development of warehousing and facilities across 300 acres of additional land - and the potential reopening of the Foynes-Limerick railway line, which has lain dormant since 2001.

As one of the deepest waterways in Europe, the estuary is also in prime position to take advantage of the new 'post-panamax' supertanker shipping era, and talks on securing future foreign direct investment as a priority.

As previously reported on Afloat.ie, submissions for the accompanying strategic plan for the development and management of marine-related industry and tourism in the Shannon Estuary region closed last week.

The Draft Strategic Integrated Framework Plan (SIFP) for the Shannon Estuary, the first of its type to be developed in Ireland, identifies a number of strategic sites along the estuary for future possible development in the areas of industry, tourism, energy, fishing and aquaculture and marine-related industry.

Published in Shannon Estuary

#SHANNON FOYNES – An operating profit close to €2.9m for last year (up from €2.5m in 2011) was recorded by Shannon Foynes Port Company (SFPC) according to yesterday's Irish Times.

SFPC recorded a 2.2 per cent rise in turnover to €10.1 million, resulting in a 13 per cent increase in operating margin from 25.5 per cent to 28.1 per cent, according to the 2011 annual report.

The company made a profit attributable to the shareholder of €2.73 million after exceptional items and financing. Cargo increased 8 per cent to 10.1 million tonnes from 9.4 million tonnes in 2010. About 35 per cent of Ireland's bulk traffic transits through SFPC's six terminals on the estuary.

Published in Shannon Estuary

#SHANNON ESTUARY – The Maritime Journal reports that a simulated fire and rescue drill simulating a fire on board a ship took place in Foynes Port this week.

Limerick County Fire & Rescue Service with the assistance of Shannon Foynes Port Company and Celtic Tugs which operates a fleet of  tugs in the port hosted the Ship and Ports Course.

A number of exercises were carried out during the course, to read more on the exercise click HERE.

Published in Shannon Estuary
The Irish Times reports that Shannon Foynes Port Company is set to sell off extensive warehousing along with a development site opposite the port.
Five separate warehouses extending to 5,297sqm are included in the sale, along with almost 1 hectare (2.44 acres) of development land.
DTZ Sherry FitzGerald is handling the sale by public tender on 28 September. The warehousing and site are likely to make more than €700,000 for the port company.

The Irish Times reports that Shannon Foynes Port Company is set to sell off extensive warehousing along with a development site facing the port.

Five separate warehouses extending to 5,297sqm are included in the sale, along with almost 1 hectare (2.44 acres) of development land.

DTZ Sherry FitzGerald is handling the sale by public tender on 28 September. The warehousing and site are likely to make more than €700,000 for the port company.

Published in Waterfront Property
A record operating profit of €2.5 million for last year was made by the Shannon Foynes Port Company, according to a report in today's Irish Times.
The profit of the mid-western port is on foot of a 23% increase in tonnage which rose to 9.4 million tons, up from 7.6 million in 2009.

The boost is revealed in the state-owned company's annual report which shows the facility made a bottom-line profit for the year of €1.1 million – a five-fold increase on 2009. Operating cash flows rose to €3 million, up from €2.7 million a year earlier. To read more click HERE.

Late last month the Co. Limerick port was busy particularly with the seasonal arrival of three cruise ships and all made within one week, for more click HERE. This Friday sees the return of one of those cruise-callers, the French-flagged Le Diamant which is on charter to operator Inter Cruises.

Published in Ports & Shipping
Visitors to Ireland's newest coastal tourist attraction at Loop Head Lighthouse will not only have stunning sea views but also as a place to observe seasonal cruise ships calling to Foynes, writes Jehan Ashmore.
Within the next seven days, three cruise callers are due to enter the mouth of the Shannon Estuary. The first to arrive is the French-flagged Le Diamant which docks tomorrow in the Co. Limerick port. The 8,200 tonnes vessel operated by Ponant Cruises is tonight sailing from St. Mary's, Isles of Scilly.

Her arrival will be followed by P&O Cruises latest addition Adonia on Saturday. With 710 berths the 30,000 tonnes vessel is the smallest of the seven-strong fleet which can accommodate between 1,800 and up to 3,100 passengers as in the case of the Azura. The 115,000 tonnes vessel departed Dublin Port this evening. Her first call to the port was last year (click HERE) and she is the largest cruise ship to call to the capital.

On Tuesday of next week the 9,000 tonnes Spirit of Adventure (cruises) marks the third cruise caller to Foynes. The port is along with five other terminals located throughout the country's largest estuary are operated by the Shannon Foynes Port Company (SFPC).

Incidentally Spirit of Adventure and Azura where two of another trio of cruise ships that visited the Port of Cork on Monday, with Holland America Line's 59,000 tonnes Rotterdam forming the third vessel. This was the first occasion that Cork has handled this number of cruise ships on a single day, bringing 7,000 passengers which set a new record for the port.

Published in Cruise Liners
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