#PORTS & SHIPPING - Below is a comment from John B. McGuckian, chairman of the Irish Continental Group (ICG) on the half-yearly financial report for the six months ended 30 June 2012.

Mr. McGuckian said, "I am pleased to report a robust performance in the first six months of the financial year. Turnover grew, albeit moderately while EBITDA was €14.3 million in the first six months of the year, down only €1.8 million despite an increase of €4.5 million in our fuel bill in the period.

With regard to current trading, while freight remains weak due to the economic background our tourism and car business has benefited from reduced competitor capacity although fuel costs remain a headwind.

With our strong cash flow and balance sheet we propose an unchanged interim dividend of 33 cent per ICG Unit and due to the strength of our capital position propose a return to shareholders of up to €111.5 million via a tender offer buy-back, which is subject to shareholder approval.‟‟

Interim Management Report for the six months up to 30 June 2012

Results

The Board of Irish Continental Group plc (ICG) reports that, in the seasonally less profitable first half of the year, the Group recorded revenue of €127.1 million compared with €126.6 million in the same period in 2011 an increase of 0.4%.

Earnings before interest tax and depreciation (EBITDA) were €14.3 million compared with €16.1 million in the same period in 2011.

Operating profit was €5.1 million compared with €6.5 million in 2011. Group fuel costs were €28.9 million compared with €24.4 million in the same period in 2011. There was a net finance charge of €1.2 million (2011: €0.3 million) which includes a net pension expense of €0.8 million (2011: credit of €0.1 million) and net bank interest payable of €0.4 million (2011: €0.4 million).

Profit before tax was €3.9 million compared with €6.2 million in the first half of 2011. The tax charge amounted to €0.3 million (2011: €0.1 million). Basic EPS was 14.5c compared with 24.4c in the first half of 2011. Adjusted EPS (i.e. before the net pension interest expense) amounted to 17.7c (2011: 24.0c).

Dividend

The Board declares an interim dividend of 33 cent per ICG Unit payable on 5 October to shareholders on the register at 21 September 2012.

Disposal of Subsidiary

On 29 August 2012 the Group entered into an agreement for the sale, subject to regulatory approval, of its subsidiary Feederlink Shipping and Trading b.v. for a consideration of up to €29 million. All details are available from clicking this link: http://www.icg.ie/documents/2012/2012-07-30-Half-Year-Results.pdf

#FERRY CABARET – Holiday makers taking peak sailings with Irish Ferries routes to France can enjoy the Wilde Nights Cabaret Show, on board the cruiseferry Oscar Wilde (1987/31,914grt), writes Jehan Ashmore.

Irish Ferries will resume Mini Cruises on 27 August, starting on the Rosslare-Roscoff route and followed next month, they will be made available on Rosslare-Cherbourg sailings. Dependent on which route is taken, the time ashore can be up to 8 hours in France.

Currently there is a special fare for a car, driver and reserved seat from €99 single. The price includes all taxes, noting bookings should be made at least 10 days in advance of travel date. This fare is applicable to sailings made between 2nd September to 19th December.

For further details and other special fares click HERE.

#FERRY NEWS –Irish Ferries has appointed Dermot Merrigan as Head of Passenger Sales for Ireland, UK and France.

Merrigan joined Irish Ferries 22  years ago and has extensive experience within the company's passenger business. Previously he held the posts of Contact Centre Manager and, before that, Commercial Coordinator with the company's division Irish Ferries Holidays.

A native of Dublin, he is married and succeeds Declan Mescall who retired after 34 years service with the company.

# WINE FAIR MINI-CRUISE – Some passengers travelling on today's Irish Ferries inaugural sailing of the seasonal operated Rosslare-Roscoff route are taking a Wine Fair mini-cruise, writes Jehan Ashmore.

To celebrate the start of summer sailings to Roscoff, the special Wine Fair themed round-trip mini-cruise is been run in conjunction with a beverage supermarket located in the Breton port.

Before Oscar Wilde docks in France tomorrow morning those booked on the Wine-Fair sailing will hear lectures presented by wine-growers from leading wine regions. Among them are producers from Bordeaux, Loire Valley, Languedoc Roussillon, Loire Valley, South of France and the Rhône Valley.

Aside this weekend's Wine Fair mini-cruise, Irish Ferries have been running their regular mini-cruises which provide opportunities to purchase wine, beer on a DIY buying trip.

The first mini-cruise started this week on the Rosslare-Cherbourg and they are also available on sailings serving Roscoff. Mini-cruises are valid for travel from Ireland up to 19 June and from 27 August, subject to availability.

#FERRY SAILS – Ferry passengers perhaps on a mini-wine break cruise between Rosslare-Cherbourg may be taking a detour to the Cherbourg Nauting Boat Show which is been held this weekend, writes Jehan Ashmore.

Both Celtic Link Ferries and Irish Ferries operate on the continental route to the man-made Norman port originally constructed by Napoleon. The present day bustling town-centre of Cherbourg-Octeville to give its full name is close to the large 1500-plus berth marina at the Port Chantereyne which is hosting the show.

Those attending can buy and sell new and second-hand boats and where there will be exhibitors attending the three-day show which started yesterday. Activities include scuba-diving, dry surf, stand-up-paddle and model-boats on a dedicated pool.

In addition there is a guided-tour on a racing-boat commented by its skipper Eric D'Hooghe from the Figaro Race. Also making an appearance is the French rower Rémy Alnet who will be there to talk about his trans-Atlantic races.

Also on a related note is the La Cité de la Mer which is a museum situated in the former trans-Atlantic liner passenger terminal used during the so called golden era. The history of these liners is recalled in the museum and of course includes the RMS Titanic and the  French Line's famous France which as the Norway made a once off anchorage call outside Dun Laoghaire Harbour. 

In addition there are displays of submarines including the decomissioned French Navy nuclear-powered submarine Le Redoutable which is located in an adjoining dry-dock.

#FREE FERRY WI-FI - Free Wi-Fi is now available on all of the Irish Ferries fleet after an expansion of the facility was completed on routes serving on the Irish Sea and on services to French ports .

Wi-Fi access on the Irish Sea is not just confined to those travelling in Club Class. There is also no need for a plug-in or payment to access the internet as passengers can simply surf the net, check emails and also connect to their own corporate network using state of the connections.

In addition for those without their own web devise 'surf-box' internet kiosks are available on board.

Andrew Sheen has been appointed Operations Director, Irish Ferries.

A former engineer on the company's fast ferry Jonathan Swift, Mr. Sheen joined Irish Ferries from the UK's Maritime and Coastguard Agency having served as Technical Performance Manager, Engineer and Ship Surveyor.

A B.Eng (Hons), M.Sc and Chartered Engineer, he will be accountable for Irish Ferries' ships safety and operations, all port terminals within the company's network and costs associated with the company's operations in Ireland, Britain and France.

From Liverpool, he succeeds Mr. John Reilly who has retired from the company after many years of service.

#FERRY FORTNIGHT – With today's St. Patrick's Day festivities, the national event also coincides with the launch of our nearest neighbour's National Ferry Fortnight (17th-30th March) campaign held in the UK, writes Jehan Ashmore.

Each year around 13m people travelled between the UK and Ireland while more than 10m people took to the skies.

The UK has an extensive ferry network of approximately 50 routes including those serving the islands. Of the 11 shipping operators that are members of the Passenger Shipping Association (PSA), five of them serve on routes to Ireland.

Those participating in the ferry campaign which operate on the Irish market are Brittany Ferries, Irish Ferries, Isle of Man Steam Packet Company,  P&O and Stena Line.

To read more about all the ferry firms participating in the National Ferry Fortnight campaign click HERE.

#FERRY NEWS – St.Patrick's Day coincides with the start of the UK's annual National Ferry Fortnight (17-30 March) campaign which includes the participation of over 50 routes, including those operating on the Irish Sea, writes Jehan Ashmore.

This year's event organised by the Passenger Shipping Association (PSA) is to be brought forward two months earlier instead of May. According to the PSA the change of dates was designed to "emphasise the great value of family ferry travel at a time when parents have a watchful eye on budgets".

A new official logo will front the campaign's website www.discoverferries.com which is supported by all ferry line members of the association. The two week showcase aims to heighten consumer and media awareness of the UK's extensive ferry firms route network.

PSA members include Brittany Ferries, Condor Ferries, DFDS Seaways, Hovertravel, Isle Of Man Steam Packet Company, Irish Ferries, LD Lines, P&O Ferries, Red Funnel, Stena Line and Wightlink.

The association estimate that around 35 million people, 8 million cars and 140,000 coaches were carried by ferries last year.

#PORTS & SHIPPING NEWS – The Irish Maritime Development Office (IMDO) have welcomed a newly founded ship-management company, Barry Shipping, which started operations in Cork at the end of last year.

The company headed by Corkonian Owen Barry,  provides ship management, crew management, project management, training and a range of other services for the maritime industry.

Glenn Murphy, director of the IMDO said "We wish Barry Shipping well with their new venture and look forward to providing them with further strategic and network support to assist them during their continued development".

Commenting on their future strategy Barry said, "The company's aim is to provide clients with creative and profitable solutions to meet and overcome some of the unique challenges in the current climate".

Barry graduated from Cork Institute of Technology (CIT) in 1996 and started his career with BP Shipping as an Engineering Cadet. This was followed by working with leading passenger operators Irish Ferries, P&O Cruises and Dobson Fleet Management where he served as Chief Engineer and Technical Superintendent. In 2009 he returned to Cork to run operations for Fastnet Line.

For more information about the new company, visit www.barryshipping.com

In addition for details about the role of the (IMDO) which is Ireland's national dedicated development, promotional and marketing agency for the shipping services sector click HERE