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Displaying items by tag: DP World

A Dubai-based owner of P&O Ferries has reported record-breaking profits just months after sacking 800 of its UK-based workers without notice.

DP World, which is ultimately owned by the Dubai royal family, said in March that firing 786 P&O seafarers and replacing them with much cheaper agency workers was the only way to ensure the “future viability” of the historic ferry business.

However, on Thursday Sultan Ahmed bin Sulayem, DP World’s chair and chief executive, announced the company had increased its first-half revenues by 60 per cent to $7.9 billion (€7.8bn) and profits had risen by more than 50 per cent to a record $721 million.

“We are delighted to report a record set of first-half results with … attributable earnings [profits] rising 51.8 per cent,” he said in the company’s earning’s statement on Thursday. “Overall the strong first-half performance leaves us well placed to deliver improved full-year results.”

Further coverage The Irish Times has on the seafarers sackings which included those working on the Irish Sea.

Published in Ferry

Dubai based owner of P&O Ferries, reports BBC News, has said the UK government has been "slow" to react to the crisis facing vital supply routes.

The ferry company, which transports 15% of all goods in and out of the UK (incl Ireland), has applied for financial support to see it through the coronavirus lockdown.

The head of Dubai-based DP World told the BBC that P&O needs £257m in aid to avoid collapse and has applied to the UK government for £150m of that.

But Sultan Ahmed bin Sulayem said he has yet to get a response from the UK.

The DP World chairman and chief executive said: "P&O plays a vital role in the UK and thousands of jobs depend on this company. We have to be sure that when this is over we can bounce back and save these jobs.

"We have applied to the UK government to support the company to save the jobs of these people. The government has been slow. We need to safeguard these jobs - a lot of people's lives depends on this company."

As leisure passenger numbers have collapsed, moving freight only between the EU and the UK has become economically unviable. P&O has taken seven ships out of service (among them Pride of York according to the YorkshirePost).

As Afloat has previously reported P&O has also furloughed 1,400 workers, which will see the UK government paying 80% of their wages.

For further reading on the story click here. 

In addition Afloat reported on the operator's Dublin-Liverpool ropax freight ferry Norbay which was detained in the UK port over port fees which was resolved recently.

The Norbank along with sister Norbay still retain their 'Nor' prefix named as a legacy of North Sea Ferries which as alluded in the photo caption above became part of the present P&O Ferries connecting the UK with Ireland and continental Europe.  

Published in Ferry

Tricentenary 'Cork 300' Celebrations at Royal Cork Yacht Club

Cork 300 is the overall name for a series of events which will be held in Cork Harbour and further afield in 2020 to celebrate the tricentenary of Royal Cork Yacht Club.

300 years earlier, 25 individuals came together and created what is now the oldest yacht club in the world (where it all began). Today, there are thousands of yacht clubs across the globe with a collective membership running into the millions.

Cork, its harbour and its communities will proudly celebrate all that is on offer to visitors to Irelands Maritime Paradise with a series of events throughout the year. Register your interest here.

The lead events will be as follows:

July – The Great Gathering (Keelboats)
August – The Three Championship Weeks (Dinghies)
August – The Club At Home Regatta (Keelboats & Dinghies)

Events include…

AIB 1720 Southern Championships 28th-30th August
Sadly, the 1720 Europeans scheduled to take place as part of Volvo Cork Week fell victim to the covid 19 pandemic. The Royal Cork Yacht Club is instead hosting the AIB 1720 Southern Championships 2020 as part of their Tricentenary At Home Regatta weekend. The 1720 class originated from an idea generated by some committed racing members of the Royal Cork Yacht Club with the first prototype taking to the water in 1994. Designed by Tony Castro, they have been delighting many a competitive sailor since.

Tricentenary at Home Regatta, 28th - 30th August:
The AIB Tricentenary at Home Regatta will be the biggest sailing event of the year in the Royal Cork calendar. Racing will be available for all classes both dinghy and keelboat with many visitors expected from up and down the Irish South Coast. The National 18 Southern Championships will also feature as part of the racing over the weekend.

Maritime Parade 29th August
A maritime parade, originally scheduled for July, will now take place during the Tricentenary Regatta on the 29th August, with the support of the Irish Naval Services and Port of Cork. The Admiral of the Royal Cork and other dignitaries will review the parade from one of the Irish Naval Service vessels which will be anchored in the vicinity of Haulbowline.

1720s Race from Haulbowline to Crosshaven, 29th August
Following the Maritime Parade, a race will take place between all of the 1720s boats from the Naval Signal Tower back to the Royal Cork Yacht Club in Crosshaven. The National 18 Class will also be participating.

RCYC Exhibition at the Sirius, 29th August to 19th December
A RCYC Exhibition will be launched at the Sirius Arts Centre in Cobh on August 29th following the day's events. The Sirius was the Royal Cork Club House from 1854 to 1966, and the Exhibition will take a look at what life was like at the yacht club during its time there.

Fastnet Challenge, 29th August
The Fastnet Powerboat Challenge originally scheduled for the last week of July has now been moved to the last weekend of August (Weather permitting). This will see the UIM Long Distance Cork-Fastnet-Cork World Record attempt competed for.

Cork300 Family Race to the City, 12-13 September
In conjunction with Cove Sailing Club's annual Cobh to Blackrock race, Yachts and craft from across Cork Harbour will take part in a race to Blackrock Castle, following on from which, they will continue to the city Quays where they will remain overnight and provide a spectacle of sail within the City environs.

AIB National 18 Championships, 12-13 September
The AIB National 18 Championships for adult sailors in the UK and Ireland will take place from 12-13 September in Crosshaven this year as part of the Cork300 celebrations.

AIB Cork300 Autumn League, 27 September-25 October
The premier yacht racing event on the South Coast this year, the AIB Cork300 Autumn League, will be held over 5 weekends leading up to the October Bank Holiday weekend. This is expected to be the largest yacht racing event on the South Coast of Ireland this year.

AIB Irish Team Racing National Championships 2020, 21-22 November
Sailing teams from across the country will compete in Cork Harbour for the title of AIB Irish Team Racing National Champion 2020

All races will be governed by the COVID-19 guidelines as laid out by Irish Sailing and organising clubs.

At A Glance – Royal Cork Tricentenary

Founded in 1720, by a group of 25 pioneering individuals, the Royal Cork Yacht Club is the oldest yacht club in the world, and its tricentenary celebrations will take a look back at the origins of ‘where it all began’, which is attracting significant international interest from thousands of yacht clubs across the globe

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