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Displaying items by tag: Irish Ferries

Irish Ferries parent company Irish Continental Group has reported a drop in revenues and earnings for the first six months of the year amid a challenging background of depressed economic activity and travel restrictions imposed across the EU because of the Covid-19 pandemic.

ICG said this had led to a significant reduction in passenger traffic, however freight activity across the group has been less affected.

Revenues for the six months to the end of June decreased by 21.6% to €130.8m from €166.8m the same time last year, while EBITDA sank by 66.7% to €10m from €30m.

ICG, which owns Irish Ferries, posted a loss before tax of €11.2m compared with a profit before tax of €24.9m the same time last year.

The company said the trading conditions faced by the group since March, particularly in its passenger business, have been the most challenging encountered in its 32 year history.

More here RTE News reports on this story. 

Published in Ferry

Ferry and container operator Irish Continental Group (ICG) reported revenues fell more than 21 per cent in the first six months of the year as the coronavirus pandemic caused economies to shut down.

But the group, reports Irish Times, said it remained in a strong financial position to weather the Covid-19 storm.

The ferry company (Irish Ferries) said consolidated revenue for the six months to June 30th 2020 fell 21.6 per cent to €130.8 million, dragged lower by a 65 per cent decline in passenger volumes over the period. Net debt at the end of the period was €103.3 million, down from €129.0 million at the end of December 2019.

The ferries division showed a decline of more than 33 per cent, with revenue at €61.6 million for the year. Passenger cars were down 65 per cent to 56,600, compared with 161,200 a year earlier.

The container and terminal division saw a 6.6 per cent fall in revenues for the six months, as supply chains were disruption by Covid-19. Over the year to July 25th, container freight volumes were 10.5 per cent lower at 178,300 20-foot equivalent units, with units handled at the Dublin Port and Belfast Harbour (see: terminals) down 13.6 per cent year on year to 160,100 lifts.

For further reading click here

In addition Afloat adds to consult ICG's Trading Update (here) that was released today.

Published in Ferry

Passengers coming from Britain to the Republic and subjected to a two-week quarantine, at a time when Boris Johnson’s government has exempted Irish citizens from its own restrictions, puts the entire Common Travel Area at risk post-Brexit, according to the head of ferry operator Irish Continental Group (ICG).

ICG, owner of Irish Ferries, has seen passenger numbers slump 60 per cent so far this year amid Covid-19 travel restrictions, it said in a trading statement on Thursday.

As The Irish Times writes, the company has written to the Government arguing that a requirement that people travelling to the State should self-isolate for 14 days is not consistent in the Common Travel Area (CTA) with the UK government’s position that no such measures be taken by passengers travelling from the Republic to Britain.

“There is nothing to stop people from Britain visiting Ireland by transiting via Northern Ireland without the requirement to self-isolate, which is clearly anomalous,” ICG said.

Speaking to The Irish Times, ICG chief executive Eamonn Rothwell said: “The CTA is going to be very important to Ireland post-Brexit. We don’t want to risk the British people turning around and saying, ‘Hold on a sec, we’re letting Irish people travel to Britain but you’re forcing British people to go via Northern Ireland.’ There’s a risk that they’ll retaliate.”

The Government’s quarantine rules for travellers came into effect on May 28th and are due initially to last until June 18th. 

For more click here noting the reference to ICG's decision to cancel an order for a new Dublin-Holyhead ferry with a shipbuilder, after the German shipyard company filed for protection from its creditors in April.

Published in Ferry

Ferry operator, Irish Continental Group (ICG) has said its division, Irish Ferries experience passenger numbers slump by 60 per cent so far this year due to Covid-19 travel restrictions.

The company, according to The Irish Times, also said in a trading statement that it has cancelled an order with shipmaker Flensburger Schiffbau-Gesellschaft (FSG) to build a new vessel, after the German company filed for protection from its creditors in April.

ICG, led by chief executive Eamonn Rothwell, said that it has written to the Government arguing that a requirement that people travelling to the State should self-isolate for 14 days is not consistent in the Common Travel Area with the UK government’s position that no such measures be taken by passengers travelling from the Republic to Britain.

“There is nothing to stop people from Britain visiting Ireland by transiting via Northern Ireland without the requirement to self-isolate, which is clearly anomalous,” ICG said.

While ICG said that its freight business has remained relatively robust during the coronavirus pandemic, it is currently unable to estimate the full-year financial impact of the fall-off in passenger revenue. “The severity of this reduction in passenger revenue is dependent on the duration and nature of travel restrictions, particularly over the peak summer season,” it said.

Roll-on, roll-off freight volumes have fallen 4 per cent in the year to June 6th, while container volumes have dropped 13 per cent.

For more notably the cancellation to order a second newbuild cruiseferry click here.

Afloat adds the €165.2m newbuild for the Dublin-Holyhead route was based from the same design of W.B. Yeats of 54,975 gross tonnage (165 lorries) but larger at 67,300grt (330 lorries). This would enable the world's largest ferry with this level of freight capacity operate on the core Irish Sea route exclusively. 

Due to Covid-19, the W.B Yeats which Afloat reported yesterday had only resumed service on the Dublin-Cherbourg route in its role as the summer-operated cruiseferry. On Tuesday the cruiseferry began on the first round trip which was completed with an arrival to Dublin Port this morning. 

Prior to the return of W.B Yeats on the year-round operated route (by ropax Epsilon) to mainland Europe, W.B. Yeats as scheduled served the Dublin-Holyhead route with sailings over the winter months. Originally the cruiseferry was expected to re-enter the French route three months ago.  

Published in Ferry

Irish Continental Group, parent company of Irish Ferries has reported higher revenues and earnings for the year to the end of December, as its new ferry, the W.B.Yeats, came into service.

As according to RTE News, ICG's revenue for the year increased by 8.2% to €357.4m, while its earning before interest, taxes, depreciation and amortisation rose by almost 27% to €86.8m from €68.4m.

Overall group operating profit (EBIT) for the year increased by 8.2% to €64.9m and the company said it is proposing a final dividend of 8.99 cent, an increase of 5%.

Shares in the company sailed over 4% higher in Dublin trade this morning.

For more including ICG's container shipping divisions click here.

Published in Ferry

Irish Continental Group, the parent company of Irish Ferries has reported revenue of €308.8m in the first ten months of 2019, an increase of 8.2pc on the same period last year.

As the Independent.ie writes, ICG said a "significant" proportion of the improvement came from the ferries division, on the back of improved scheduling reliability following major disruptions in 2018.

Despite this, it experienced "some volatility in carryings as key Brexit dates were approached and subsequently postponed".

The overall effect of this continuing uncertainty "is generating negative impact on consumer sentiment and trade flows as investment decisions are delayed".

For further reading click here. 

Published in Ferry

A total of eight ferry, aviation and rail firms have been approved to bid for British Government contracts to import vital medicines into the UK after Brexit.

Britain's Transport Secretary Grant Shapps described the group as “high-quality and experienced” as he made the announcement.

His predecessor Chris Grayling faced calls to resign earlier this year after handing a £14 million contract to Seaborne Freight to run freight services, despite having no ships or trading history.

The eight firms appointed to a freight procurement framework are Brittany Ferries, DFDS, Irish Ferries, P&O Ferries, Seatruck and Stena, as well as aviation firm Air Charter Services and train operator Eurotunnel.

For more on the story click BreakingNews.ie

Published in Ferry

Exporters have generally welcomed next week’s changes to ferry timetables that, between Irish Ferries and Stena Line, will see a sailing from Ireland to Cherbourg every day of the week on alternating weeks, as AgriLand reports.

The change from next Monday 27 May will see Irish Ferries’s new and award-winning WB Yeats sail from Dublin to Cherbourg on Monday, Wednesday and Friday one week, then Sunday, Tuesday, Thursday and Saturday the following week, and so on until the end of September.

Stena Line sails from Rosslare to Cherbourg every Tuesday, Thursday and Saturday, meaning that next week and every fortnight thereafter there will be a sailing once a day from Ireland to the French port.

The change is being seen as a positive one by exporters — however complaints remain over lack of dialogue from the Department of Agriculture, Food and the Marine. AgriLand has more on the story HERE.

Published in Ferry
Tagged under

#ferries - At the end of last year Irish Continental Group (ICG) announced its decision not to run its Irish Ferries services this summer to France from Rosslare, Co Wexford, the move was met with both surprise and shock in the south-east port.

After all, the Irish Independent writes, the company's new 'cruise ferry', the WB Yeats, which can carry more than 1,800 passengers and 1,200 vehicles, had just arrived in Ireland after a delay and there were great expectations that ICG would put the ship on its Rosslare to Cherbourg, France route. 

Instead, ICG decided to operate the ferry service from Dublin Port to Cherbourg, lured by the scope for additional business in the capital.

Irish Ferries is still operating its Rosslare-to-Pembroke service while Stena runs from the south eastern port to Fishguard as well as to Cherbourg.

But if many were stunned by the move, for some in the Rosslare business community it was a progression for Irish Ferries that should have been anticipated.

According to Damien Roche, managing director of Rosslare-based Roche Logistics Group, which he co-owns with his brother Conor, it was simply a numbers game for ICG.

To read much more on the ferryport click here.

Afloat.ie adds Irish Ferries decision last year to abandon Rosslare also involved a second route to France, Roscoff in Brittany which was only operated in the peak-season summer months. This leaves Brittany Ferries as the sole operator maintaining an Ireland-Brittany link on the Cork-Roscoff route which is experiencing a passenger boost. 

Published in Ferry

#Lifeboats - The RNLI’s all-weather lifeboat based in Rosslare Harbour was launched at 10.38pm on Saturday night (2 March) to assist a passenger onboard an Irish Ferries vessel bound for Pembroke in Wales.

The passenger ferry Oscar Wilde, which was located 20 miles off the Wexford coast at the time, asked for assistance in evacuating a passenger who had become ill.

Sea conditions were unfavourable for the volunteers on the Rosslare Harbour lifeboat to go alongside the ferry.

The Irish Coast Guard helicopter Rescue 117 from Waterford was also tasked and quickly arrived on scene. After attempts to airlift the casualty it was deemed too dangerous.

The Oscar Wilde returned to Rosslare Europort at 1am, where an ambulance was waiting to bring the casualty to hospital. The RNLI volunteers in their Severn class lifeboat stood by the passenger ferry for the duration.

Sea conditions were very poor at the time, with a strong Force 7 to 8 gale and heavy rain.

Coxswain Eamonn O’Rourke commented that the volunteer crew of the lifeboat had to endure very challenging conditions.

Speaking afterwards, Rosslare Harbour RNLI lifeboat operations manager David Maloney said: “Conditions at sea tonight were challenging for our coxswain and lifeboat crew and I would like to commend them for their efforts in enduring a rough passage in the dark, and late at night on a Saturday evening, to be of assistance.”

Published in RNLI Lifeboats
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