Port of Cork Trade Levels Return to Pre-Recessionary Levels

By Seamus Whelehan

0
301

10.6 Million Tonnes of trade flowed through the Port of Cork last year, a slight increase on 2017 tonnage.
The Port Authority said it attributed the growth to increased bulk cargo activity as a result of the 2018 fodder crisis, and improved container traffic at the Tivoli docks. Import figures grew by 3% in 2018 when compared with figures from the previous year.
The profit on ordinary activities before taxation amounted to €5.1 million and the profit after taxation for the financial year amounted to €4.4 million.
They say the increase is encouraging as the Port moves to redevelop Ringaskiddy Port as their main container terminal.
Port of Cork Chairman, John Mullins, said he was “overall pleased” with the figures as the company move forward with its €86million redevelopment of Ringaskiddy Port.
However, Chief Executive, Brendan Keating said Brexit poses a real threat to Port activities from both a national and EU trade perspective.
He said the Port Authority were in constant discussions with Government Departments, Customs and the Gardaí in relation to potential impacts of Brexit.
“The commencement by Brittany Ferries of the new shipping RoRo service direct from Ringaskiddy, Cork to Santander and Roscoff in May 2018, was a welcome and successful route and we will continue to monitor the potential impacts which Brexit may have on our business and that of our customers” commented Mr Keating.
Last year the Port welcomed 93 Cruise ships which brought in excess of 200,000 passengers and crew to the region.
The Port of Cork said the company’s continued commitment to the cruise business is reinforced by its work with Cork County Council in planning for the provision of a second dedicated cruise berth at Lynch’s Quay, Cobh. To this end “Expressions of Interests” were invited and a number of submissions are currently under consideration.

Advertisement