Displaying items by tag: Operations and Chartering

6th May 2011

Employment Rise of 10% in Irish International Shipping Service Sector

There was a 10% growth in employment in the International Shipping Services sector in Ireland last year according to the Irish Maritime Development Office (IMDO).

In a recent analysis of the sector the information is based from companies that have elected to join the dedicated Irish Tonnage Tax (ITT) scheme, a measure introduced in the 2002 Finance Act.

The act is designed to assist in securing the future of the Irish shipping sector in which five new companies in 2010 entered the scheme, generating an increase of 44% in the number of vessels (from 154 to 177) covered by the Tonnage Tax. Half of these vessels range less than five years old with the total average age at eight years.

In addition the initiative has directly created 314 jobs in 2009 to nearly 350 jobs last year. Most of the employment is in specialised areas such finance,technical management, operations and chartering.

Commenting on the data, IMDO Director Glenn Murphy said "The results are a positive indication that after long periods of decline for the industry that policy support measures have encouraged investment which has led to growth and new employment. We are optimistic that direct employment
in the high value professional shipping services sector could double over the next five years leading to further investment and job creation opportunities"

The majority of Irish-based ship-owning firms operating within the ITT scheme are not entirely reliant on the Irish economy for their daily core revenue streams but are instead employed in the international shipping markets.

In 2010 the global shipping business had total charter trading transactions estimated at $450 billion dollars. It was a year in which the shipping markets continued to be quite volatile with most sectors still recovering from large charter earnings declines over the previous 12 months. Overall Irish firms were quite resilient in their ability to compete last year.

The growth in this sector in Ireland has been driven by established Irish-owned companies Arklow Shipping Ltd (ASL) and the Mainport Group and inward investment has come from D'Amico and Ardmore Shipping. The chemical and products tanker fleet operator located its headquarters to Cork last year and the company is backed by a large US private equity firm.

To read more from the report, you can request a copy by contacting the IMDO by e-mailing [email protected]

Published in Ports & Shipping

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Forty Foot Swimming Spot on Dublin Bay

The 'Forty Foot' is a rocky outcrop located at the southern tip of Dublin Bay at Sandycove, County Dublin from which people have been swimming in the Irish Sea all year round for 300 years or more. It is popular because it is one of few spots between Dublin city and Greystones in County Wicklow that allows for swimming at all stages of the tide, subject to the sea state.

Forty Foot History

Traditionally, the bathing spot was exclusively a men's bathing spot and the gentlemen's swimming club was established to help conserve the area.

Owing to its relative isolation and gender-specific nature it became a popular spot for nudists, but in the 1970s, during the women's liberation movement, a group of female equal-rights activists plunged into the waters and now it is also open to everyone and it is in the control of Dun Laoghaire Rathdown County Council.

Many people believe that swimming in extremely cold water is healthy and good for the immune system.

Is it safe to swim at the Forty Foot?

The Forty-Foot is a great place to swim because there is always enough water to get a dip but like all sea swimming, there are always hazards you need to be aware of. For example, a lot of people like to dive into to the pool at the Forty-foot but there are submerged rocks that can be hazardous especially at low water. The Council have erected signs to warn people of the underwater dangers. Other hazards include slippy granite cut stone steps that can often be covered with seaweed and of course marine wildlife including jellyfish that make their presence felt in the summer months as do an inquisitive nearby Sandycove seal colony.