Displaying items by tag: Irish ports sector

24th November 2011

Port & Shipping Volumes Continue Slowdown in 3rd Quarter

#PORTS & SHIPPING- The volume of shipping and port traffic through the Republic of Ireland continued to decline during the third quarter of 2011, according to the latest analysis of traffic figures released by the Irish Maritime Development Office (IMDO).

Results from third quarter data indicate that only 1 of the 5 principal freight segments had any growth over the third quarter, while all other segments declined compared to the same period last year as outlined below in the key third quarter data:-

• Lift-on/Lift-off (lo/lo) trades were down 5%

• Roll-on/Roll-off export traffic was down by 2%

• Dry bulk volumes increased by 2%

• Break bulk volumes were down by 3%

• The Tanker/Liquid bulk market was down 7%.

For a more in-depth analysis of each freight-transport mode issued by the IMDO and accompanied by graphic charts click HERE. In addition to compare the 3rd quarter figures with the previous 2nd quater for this year click HERE.

Published in Ports & Shipping

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About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.