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Displaying items by tag: Lloyds List

Britain is to stop paying towards the cost of funding the Commissioners of Irish Lights (CIL) according to a report in Lloyds List. In an agreement reached between London and Dublin, a formal announcement on the timetable for removing the subsidy is expected shortly.
The Irish Government has agreed to pay for its own lighthouses, buoys and other marine aids to navigation. The UK subsidy is likely to be eliminated during the current parliament if all goes according to plan. That is the pledge made by Mr Penning, UK Minister of Shipping on several occasions in recent months. The phase-out will start in the next financial year.

The total cost of providing these services comes to around £75m ($116.5m) a year, of which Irish Lights accounts for €32m. The UK subsidy to Ireland is between £10m and £12m, with the Irish government contributing some £6m and the balance coming from fees.

All three general lighthouse authorities (GLA) are working on ways to cut costs and improve efficiencies, with a joint strategic board set up to consider how they can work together more effectively.

Published in Lighthouses

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.