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Displaying items by tag: Annual Results 2019

A sound financial performance is how Belfast Harbour has reported figures for 2019 and this in line with expectations of providing a strong platform from which to respond to challenges posed by the impact of Covid-19 on the local and global economy.

Releasing its annual results last month, Belfast Harbour reported turnover of £65.9m in the year to the end of 2019 (down 4%) and generated operating profits of £30.6m (down 15% from the record results of 2018). The decline in earnings largely reflected the completion of a major offshore windfarm contract mid-2018 and the ongoing decline in power station coal throughput.

Trade remained strong during the year, with more than 24 million tonnes of cargo passing through the port. Ferry passenger numbers exceeded 1.5m for the third year in a row, there were a record number of freight vehicles - up 4% to 542,000 – and cruise ship activity also continued to grow, with 280,000 cruise visitors during the year.

During 2019, £44m was invested in a range of port and estate projects, with £40m invested to automate container handling and upgrade the Belfast -Liverpool ferry terminal, in readiness for the introduction of larger new Stena Line vessels.  Construction also commenced on City Quays 3, which will be Northern Ireland’s largest ever Grade ‘A’ office building.  The last remaining office space in the City Quays 2 building was occupied during the year.

In 2019 Belfast Harbour committed £115.7m in further investment in strategically significant projects to help deliver its vision of becoming the best regional port and an iconic waterfront for Belfast. These investments will be a critical enabler of NI’s Covid-19 recovery, given the Port’s recognised role as a key driver of the regional economy.

In the past 10 years Belfast Harbour has invested over £290m in port infrastructure and estate regeneration, which as a Trust Port it entirely self-funded - with all profits reinvested back into developing the Port for the benefit of customers and the wider economy. 

Published in Belfast Lough

Naval Visits focuses on forthcoming courtesy visits by foreign navies from our nearest neighbours, to navies from European Union and perhaps even those navies from far-flung distant shores.

In covering these Naval Visits, the range of nationality arising from these vessels can also be broad in terms of the variety of ships docking in our ports.

The list of naval ship types is long and they perform many tasks. These naval ships can include coastal patrol vessels, mine-sweepers, mine-hunters, frigates, destroyers, amphibious dock-landing vessels, helicopter-carriers, submarine support ships and the rarer sighting of submarines.

When Naval Visits are made, it is those that are open to the public to come on board, provide an excellent opportunity to demonstrate up close and personal, what these look like and what they can do and a chance to discuss with the crew.

It can make even more interesting for visitors when a flotilla arrives, particularly comprising an international fleet, adding to the sense of curiosity and adding a greater mix to the type of vessels boarded.

All of this makes Naval Visits a fascinating and intriguing insight into the role of navies from abroad, as they spend time in our ports, mostly for a weekend-long call, having completed exercises at sea.

These naval exercises can involve joint co-operation between other naval fleets off Ireland, in the approaches of the Atlantic, and way offshore of the coasts of western European countries.

In certain circumstances, Naval Visits involve vessels which are making repositioning voyages over long distances between continents, having completed a tour of duty in zones of conflict.

Joint naval fleet exercises bring an increased integration of navies within Europe and beyond. These exercises improve greater co-operation at EU level but also internationally, not just on a political front, but these exercises enable shared training skills in carrying out naval skills and also knowledge.

Naval Visits are also reciprocal, in that the Irish Naval Service, has over the decades, visited major gatherings overseas, while also carrying out specific operations on many fronts.

Ireland can, therefore, be represented through these ships that also act as floating ambassadorial platforms, supporting our national interests.

These interests are not exclusively political in terms of foreign policy, through humanitarian commitments, but are also to assist existing trade and tourism links and also develop further.

Equally important is our relationship with the Irish diaspora, and to share this sense of identity with the rest of the World.