Displaying items by tag: Pandemic

19th March 2022

Big Losses at Isle of Man Steam Packet During First Year of the Pandemic

The Isle of Man Steam Packet reported big losses during the first year of the Covid19 pandemic. Above the operator's main ferry, the ropax Ben-My-Chree entering Douglas Harbour.

The Manx state-owned ferry operator, the Isle of Man Steam Packet Company lost tens of millions of pounds in revenue in the first year of the Covid pandemic.

Significant losses to both passenger and freight revenues are outlined in the directors’ report and financial statement for the year ending December 31, 2020, which will be laid before this month’s Tynwald sitting.

It says the government’s decisions to cancel the TT and Festival of Motorcycling in 2020 and 2021, and to impose travel restrictions on all visitors, had a very significant effect on passenger revenues and cashflows.

Thirty-five weeks of Covid-related travel restrictions in 2020 resulted in the loss of about £25m passenger revenues including the cancellation of both that year’s TT and Festival of Motorcycling.

Isle of Man Today has more on the story.

Published in Ferry

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Shannon Foynes Port Information

Shannon Foynes Port (SFPC) are investing in an unprecedented expansion at its general cargo terminal, Foynes, adding over two-thirds the size of its existing area. In the latest phase of a €64 million investment programme, SFPC is investing over €20 million in enabling works alone to convert 83 acres on the east side of the existing port into a landbank for marine-related industry, port-centric logistics and associated infrastructure. The project, which will be developed on a phased basis over the next five years, will require the biggest infrastructure works programme ever undertaken at the port, with the entire 83 acre landbank having to be raised by 4.4 metres. The programme will also require the provision of new internal roads and multiple bridge access as well as roundabout access.