Displaying items by tag: Tonnage Tax Report

18th October 2014

Ports & Shipping Review: Calls for Port Relief Road, EU Port Regulation Agreed, SFPC Record Profits, Government Back Galway Port Expansion, Irish Tonnage Tax Report and Dublin Dry Dock Faces Closure

#Ports&ShippingReview: Over the last fortnight, Jehan Ashmore has reported on the shipping scene, where Warrenpoint Harbour call for funding to construct relief road to avoid traveling through Newry City.

The European Sea Ports Organisation (ESPO) recognised the Italian Presidency efforts at the Transport Council to reach an agreement on Port Regulation proposals.

Shannon Foynes Port Company announced record profits for 2013, the fourth successive year in such growth, showing a 3% increase in Operating Profit at €4.1m, up from €3.1m in 2012.

Government to back Galway Harbour's €52 million redevelopment of a first phase of a port expansion.

The IMDO release report Irish Tonnage Tax: Opportunities for the International Shipping Industry. The independent report by PwC details the benefits of the tax regime established in 2004 and the attractions of maritime operations locating in Ireland.

Dublin Graving Docks Ltd faces closure as Dublin Port Company plan a €200m Alexandra Basin Redevelpment Project that incorporates the site of the 200m long graving dock. Currently the dry-dock is occupied by Arklow Ranger and Jeanie Johnston.

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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.