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Displaying items by tag: Trading Statement

The Irish Continental Group (ICG), the parent company of Irish Ferries, has reported revenues of €177 million for the first quarter of this year; this reflects an increase of 8.3% when compared with the same time last year.

In a trading update for the Dublin-headquartered ICG for the four months to the end of April, the maritime transport operator said that total revenues at its division, Irish Ferries, had rose by 12% to €119.7 million from €106.9m million at the same time last year.

In the period for the year, up to 4 May, Irish Ferries, which operates on routes to the UK and France and UK-France, said it carried a total of 153,200 cars, an increase of 21.2% on the 126,400 cars carried during the same time last year.

As for freight volumes, they rose by 16.5% to 262,500 roll-on/roll-off (RoRo) units from 225,400 units for the year 2023.

For more on ICG’s trading update on Thursday, RTE News reports, which include load-on/load-off (LoLo) figures for revenues at ICG's Container and Terminal Divisions, DFT and BFT.

Published in Irish Ferries

The Irish Continental Group (ICG) has said it is totally prepared to meet the challenges posed by Brexit, whatever way those challenges emerge.

At the group’s annual general meeting, John McGuckian, ICG chairman, said, “we’re confident that whatever happens, we will react in an efficient and profitable way”.

Speaking to The Irish Times after the meeting, ICG chief executive Eamonn Rothwell said he’d prefer if sterling wasn’t so weak but he didn’t show concern on the basis that he doesn’t “know what Brexit is yet”. Mr Rothwell added that he doesn’t expect the group to suffer as 40 per cent of travellers on the Irish Sea are travellers originating in Ireland, while the remainder are British.

At the group agm there was no opposition to any of the resolutions, with remuneration practices in the company supported by over 90 per cent of shareholders. The shareholders dividend of 7.76 cent per share was also approved at the meeting. That dividend will be paid in June.

For more including the sale in 2017 of the former Isle of Innisfree (Kaitaki) to a New Zealand operator and results on ICG's ro-ro operations click here. 

Published in Ferry

The 2024 Vendée Globe Race

A record-sized fleet of 44 skippers are aiming for the tenth edition of the Vendée Globe: the 24,296 nautical miles solo non-stop round-the-world race from Les Sables d’Olonne in France, on Sunday, November 10 2024 and will be expected back in mid-January 2025.

Vendée Globe Race FAQs

Six women (Alexia Barrier, Clarisse Cremer, Isabelle Joschke, Sam Davies, Miranda Merron, Pip Hare).

Nine nations (France, Germany, Japan, Finland, Spain, Switzerland, Australia, and Great Britain)

After much speculation following Galway man Enda O’Coineen’s 2016 race debut for Ireland, there were as many as four campaigns proposed at one point, but unfortunately, none have reached the start line.

The Vendée Globe is a sailing race round the world, solo, non-stop and without assistance. It takes place every four years and it is regarded as the Everest of sailing. The event followed in the wake of the Golden Globe which had initiated the first circumnavigation of this type via the three capes (Good Hope, Leeuwin and Horn) in 1968.

The record to beat is Armel Le Cléac’h 74 days 3h 35 minutes 46s set in 2017. Some pundits are saying the boats could beat a sub-60 day time.

The number of theoretical miles to cover is 24,296 miles (45,000 km).

The IMOCA 60 ("Open 60"), is a development class monohull sailing yacht run by the International Monohull Open Class Association (IMOCA). The class pinnacle events are single or two-person ocean races, such as the Route du Rhum and the Vendée Globe.

Zero past winners are competing but two podiums 2017: Alex Thomson second, Jérémie Beyou third. It is also the fifth participation for Jean Le Cam and Alex Thomson, fourth for Arnaud Boissières and Jérémie Beyou.

The youngest on this ninth edition of the race is Alan Roura, 27 years old.

The oldest on this ninth edition is Jean Le Cam, 61 years old.

Over half the fleet are debutantes, totalling 18 first-timers.

The start procedure begins 8 minutes before the gun fires with the warning signal. At 4 minutes before, for the preparatory signal, the skipper must be alone on board, follow the countdown and take the line at the start signal at 13:02hrs local time. If an IMOCA crosses the line too early, it incurs a penalty of 5 hours which they will have to complete on the course before the latitude 38 ° 40 N (just north of Lisbon latitude). For safety reasons, there is no opportunity to turn back and recross the line. A competitor who has not crossed the starting line 60 minutes after the signal will be considered as not starting. They will have to wait until a time indicated by the race committee to start again. No departure will be given after November 18, 2020, at 1:02 p.m when the line closes.

The first boat could be home in sixty days. Expect the leaders from January 7th 2021 but to beat the 2017 race record they need to finish by January 19 2021.

Today, building a brand new IMOCA generally costs between 4.2 and €4.7million, without the sails but second-hand boats that are in short supply can be got for around €1m.

©Afloat 2020

Vendee Globe 2024 Key Figures

  • 10th edition
  • Six women (vs six in 2020)
  • 16 international skippers (vs 12 in 2020)
  • 11 nationalities represented: France, United Kingdom, Switzerland, Germany, Italy, Belgium, Hungary, Japan, China, USA, New Zealand (vs 9 in 2020)
  • 18 rookies (vs 20 in 2020)
  • 30 causes supported
  • 14 new IMOCAs (vs 9 in 2020)
  • Two 'handisport' skippers

At A Glance - Vendee Globe 2024

The 10th edition will leave from Les Sables d’Olonne on November 10, 2024

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