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Displaying items by tag: ICG trading results

#IrishFerries - Irish Ferries a division of owners Irish Continental Group (ICG) reported a 1.6pc rise in revenues in the year so far, and said it has a low level of exposure to sterling.

As the Independent.ie writes the company behind Irish Ferries, which operates between Ireland and Britain, said in a trading update that the impact of the plunge in sterling since the Brexit vote in June had so far been offset by lower costs.

The company said it had a low level of net sterling exposure. In the 10 months to the end of October, (ICG) consolidated revenue was €280.2m, up 1.6pc from a year ago, it said.

Net debt stood at €25.6m at the end of the period, compared to €44.3m at the end of 2015. Construction of a new cruise ferry announced on May 31 remains on schedule for delivery in May 2018, the company said.

For more detailed financial trading figures released by ICG click here 

Afloat adds that their ropax ferry MV Kaitaki (formerly Isle of Inishfree) remained on charter, operating in New Zealand, while four container ships (see EUCON trading results report) acquired in late 2015 were fully deployed in the period.

Also previously covered on Afloat, the charterer of the HSC Westpac Express exercised their option to extend the charter for a further period of up to 12 months to October 2017. The charter is subject to usual US government procurement regulations and the charterer has further options to extend the charter up to mid 2021.

The construction of a new 50,000 gross tonnage cruise ferry costing €144m announced in May this year remains on schedule for delivery in May 2018.

Published in Ferry

Irish Sailing Classes and Association – There’s no shortage of one-design classes from which to choose and each gives its enthusiasts great competition, fun and camaraderie, writes Graham Smith in this review of the classes. 

One-design racing is where it all starts. It is, after all, where all the top sailors earned their stripes, battling away for line honours without a thought for a handicapper’s calculator wiping away a hard-fought victory!

Indeed, you could count on less than one hand the number of top Irish sailors who didn’t cut their teeth in a one-design dinghy! Just think of Cudmore, Barrington, Watson, Wilkins, Hennessy and Dix to name a few and you realise that they honed their skills in everything from Enterprises to Lasers and a lot in between.

At present count, there are a little over 30 one-design classes in Ireland, split almost evenly between dinghies and keelboats, a statistic which might raise a few eyebrows. They range from the long-established Mermaids, IDRA14s and Dragons to the newer additions like Fevas, Topaz and RS Elite. They all fill a particular need and give their owners and crews considerable enjoyment.

Many have attracted their World or European Championships to Irish waters over the years and while 2009 is notable for a lack of such events here, the following year will see the Etchells Worlds at Howth and perhaps a few other international regattas too.

In addition to the review, we asked each class to complete a questionnaire giving details of their fleet numbers, whether they were on a growth pattern or holding their own, so we could highlight those ‘on the up’ and those remaining static in terms of numbers. The older traditional designs, as you might imagine, fall into the latter category, although that’s not a negative!

CLASS REVIEW  The State of the Classes – League Table (as at February 2009)

S = Static; U = Up/growing

275     Optimist   U

200+   Laser   S

189     Mermaid   S

160     Flying Fifteen   S

130     RS Feva   U

115     Shannon One Design    U

100+   Mirror   S

100+   Topper   U

99       Topaz   U

94       Laser SB3   U

87       GP14   U

85       Squib   S

70       Fireball   S

70       Ruffian   S

60       J24   S

60       Shipman   S

52       Dragon   S

50       RS400/200   S

50       420    U

43       Multihulls    U

42       Dragon    S

40       Water Wags    U

40       Wayfarer    S

34       IDRA14    U

33       Puppeteer    U

28       Etchells    S

27       E-Boat    U

26       Glen    S

25       Enterprise    S

18       Sigma 33    S

18       Howth 17    U

13       RS Elite    U