Coronavirus: Dublin Port warns of ‘very significant’ decline in volumes

The volume of goods travelling through Dublin Port fell by 470,000 tonnes in the first quarter, a 4.8 per cent decline versus the same three months a year earlier.

The Dublin Port Company attributed the decline to the Covid-19 crisis and disruptions arising to bad weather in February. In addition, import volumes were significantly higher in the same quarter a year earlier due to Brexit stockpiling.

Chief executive Eamonn O’Reilly warned that second-quarter tonnage figures would be significantly lower due to the current crisis.

“Although our throughput was behind that of 2019, volumes in the first quarter were still ahead of the same quarter in 2018 by 1.9 per cent,” he said.

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“The not-too-disappointing figures for the first quarter are irrelevant, however, as we look ahead to the second quarter during which we will see a very significant decline in volumes across all cargo modes and in passenger traffic,” Mr O’Reilly added.

He said the outlook for passenger traffic for the rest of the year was “bleak” while a continuing decline in imports of vehicles also “seems inevitable”.

Ferry passenger volumes fell by 17.8 per cent to 224,000 in the first quarter and just one cruise ship called to the port. Imports of new vehicles decreased by 10.3 per cent to 30,000.

Unitised trade, which encompass trailers and containers, fell by 4.4 per cent to 360,000 units with roll-on/roll-off (Ro-Ro) trade declining 5.3 per cent to 256,000 units and lift-on/lift off (Lo-Lo) falling 2.2 per cent to 187,000 20-ft equivalent unit (TEU).

Bulk liquid volumes, primarily petroleum products, grew by 4.4 per cent to 1.1 million tonnes during the quarter under review.

Aviation fuel accounts for more than one-fifth of all petroleum imports in Dublin Port and Mr O’Reilly said the impact of coronavirus on air travel would lead to a large decline in imports in the months ahead.

Bulk solid commodities declined 13.2 per cent to 468,000 tonnes.

Mr O’Reilly said the port was in a good position to absorb the shock of reduced volumes as a result of the Covid-19 crisis due to steps taken recently to reduce its cost base.

“We are well placed to continue the long lead time challenge of providing additional port capacity for long-term growth,” he said.