Dublin Port experiencing record volumes of trade

Nearly 20 ships a day are docking at Dublin Port, resulting in record volumes of trade and passenger numbers.

In its latest trading update, the Dublin Port Company said throughput, a measure of total imports and exports, rose by 6.8 per cent to 8.4 million tonnes in the first quarter of 2016, with 1,790 ship arrivals.

This comes on the back of a record 32.8 million tonnes last year.

Chief executive Eamonn O’Reilly said throughput would double within 10 years if this rate of growth continued.

The company announced it would pay the Government a dividend of €10.9 million for 2015, bringing the total dividend payment since 2007 to €89.5 million.

Redevelopment project

The port has also started work on its

Alexandra Basin Redevelopment

project. The scheme, the largest ever undertaken by the port, will deepen the navigation channel to allow for bigger container and cruise ships.

It is expected to take four years to complete, costing an estimated €230 million, with the European Investment Bank (EIB) committing €100 million over 20 years.

"In light of the continuing high level of growth, we will also this year begin to plan other major Masterplan projects which will be required if we are to have the capacity available in time to meet the expected high levels of future growth," Mr O'Reilly said.

Dublin Port said it had the financial resources for this major infrastructure development programme, having seen turnover grow by 7.8 per cent to €77.7 million last year and core earnings (Ebitda) grow by 14 per cent to €49.3 million.

The port’s latest quarterly numbers show that exports grew nearly 8 per cent during the three-month period, while imports rose by 6 per cent.

The largest parts of Dublin Port’s business are ro-ro (roll-on-roll-off) freight trailers, which grew by 7.1 per cent to 221,696 units, and lo-lo (lift-on-lift-off) containers, which grew by 11.5 per cent to 163,005 units.

The increased volumes were linked to growth in the domestic economy drawing imported goods, such as vehicle and petroleum products, from overseas markets.

The figures also show that the tourism business performed strongly, with ferry operators Irish Ferries, Stena Line and P&O increasing passenger volumes by 2.6 per cent and tourist vehicle numbers by 6.3 per cent.

Cruise business

The port’s cruise business started early this year with three calls from large liners in the first quarter.

The largest container ship to visit an Irish port docked in Cork Harbour last Friday with a consignment of more than five million bananas. The Liberian-registered MV Northern Dedication measures 230 metres, more than twice the length of the pitch at the Aviva Stadium, and weighs 42,000 tonnes.