Dublin Port Company Trade Figures Release
Dublin Port Company reports better than expected second half-year trade figures in 2009
Trade levels stabilised since May and up slightly year on year in December
Ferry passengers surge by 18% in 2009 at Ireland's largest port
Wednesday 27. of January 2010
Dublin Port Company today published trade statistics at Ireland’s largest port which show that import and export levels stabilised in the second half of the year following falling trade levels in the first half of 2009. As a result total imports and exports at Dublin Port were slightly better than predicted, down 10.5% year-on-year, which was a lower reduction than an expected fall of 14% which we predicted at the half year stage. Consequently, total throughput is only 14% lower than the record highs of 2007 and Dublin Port is still handling four to five times the level of trade than 15 years ago. December saw a slight uplift year-on-year.
The strongest performance was in the tourism sector where ferry passenger numbers rose by 18% to 1.5 million, the best year for ferry tourism at the port since Dublin Port Company was corporatised in 1997. Our cruise business continues to deliver for city businesses with almost 80 cruise liners calling at Dublin Port contributing between €35 and €50 million to the local economy. This topped off a highly successful decade for Dublin’s cruise sector which benefited the city to the tune of €350 million with 500,000 passengers calling at Dublin Port.
2009 trade statistics summary:
Trade
• Total throughput – 26.5 million tonnes (29.6 million in 2008), down 10.5%
• Unitised trade – 20.7 million tonnes (23 million in 2008), down 10%
• Bulk Liquid – 4 million tonnes, down 0.7%
• Bulk Solid (8% of Dublin Port’s business) – 1.6 million tonnes (2.4 million in 2008), down 34.8%
Tourism
• Ferry passengers – 1.5 million (1.3 million in 2008), up 18%
• Tourist cars – 183,000 (147,000 in 2008), up 24%
• Cruise liner visits – Almost 80 which is in line with previous years
• Cruise passengers and crew – 120,000, in line with previous year
Unitised trade which accounts for 78% of Dublin Port’s throughput was 10% lower than 2008. This trade comprises consumer goods and the reduction is reflective of the fall in retail sales during the year. The largest falls in trade levels have been seen in the Bulk Solid trades (8% of Dublin Port’s throughput) which comprise items such as animal feed, ore exports and construction material and reflect a difficult year in the agriculture sector and significant falls in construction activity. Bulk liquid levels have remained relatively stable, broadly in line with the previous year. Bulk liquid trade is mainly comprised of the import of motor fuel and aviation spirit and Dublin Port handles 45% of petroleum products in Ireland.
The port also handled a number of interesting assignments during the year including welcoming the new Samuel Beckett Bridge in May which arrived on a 90 metre barge from Rotterdam, 15,000 cubic metres of the steel for the roof of the newly constructed Lansdowne Road stadium as well as wind turbine blades for wind farms which measure 47 metres each. Speaking about the diversity of trade at Dublin Port, Michael Sheary, Chief Financial Officer, Dublin Port Company, commented; “It could be said that Dublin Port handles everything from fridges to bridges!”
Dublin Port continues to be the port of choice for importers and exporters given its location at the heart of Ireland’s largest market. During the year Dublin Port Company secured a major new Ro-Ro service for Dublin when the port was chosen by Cobelfret (CLdN sa shipping group) as a hub for four new sailings to and from mainland Europe (Rotterdam and Zeebrugge). Also, a twice weekly rail service introduced from Ballina, Co. Mayo to Dublin in August is operating successfully and is estimated to take 3,750 trucks of the road in a full calendar year which will have significant benefits from an environmental perspective as it is the most environmentally sustainable form of transport. This new service confirms that Dublin Port is a rail hub for the island of Ireland and we are well positioned to handle additional services given the rail infrastructure that exists within the port estate. Further underpinning Dublin Port’s popularity among shipping companies to access the market of the Greater Dublin Area was the decision of Seatruck to add two new vessels on the Dublin to Liverpool route during the year.
Discussing Dublin Port Company’s outlook for trade levels in 2010, Michael Sheary added: “Our outlook for the first half of 2010 is that trade levels will continue to stabilise at around 2.2 million tonnes per month. Any significant increase in throughput in the second half of the year will be dependent on a number of factors including improved consumer sentiment for imports and the strength of the euro against Sterling which is a particular issue for exporters and renewed growth in the economies of our main trading partners. Should these factors turn in our favour, the uplift in trade could bring our total throughput on an annualised basis close to 28 million tonnes for the latter part of the year.”
Commenting at the launch of the 2009 trade statistics, Enda Connellan, Chief Executive of Dublin Port Company, said: “It is encouraging to see that trade levels have stabilised over a number of months in what has been a very challenging year for Ireland’s economy. While trade levels have fallen from the record highs of 2007, total throughput is down 14% from peak levels. Therefore, we are still handling four to five times the level of trade than we did 15 years ago. Given that Ireland is more dependent on trade for growth in GDP than any European country, with the exception of the Benelux countries, the future economic wellbeing of this country’s economy is dependent on the efficient movement of goods. Dublin Port Company is very conscious of the role we play in helping to drive economic growth by operating a modern, efficient port perfectly located at the heart of Ireland’s largest market. This together with the introduction of eight competing terminals within the port has also been an important factor in trade competitiveness.”
Welcoming the stabilisation in trade levels, Mr. Billy Kelleher TD, Minister for Trade and Commerce said: “I am pleased to see that trade levels at Ireland’s largest port have stabilised in the second half of 2009. Dublin Port handles almost half of Ireland’s imports and exports so activity there is a key barometer of what is happening in the economy. Ireland’s recovery will be export-led so we will depend on our ports to facilitate trade. Ireland’s competitiveness too is key so it is encouraging to see that our principal port is playing its part by having eight competing terminals as well as keeping prices to their customers lower than they were 20 years ago.”
Dublin Port Company’s Annual Report for 2009 will be published later in the year.
Dublin Port Company