Dublin Port Ups Investment into Infrastructure in 2018
Ireland’s Dublin Port Company plans to accelerate with its investment plans to ensure sufficient port capacity in the future.
Based on its Masterplan to 2040, the port has invested EUR 75 million (around USD 91.6 million) in port infrastructure in 2017. A further EUR 132 million will be invested during 2018, with a program of works already being underway.
“Dublin Port’s multi-million euro infrastructure investment programme is matching our customers’ continuing investments in new ships. Irish Ferries has committed EUR 165m in a huge new ship for the Dublin-Holyhead route due by mid-2020. Later this year, the EUR 150m W.B. Yeats will commence a service from Dublin to Cherbourg. In October last year, CLdN introduced the enormous 8,000 lane metre MV Celine on its Dublin to Zeebrugge / Rotterdam service,” Eamonn O’Reilly, Dublin Port’s Chief Executive, commented.
“While BREXIT brings uncertainties and challenges to our business, the combination of investments by our customers and by Dublin Port is underpinned by a shared confidence in the future. Over the next two months, we will finalise our plans for the required re-introduction of border controls on trade with Britain and I am confident that the controls required will not significantly hinder the movement of goods or people through Dublin Port,” he added.
In 2017, the port’s cargo volumes hit record levels for the third successive year with growth of 4.3%, reaching 36.4 million gross tons. This brings overall growth at Dublin Port in the five years since economic recovery began in 2013 to +30.1%.
Imports grew by 3.9% to 21.5 million gross tons while exports grew more strongly by 4.9% to 14.9 million gross tons.
“Growth of 4.3% in 2017 confirms that the longstanding trend of compounding annual growth in Dublin Port is back. Every year from 1993 to 2007 was a record year in Dublin Port. In the past three years we have seen this pattern re-emerge, with 2017 the third year in a row for record growth. We are projecting another record year in 2018 with growth of about 5%,” O’Reilly concluded.