Increased traffic at the Port of Cork due to the fodder crisis and increased container traffic at Tivoli saw the port’s annual turnover increase by almost €4 million in one year.
The Port of Cork company turnover in 2018 amounted to €35.4 million, an increase of €3.9 million on the previous year.
The combined traffic of both the Ports of Cork and Bantry increased to 10.66 million tonnes in 2018 up from 10.3 million tonnes in 2017, an increase of 3% due to increased bulk cargo activity as result of the 2018 fodder crisis and increased container traffic at Tivoli.
In May 2018, the Port of Cork Company commenced the Ringaskiddy Port Redevelopment project in the lower harbour which aims to future-proof the Port of Cork Company as an international gateway for trade.
“Overall we are very pleased with the 2018 annual results as we move forward with the Ringaskiddy Port Redevelopment,” said John Mullins, Chairman of the Port of Cork.
“The stated policy of the Board of the Port of Cork Company is to support the Shareholder and following approval from the Board in April 2019; the Directors agreed a dividend payment of €250,000 in 2019 in respect of the 2018 financial year,” he added.
Chief Executive, Brendan Keating added that the company is constantly monitoring the potential impact of Brexit on port activities from both a national and EU trade perspective.
In 2018, the Port hosted 93 cruise ships, carrying in excess of 200,000 passengers and crew.