Port of Cork reports rise in cruise liner calls to Cork and Bantry

There were over 100 cruise liner calls to the ports of Cork and Bantry last year, generating significant revenue for the local economy.

The Port of Cork Company’s (PoCC) 2023 Annual Report showed that cruise liner calls to Cork and Bantry increased by 16% in 2023, at 106 calls.

These cruise liners carried 190,000 visitors in 2023 and generated around €17m in revenue for the local economy, which is set to further increase this year.

Other port traffic experienced slight declines, which the company said was expected as the economy adjusted post-covid and it navigated challenges such as rising interest rates, inflation, and global events.

The report showed group turnover of €48.4m, consistent with the previous year, while operating profit from continuing operations was €7.5m, down from 2022, reflecting increased interest charges and additional operational costs.

PoCC chief commercial officer Conor Mowlds said the decrease in operating profit before tax can be attributed to several factors, including a €1m increase in interest charges, a €0.9m decline in storage revenue, and an additional €1m in costs associated with operating dual container terminals in Tivoli and Ringaskiddy which will likely continue until the M28 is upgraded to enable full relocation from the city centre.

“Despite hurdles faced last year, our performance underscores our resilience and commitment to growth and excellence. We have a relentless focus on operational efficiency and cost management,” said Mr Mowlds.

He said PoCC remains committed to driving growth and enhancing its service offerings to support the economic development of the region.

“To ensure financial sustainability, PoCC continues to implement measures such as reducing costs, seeking additional income streams, and divesting under-performing non-core assets,” he said.

“We are confident that with our strategic initiatives and robust operational framework, we will continue to deliver exceptional value to our stakeholders.”