Tuesday, November 10, 2009

Irish Transport Group Figures Indicate Passenger Versus Truck And Container Trends

Profits down but Mix of Services Steadies the Ship
Shipping News Feature

IRELAND – Irish Continental Group, whose interests range from freight terminal management to European container feeder services, have just issued and interim management statement indicating profits in the third quarter. Compared to Q3 profits from 2008 they inevitably do not set pulses racing. However a closer analysis of the figures makes for interesting reading.

Group revenue for the year to the end of Q3 was down to €197.8 million, a drop of around 26% with the reduction in operating profit for the period was 36% to €24.1 million but until June this year the group had only recorded a €7.1 million operating profit against last years €17.3 million.

Much of the groups figures are dependant on car ferry numbers and what is significant for freight interests are the comparisons between the different sectors. In a hard market from 1st July to 31st October 2009 there was an increase in passenger numbers of 1% and cars 2%. Compare this with RoRo freight volumes down 16% to 66,000 movements and container numbers down 19% to 143,000 TEU’s.

 Irish Continental operate a Lift On – Lift Off (LoLo) freight network through Netherlands based Eucon between Ireland and the Continent, and Eurofeeders and Feederlink which operate dedicated feeder services to the major deep sea container ports throughout Europe. Plus stevedoring and storage facilities for container traffic in Dublin through DFT and Belfast via BCT in their respective terminals.