Irish port activity indicates ’steady progress’ for economy

Port and shipping volumes grew by 2 per cent last year, although the Irish Maritime Development Office said despite these gains levels are not yet back to those before the economic collapse.

Be that as it may, volume increases in recent years, together with anticipation of continued future growth, has moved some ports to prepare for additional capacity.

Unitised trade, which includes both RoRo cargo (‘roll on, roll off’ truck based delivery) and LoLo (“lift on, lift off’ crane loaded cargo) grew strongly, reflecting both improved export performance and increased consumption in the domestic economy.

LoLo traffic grew by 9 per cent, while RoRo traffic was up by 7 per cent, with total volumes for the latter exceeding 943,000 vehicles.

Total bulk traffic, which includes dry bulk, liquid bulk and break bulk cargoes fell by 2 per cent, with the decline largely attributed to a reduced demand for imported fuels and animal feed, resulting from unusually mild weather conditions in 2014.

Liam Lacey, IMDO director, said, "Total volumes have not yet reached the levels recorded prior to the economic downturn. Port traffic remains more than 12 per cent behind the high-water mark recorded in 2007."

Dublin Port, the main hub for unitised trade, saw LoLo and RoRo volumes rise by 9 per cent and 8 per cent respectively.

LoLo traffic also grew strongly through the Port of Cork, up 12 per cent on the previous year, while Rosslare Europort recorded a 1 per cent increase in its RoRo volumes.

Buoyed by growth in both the UK and the US, Ireland’s two most important trading partners, GDP grew by 4.8 per cent, compared to the 0.2 per cent growth in 2013.

Exports increased by 2.4 per cent to €89 billion, while imports grew strongly by 7.1 per cent to €53.6 billon.

“Although the Irish economy has not yet returned to the levels of output previously recorded, there is evidence of steady progress,” the IMDO said in a statement.

“Our ports and shipping services are playing their part by facilitating international trade and supporting the export led recovery.”

In the passenger traffic sector, Irish shipping contributed to a 9 per cent growth in annual tourist visitors by adding capacity on established routes and introducing new services in and out of the country.