Waterford Port revenues rise

A record 2.7 million tonnes of cargo passed through the port of Waterford last year, generating almost €12 million in revenues for the port company.

A statement released by the Port of Waterford Company yesterday said that bulk cargo increased 11 per cent from the prior year, to 1.08 million tonnes, assisted by the shipping of 55,000 tonnes of contaminated soil from a remediated gasworks site at Waterside in Waterford. This is a once-off contract, so the gains will not be repeated this year.

During the year almost 185,000 TEU, that is 20ft equivalent container units, passed through the port, equal to 16.8 per cent of the national total and making Waterford the busiest container terminal outside of Dublin in terms of TEU handled.

The increased cargo traffic helped to boost turnover by 12 per cent year on year, while operating profit came in at €3.2 million. Cash-flow generated from operations excluding land transactions amounted to €4.8 million.

Ben Gavin, the port's chairman, welcomed the figures, saying the port had enjoyed a successful year and continued to contribute very substantially to the regional economy in the southeast as well as to the wider Irish economy.

"The port of Waterford is a vitally important piece of economic infrastructure and supports hundreds of direct and indirect jobs," he said. The efficient and cost-effective transfer of goods was of particular importance to an island economy such as that of Ireland.