Cork port firm optimistic Swansea ferry service will be restored

THE PORT of Cork Company is optimistic that the Swansea-Cork ferry will be up and running in time for the 2009 tourist season following extensive negotiations.

Since the service was suspended in 2007, campaigners, local representatives and the port authorities have made efforts to restore it.

Capt Michael McCarthy from the company said yesterday he was optimistic the service would be back in operation by this summer.

He said the service had not stopped because it was unprofitable, but because the ferry owner had sold the original vessel, MV Superferry, with the intention of buying a bigger ferry. However, doing this had proved difficult.

Capt McCarthy said a business plan carried out by Strategic Transport Services on behalf of the company – which is facilitating the re- establishment of the service – showed that by the third year of operations, it would be very profitable. He said they were focusing on two vessels that fell in price by up to 35 per cent over the past six months to €10-€12 million.

“We are confident the route will be financially viable, even if the price of oil rises again. The infrastructure is in place to take the ferry. We have facilities on each side, an operator and an internet booking system.”

He said an international bank had agreed to provide 60 per cent of the cost of the new ferry and there was a shortfall of about €3 million. They were very close to agreement with a number of investors and were looking for additional investment.

“We need a decision in the next two to three weeks so that the service can start advertising and people can book their holidays for this summer,” Capt McCarthy said. “We are confident that we will be able to compete on price, delivery and service on board.”

It is estimated the service contributes more than €30 million a year in tourism revenue to the Cork and Kerry region. More than three million passengers travelled on the route since it was established in 1987.

The port company reported that traffic reached 10.1 million tonnes in 2008, a fall of 5 per cent on the 2007 figures of 10.6 million tonnes.

Commenting on the performance, company chairman Dermot O’Mahoney said this “illustrated the critical importance of the port to the Irish, regional and local economy and re-affirmed Cork’s position as the premier port on the south coast of Ireland”.

The port’s container traffic fell by 6.97 per cent from 200,000 TEUs (units of cargo capacity) in 2007 to 187,000 TEUs in 2008.

Reflecting the global downturn in the car industry, the number of vehicles handled in the port in 2008 was 53,000, down 31.44 per cent on 2007.

The port hosted a record number of cruise vessels in 2008, with 51 ships bringing over 60,000 passengers and contributing over €44 million to the region.