Buoyancy in Container (LoLo) Traffic a Positive for Port of Cork

Buoyancy in Container (LoLo) Traffic a Positive for Port of Cork

Monday 27 January 2020

Buoyancy in Container (LoLo) Traffic a Positive for Port of Cork

The Port of Cork has reported that the combined total traffic through both the Port of Cork and Bantry Bay Port Company took a dip of 5% from 10.6 million tonnes, to just over 10 million tonnes in 2019. The cause for this minor decline is attributed to less volumes of dry bulk cargo through the port. Overall total imports decreased by 7% while exports decreased by 3%.

A key area, particularly for the Port of Cork as they look to complete and open Cork Container Terminal in 2020, was the continued increase in container or LoLo traffic in 2019.  Over 240,000 TEUS were handled in 2019, a 5% increase on the previous year.

Brendan Keating, Port of Cork Chief Executive said: ‘2020 will be a significant year for the Port of Cork as we prepare to complete and open the €86 million Cork Container Terminal development in Ringaskiddy, so seeing continued growth in container volumes through both Tivoli and Ringaskiddy is very encouraging.’

He continued: ‘Once operational the new terminal will enable the port to handle up to 450,000 TEU per annum. We already possess significant natural depth in Cork harbour, and our work in Ringaskiddy Port will enable us to accommodate vessels of 5500 to 6000 TEU, which will provide us with a great deal of additional potential for increasing container traffic.’

In 2019 oil traffic handled through Whitegate Oil Refinery owned by Canadian company Irving Oil, saw a decrease of 9% partially due to a planned maintenance shut down in August.

In 2019 the Port of Cork handled 100 cruise liners bringing over 243,000 passengers and crew to the region, while Bantry Bay Port Company welcomed 10 cruise liners to the harbour town. In 2020 a record 102 cruise ships are scheduled to call between March and December.

The Port of Cork jointly with Lanber Holdings purchased Marino Point in 2017 and following consultation with Belvelly Marino Development Company, stakeholders, residents and a design team, the Belvelly Port Facility Masterplan was developed. The masterplan sets out the strategic approach of Belvelly Marino Development Company and is a guide to the future development of Belvelly Port Facility. It is envisaged that Marino Point will be developed to accommodate a range of industrial and port related activities and could become a dynamic industrial hub for the area, thus creating employment.

Brendan Keating said: ‘As part of the Project Ireland 2040 National Planning Framework, one of the key future growth enablers for Cork is to deliver large scale regeneration projects for the provision of new employment and supporting infrastructure in Cork Docklands, as integrated, sustainable developments, including relocation of sites from the City Docks. Belvelly Port Facility has been identified to enable this type of growth.’

ENDS

For further information please contact:

Sara Mackeown
Commercial Marketing Executive
Port of Cork Company
Custom House Street
Cork
T12 CY88
Ireland

DD +353 21 4625375
Mobile 086 1044011
www.portofcork.ie

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