PORT OF CORK BUCKS IRISH PORT AND SHIPPING TRENDS FOR FIRST SIX MONTHS OF 2012

The Port of Cork Company has reported increased total traffic volumes of over 5% for the first six months of 2012. This is in strong contrast with recent figures released by the Irish Maritime Development Office (IMDO) which showed a significant decrease in shipping volumes across Irish ports when six key seaports are taken into account.**

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Container traffic (Lo/Lo) increased by over 5% compared to the same period in 2011, with imports up nearly 6% and exports up almost 5%. Figures taking into account traffic in all Irish ports have shown a decline in imports of 4% and a decline in exports of 2% for the first six months of 2012.[2]<#1395d23a6efaef17__ftn2> ****

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Dry bulk cargoes also continued to perform well with the Port of Cork maintaining traffic volumes at 2011 levels for the first and second quarter of 2012. With a reported decline of -6% from all Irish ports, Cork has seen a notable rise in imports of animal feedstuffs and coal. Overall, bulk cargoes (break & liquid) are up 3% compared to the same period in 2011.****

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Port of Cork continues to see an increase in oil traffic with imports over 6% and exports up 7% while non-oil traffic also increased by 3% when compared to the same period in 2011.****

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Commenting on the traffic figures for the Port of Cork, Brendan Keating CEO said “2012 to date has seen our traffic volumes in a growth mode as we continue to serve as Southern Ireland’s gateway for trade. The Port of Cork is perfectly placed as a trading hub for European and the American Markets with its deep water facilities and as such we are continuing to expand and grow our facilities to meet our customer’s demands. As a port, our strength is in the diversity of our trades such as oil, chemicals, gas, coal, wood, animal feed, fertiliser, off-shore supply and ferries.”****

Another growth sector is our cruise business with the Port of Cork welcoming a total of 60 cruise liners calling in 2012, bringing over 100,000 passengers and crew to the region. The ports deep water and dedicated cruise terminal means it is the only port in Ireland capable of handling these vessels alongside. These cruise visits are estimated to bring in some €17 million and 200 full-time-equivalent jobs to the local economy.

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