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Dublin Port records third successive year of growth

Written by Robert McHugh, on 16th Jan 2018. Posted in General

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Dublin Port Company has today reported full year trading figures for 2017. The latest figures show that cargo volumes through Dublin Port hit record levels for the third successive year with growth of 4.3% to reach a new record level of 36.4m gross tonnes in 2017. This brings overall growth at Dublin Port in the five years since economic recovery began in 2013 to +30.1%. 
  
Looking at the 2017 trade figures in detail, imports grew by 3.9% to 21.5m gross tonnes while exports grew more strongly by 4.9% to 14.9 million gross tonnes. Containers and freight trailers account for 83% of all cargo. 
  
Passenger volumes on ferries grew for the second year in a row with passenger numbers ahead by 1.8% to 1,846,553. Similarly, the number of tourist vehicles grew by 1.9% to 514,908.

In addition, Dublin Port’s cruise business grew strongly with 127 cruise ship arrivals and growth of 32% in visitor numbers, breaking the 210,000-mark for the first time. Importantly, cruise ships are getting bigger and the average cruise ship calling at Dublin Port increased in size by 13.3%, from 39,946 gross tonnes to 45,270 gross tonnes.
  
To facilitate future growth, Dublin Port continues to invest in new infrastructure based on its Masterplan to 2040 and a programme of works is already underway. The company invested €75 million in port infrastructure in 2017 and plans to invest a further €132m during 2018.
  
Commenting on the results, Dublin Port’s Chief Executive, Eamonn O’Reilly said, "Growth of 4.3% in 2017 confirms that the longstanding trend of compounding annual growth in Dublin Port is back. Every year from 1993 to 2007 was a record year in Dublin Port. In the past three years we have seen this pattern re-emerge, with 2017 the third year in a row for record growth."

He added, "We are projecting another record year in 2018 with growth of about 5%. Dublin Port’s growth is driven by domestic demand and both population growth and a stronger economy will continue to drive volumes up for the foreseeable future."

Source: www.businessworld.ie

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