2.5.3 Shannon Foynes Port Company

2.5.2 Port of Cork Company The Port of Cork Company is one of only two ports, the other being Dublin, capable of handling traffic across all five principal traffic modes (LoLo, RoRo, Break Bulk, Dry Bulk and Liquid Bulk). It handles approx. 19% of all seaborne trade in the State. It is second only to Dublin in its importance in the LoLo sector, handling around 21% of all LoLo traffic in the State (IMDO, 2012a).

2.5.3 Shannon Foynes Port Company Shannon Foynes Port Company is the largest bulk port in the country and handles approx. 20% of all seaborne trade in the State. The port’s dominance in the dry-bulk sector is particularly pronounced; it has a market share of around 63% in this sector (IMDO, 2012a).

The company has sought to diversify into other sectors through, for example, promoting the estuary as a specialist energy hub, in particular in the emerging, experimental ocean energy sector (offshore wind and wave energy).

The Port of Cork’s Strategic Development Plan Review, published in 2010, outlined the company’s intention over time to relocate commercial trade to the lower harbour area at Ringaskiddy. The Port of Cork is continuing to engage with relevant stakeholders with a view to a phased implementation of this review’s recommendations.

Shannon Foynes Port Company is currently undertaking a master-planning exercise with a view to outlining its vision for its development over the next 30 years. In addition, it is working with other stakeholders in the Shannon estuary area on the completion of an Integrated Framework Plan for the estuary as a whole, as provided for in the Mid-West Regional Planning Guidelines.

The Government endorses the core principles underpinning the company’s Strategic Development Plan Review, and the continued commercial development of the Port of Cork Company is a key strategic objective of National Ports Policy.

National Ports Policy clearly identifies as a matter of reasonable priority the improvement of the road and rail freight connections to Shannon Foynes Port. In particular, it supports the re-opening of the rail freight connection, provided it is commercially viable.

The continued commercial development of Shannon Foynes Port Company is a key strategic objective of

Table 2.5: Port of Cork Company overview	National Ports Policy.
	1998*	2010	2011
Tonnage (’000)	8,895	8,466	8,434
	13,800	21,997
Operating Profit (€’000)	5,624	2,027	1,313
	5,543	2,114
Employees	104	107	107

• 1998 was the first full financial year as a commercial port company

Table 2.6: Shannon Foynes Port Company overview

	2001*	2010	2011
Tonnage (’000)	10,708	9,134	9,899
	7,158	9,928
Operating Profit (€’000)	-3,266	2,531	2,858
	-2,945	1,103
Employees	55	44	42

• 2001 was the first full financial year of the amalgamated Shannon Foynes Port Company