2.7.4 New Ross Port Company

and corporate governance oversight of the Harbour Company from the Department to a more appropriate local or regional structure.

Similar to Dún Laoghaire harbour, the location of the harbour close to Galway’s city centre limits its potential for further expansion in terms of increasing trade. However, the inner harbour is an immensely attractive location for the development of marine tourism and leisure facilities, in particular a marina, as well as for urban redevelopment.

The Department will initiate discussions with the local authorities, the Harbour Company and other relevant stakeholders to determine the most suitable method of transfer, within the framework set out in section 2.7.7.

While there is no Exchequer support available for these developments, National Ports Policy endorses the development proposals in respect of the inner harbour, as referred to in the Regional Planning Guidelines for the West Region 2010–2022 and the Galway City Development Plan 2011–2017, for marine tourism and leisure facilities as well as for urban redevelopment and regeneration. Furthermore, the Government notes the return of cruise tourist traffic to Galway harbour in 2012, and supports the company’s efforts to develop this business.

2.7.4 New Ross Port Company New Ross Port Company is a bulk port that principally handles dry bulk products. While the port company is the statutory authority for the management of the port, locally based private sector companies own and operate the principal freight-handling facilities.

As with the other smaller port companies, traffic levels have declined significantly at the port; however, it retains important regional and local economic functions. In this regard, the important issue is to maintain the port facilities as an asset for the region. In the specific case of New Ross, a number of options present themselves, including a merger with another port company, transfer to a local authority or the sale of the asset to private investors.

The Department of Transport, Tourism and Sport and other relevant agencies are currently giving detailed consideration to the plans to relocate commercial port activities to a new site on reclaimed land.

Given the scale of the existing commercial freight traffic through the port (1% of national traffic), the fact that more than half of the company’s income comes from non-core port activity, and the extent to which its future plans are based on urban regeneration, marine leisure and tourism, it is proposed to transfer the shareholder function

The Department will initiate discussions with the local authorities, the Port Company and other relevant stakeholders to determine the most suitable method of transfer, within the framework set out in section 2.7.7.

Table 2.11: Galway Harbour Company overview

	1998*	2010	2011
Tonnage (’000)	599	671	554
	1,188	3,841
Operating Profit (€’000)	146	672	781
	128	312
Employees	14	16	14

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

Table 2.12: New Ross Port Company overview

	1998*	2010	2011
Tonnage (’000)	1,020	444	357
	1,287	911
Operating Profit (€’000)	86	-22	-13
	123	-45
Employees	11	5	5

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