By Business & Finance 
Combined traffic at the Port of Cork and subsidiaries amounted to 11.02 million tonnes, compared to 10.15 million tonnes in 2015, representing an increase of 8.6%.
Container traffic at the Tivoli Container Terminal increased by a further 8% following a 13% increase in 2014, oil traffic increased by 21%, trade car imports increased by 48% and 56 cruise liners with a gross tonnage of 4 million tonnes, brought a record 144,000 passengers and crew to the region in 2015.
Turnover for the year 2015 amounted to €29.8m, up from €26.4m in 2014.
Consolidated Profit on ordinary activities before taxation amounted to €5.3m, compared to €2.7m in 2014, an increase of €2.6m.
Chief executive Brendan Keating commented: “Our annual results for 2015 are very encouraging and reflective of the capabilities of the Port to support growth in the Irish economy. We are hopeful that the upward trend will continue over the next three to four years.”
Port of Cork chairman John Mullins added: “For Ireland to achieve economic growth, it is critically important that the investment is made by the Port of Cork in port infrastructure. This investment will help consolidate the Port of Cork’s position as a key trade node in global supply chains, generating increased volumes of trade and increased levels of employment.”
In 2015 the Port’s commitment to the development of infrastructure was supported by An Bord Pleanala by the granting of planning permission to the further development of Ringaskiddy port.
The first phase of the Ringaskiddy development includes an optimised 360-metre single berth with supporting quay development and equipment.
The project will be financed from cash reserves, EU CEF financial support, EIB funding and other bank loans.
