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Irish Continental passenger numbers up 11%

By BFN News | 11:50 AM | Wednesday 09 June, 2010


Passenger and freight shipping services provider Irish Continental says positive trends since its May IMS have continued. Passenger numbers are up 11% for the year to date at 0.57m, says the group in its AGM statement. Forward passenger bookings for Irish Ferries have been strong during recent weeks. 'The reaction from first-time customers who used our services during the recent air disruption has been very positive and we are hopeful that this will lead to repeat business, particularly for summer car traffic.' Car numbers are down 4% and are 13% lower on the Ireland-France route due to a two-month delay caused by a vessel refit. However car volumes have been compensated for by higher yields. The company says the RO-RO freight market is showing signs of modest growth for the first time in 18 months. Irish Ferries units carried are down 13% on the previous year. Container freight volumes shipped rose by 10%, although rate levels are lower than last year. The company says it is foregoing certain flows of business because of unacceptably low rates on offer. Following weakening of the euro, fuel costs are running at about 25% to 30% higher than in 2009. However the company says weakness against sterling is a positive development for tourism to Ireland and Irish exports to the UK, both of which are core business flows. Story provided by StockMarketWire.com

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