Cork 2023: Strong foundations for Port of Cork to build upon
After experiencing a strong 2022, Port of Cork is further cementing itself as a key component of Cork’s economic activity as well as its future in renewables
With the Cork Container Terminal (CCT) launch last year, the Port of Cork has experienced substantial traffic and growth.
Some 10 million tonnes of trade passed through the Port of Cork in 2022, and container traffic amounted to a record 282,781 TEUs (Twenty-foot Equivalent Unit), a slight increase of 965 TEUs in 2021, it’s been a year of solid performance for the organisation.
With turnover for 2022 amounting to €48.4 million, an increase from €39.8m in 2021, it shows that the company is on an upwards trajectory.
Conor Mowlds, chief commercial officer for Port of Cork Company, described the Cork Container Terminal as “the single biggest, tangible development”.
"We're very proud to have delivered that project, but it's also made a significant difference in our capabilities," he said. We're still operating the container terminal in Tivoli, but now we're a two-terminal port, and that makes a significant difference to our delivery capability."
That capability expansion is crucial for several reasons. Its geographical position is a major boon – with one of the world's largest deep-water, multimodal berths, the container vessels facilitated in Ringaskiddy is the largest that can be accommodated anywhere in Ireland.
Its position has allowed it to develop routes it couldn't before, having two direct routes to the United States and a link with Maersk to bring in citrus fruits and bananas from Central America.
Yet it's not just container vessels that use the port; one industry that has made a return in recent times is cruises. Port of Cork is the home to Ireland's only dedicated cruise terminal and saw numbers return to pre-pandemic levels. It expects 113 cruise ships to be scheduled to visit in 2023, compared to 100 vessels in 2019.
The CCT has further scope for growth and when fully operational, on completion of the M28 road network, it will have the capacity to handle 330,000 TEUs of cargo. This is expected to have significant economic benefits for Cork and the Munster region and the national economy.
All of this ties into the Masterplan 2050, a regional plan that views the estuary as a whole, considering both opportunities afforded by maritime, landside and transport connectivity.
Moving more of the port activity from the city further down the river to deep waters allows it to take in more vessels and larger ones to boot.
"Our masterplan has taken into account all of the regional development concepts," he said.
"We've worked in partnership with all of the stakeholders in the local area to make sure the masterplan is cohesive.
“Moving the Port of Cork out of the city, down the river to the deep water harbour in Ringaskiddy and what that mean is… that frees up the heart of Cork for regeneration.
“The masterplan is something we're really proud of, that itself took a lot of effort and time and engaging with all of our stakeholders, not just our customers, to make sure that plan is cohesive and serve us into the future. That will be hugely important to not just the regional economy but the Irish economy, like supporting off-shore wind and renewable activities.“
Speaking of which, the other area that the port can facilitate is generating renewable energy. Cork harbour already produces 25 per cent of Ireland's energy but in the country's move towards sustainable energy, it's in a strong position to service these areas.
"One hugely important factor is that we're the only port at the moment with planning permission to build the key walls necessary to support off-shore wind," said Mowlds. "We're currently working on the business case and identifying the funding mechanisms we'll need to develop that infrastructure to support the national drive."
And it's not just off-shore wind; there is also efforts to include green biofuels, with the country's first biofuel terminal officially opening in Cork earlier this month. Ensuring space for transition fuel, off-shore winds, and other activities is also a major component behind Ireland's green energy initiatives.
