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18/02/2009
Port Of Belfast Hit By Construction Trade Slump
Leisure traffic has proved to be a winner for the Port of Belfast.
However, figures just released show that while 2008 was the best year ever for Belfast's growing popularity with cruise ships, the recession has been reflected in a substantial drop in cargo - and especially in the construction sector.
On one hand there was a record 39 cruise liners stopping off at the port - delivering 65,000 passengers and crew into the city - but cargo was down 5.5% to 16.5m tonnes.
Construction industry sectors were particularly badly hit - there was a plunge in timber imports of 38% and steel imports fell by 21%.
Although container traffic also reduced by 5% - with 153,000 boxes carried compared with 161,000 in 2007, not all trade sectors fell.
The port said passenger traffic was static at 1.2 million, scrap metal rose by 8.6%, fertiliser imports were up five percent and the stone trade saw a four percent rise - driven by additional road maintenance projects in Britain.
Some 60% of all seaborne trade in and out of Northern Ireland goes through the port so it is seen as a good indicator of how the local economy in general is performing.
The port, which celebrated what it called a strong performance despite the general downturn, said it was continuing to support the local construction sector by completing and commencing the building of new port facilities during 2008 with a combined value of £60m, helping to support 750 jobs.
In his upbeat summary, Roy Adair, the Chief Executive said: "For the last four years the port has reported record levels of trade carried, so given the current economic climate it was anticipated that there would be some slippage in 2008.
"Despite that fall, however, the figures represent a robust performance by the port in what was a turbulent year for the global economy".
"There's no doubt that this is going to be a painful part of the business cycle, but the economy will recover and we are confident that when it does, it will grow strongly," he said.
(BMcC/JM)
However, figures just released show that while 2008 was the best year ever for Belfast's growing popularity with cruise ships, the recession has been reflected in a substantial drop in cargo - and especially in the construction sector.
On one hand there was a record 39 cruise liners stopping off at the port - delivering 65,000 passengers and crew into the city - but cargo was down 5.5% to 16.5m tonnes.
Construction industry sectors were particularly badly hit - there was a plunge in timber imports of 38% and steel imports fell by 21%.
Although container traffic also reduced by 5% - with 153,000 boxes carried compared with 161,000 in 2007, not all trade sectors fell.
The port said passenger traffic was static at 1.2 million, scrap metal rose by 8.6%, fertiliser imports were up five percent and the stone trade saw a four percent rise - driven by additional road maintenance projects in Britain.
Some 60% of all seaborne trade in and out of Northern Ireland goes through the port so it is seen as a good indicator of how the local economy in general is performing.
The port, which celebrated what it called a strong performance despite the general downturn, said it was continuing to support the local construction sector by completing and commencing the building of new port facilities during 2008 with a combined value of £60m, helping to support 750 jobs.
In his upbeat summary, Roy Adair, the Chief Executive said: "For the last four years the port has reported record levels of trade carried, so given the current economic climate it was anticipated that there would be some slippage in 2008.
"Despite that fall, however, the figures represent a robust performance by the port in what was a turbulent year for the global economy".
"There's no doubt that this is going to be a painful part of the business cycle, but the economy will recover and we are confident that when it does, it will grow strongly," he said.
(BMcC/JM)
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