ISSUE 2 2011


IRELAND


Belfast Harbour could become one of the UK’s leading renewable hubs after Danish firm Dong Energy signed a letter of intent to use the port as a construction and supply base for a major offshore wind farm project.


Dong is to install 364 turbines at four sites in the Irish Sea initially, and will announce its formal decision in June. Belfast would build a new £40 million quay and develop a 50-acre Marine Energy Park where Dong could begin operations by January 2013.


Over the next 20 years, it is expected that 11,000 new offshore wind turbines will be built in UK and Irish territorial waters at a cost of around £100 billion. With almost a quarter of the planned turbines located within 150 miles of Belfast, the port looks set to be at the logistical heart of this rapidly expanding sector.


Speaking at the signing ceremony, port chairman Len O’Hagan said: “The green


economy has potential to generate significant economic activity. Given our island status and the abundance of wind and wave energy nearby, Belfast Harbour believes that Northern Ireland can translate that potential into real jobs and real wealth.


“Our hope is that the development of a Marine Energy Park for Dong will attract other environmental business to Belfast, be they manufacturers, designers or support services.” Peter Gedbjerg, UK country manager for Dong’s Power division, added: “The UK has a very


expanding


ambitious plan for the


production of


renewable energy. We hope to achieve a long and fruitful relationship with Belfast Harbour. The possibility of a tailor-made facility to make the installation of offshore wind turbines even more efficient fits perfectly with our goal of bringing down the construction cost of renewable energy.” Ernst & Young ranks Belfast as


the UK’s second most attractive city for inward investment after London, particularly in the technology and financial services sectors. Over the past five years, Northern Ireland has attracted more than 220 inward investment projects, generating nearly 21,500 jobs.


In the last three years, Northern Ireland has won 7% of foreign direct investment in the UK, yet has just 2.8% of the population. Nearly 70% of investors in Northern Ireland have already reinvested, or planning to do so. Trade volumes through Belfast are on the up again for the first time in three years. Total tonnage in 2010 grew by 5.4% after previously falling by 10% since 2007.


Container throughput improved by 4.1% in 2010 while ro-ro traffic edged up 0.8%. Bulk cargoes handled by the port increased by 11.8%, led by strong increases in agri-food. Grain shipments exceeded 2 million tonnes for the first time but some sectors, particularly construction,


continued to experience difficulties.


Cement imports fell to 48,000, an almost tenfold fall since their 2001 peak, while timber products fell by 32% to 82,000 tonnes, the lowest figure since 1985. “Four years ago, we were handling 300,000 tonnes of timber,” says Joe O’Neill, Belfast Harbour’s commercial director.


O’Neill says milk powder exports and a stronger performance by engineering companies such as FG Wilson has been encouraging. Aerospace manufacturer Bombardier is also seeing healthy exports, but he believes the overall slowdown in the economy has delayed any prospect of a direct shipping service to North America by at least two years.


Meanwhile, a row could be brewing


with the Northern


Ireland Executive, which believes the port should “release value” for the public purse via a dividend, a levy on business or even by offering up some of its land assets.


23 Putting wind in Belfast Harbour’s sails


A German trade delegation visited Belfast Harbour in February to discuss the port’s ‘green’ investment plans, including a £40m Marine Energy Park. Pictured: Joe O’Neill, the port’s commercial director, Georg Boomgaarden, German Ambassador to the UK, and port chairman Len O’Hagan


O’Neill says a figure of £15 million already appears to have been budgeted in 2013 and the same again for 2014, without any specifics on how this would be achieved. “We’re not a government body and we generate all our revenue from port users. We can’t be compelled to do anything,”


O’Neill says.


He argues that the port’s renewable energy initiative should be sufficient. “We see Dong as delivering big benefits to the wider economy – £100 million directly over the next 10 years, plus whatever multiplier you accept for the indirect benefit.”


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and consistent with our mission to guarantee our Irish customers ‘delivery unlimited’.


Dublin: Cork:


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Shannon: +353 (0)61 362600 aramex.com


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