The Celtic Tiger has regained its roar, say economists. Following strong growth in the Irish economy in 2014, the pace will slacken a little but it is still likely to be the fastest-expanding country in 2015, according to the European Commission’s winter forecast. While much of the rest of the


Eurozone remains stagnant, exports have led the country out of


Exports lead economy out of recession Bulks boost Belfast


30


recession. Gross Domestic Product hit 4.8%


in 2014 but will reduce to around 3.5% in 2015 – which would still put it well ahead of other leading EU economies, for the second year in a row. The rate of expansion is set to continue into 2016, with Ireland likely to lead the rest of the Union for a third consecutive year. For the reset of the Eurozone,


economists put GDP growth at 1% or less during 2015. One shouldn’t get too carried


away, of course. The country’s debt-to-GDP ratio is, at 115%, still one of the highest in the EU while unemployment remains stubbornly high at around 11%. And while growth may be strong overall, it remains highly volatile. Still, it’s not bad for an economy


that seemed to be in terminal decline at one stage, when it was labelled as one of the so-called ‘PIGS’ economies - Portugal, Italy, Ireland, Greece and Spain – in which sovereign debt was reaching alarming proportions. Indeed, in 2010, Ireland had the world’s highest budget deficit, at 32% of GDP. The recent fall in oil prices will be a double boost – not only will


cheaper petrol put more money in consumers’ pockets, but it could also reduce export costs for a country with some of the longest


A 1.6% increase in tonnage throughput at Belfast Harbour last year, slower than the rate of growth at Dublin and Cork, is “a fair illustration of the market,” accepts commercial director Joe O’Neill. Northern Ireland’s economic


recovery is slower than the Republic is currently witnessing, O’Neill says, although a 10% increase in new car imports to 48,000 -


its highest level since


2007 - suggests a modest pick-up in consumer confidence. Lo-lo volumes were 2.9%


higher, but O’Neill says ro-ro trailer movements were slightly down despite a 10% increase on the Belfast-Liverpool route thanks


Issue 2 2015 - Freight Business Journal


///IRELAND


shipping and trucking distances to the rest of Europe. The falling Euro will likewise boost the country’s overseas sales.


to the third vessel introduced by Stena Line in November 2013. Cement tonnages increased


fivefold but from a small base, and remain less than one third of pre-recession levels. Increased steel imports reflect greater manufacturing activity, though much of this is occurring south of the border. Shipments of steel scrap,


exported to Spain and Portugal or


transhipped over Liverpool


to steel mills in Turkey and Asia, were up 14% last year. Other bulk cargoes such as exports of stone and imports of paper and coal took Belfast to a record overall tonnage of 23 million tonnes.


Allen Black – a true professional


Freight industry stalwart Allen Black died suddenly in his home in Warrenpoint on 14 August 2014. He had served in the freight for


industry over 30 years.


Although born in Warrenpoint in Northern Ireland Allen moved to the Immingham area in the late 1960s. He initially worked for ICI but later joined the freight industry. He started working for


Exxtor which became Tor Line. In the early 1980s he joined Norfreight in Stallingborough, a Scandinavian freight forwarding company and he headed up their Irish groupage service. Allen was part of a very strong


freight team at Norfreight and oſten spoke of the many life-long friends he made while working there.


During his early days


in England Allen lived in Cleethorpes and then moved to live in Fulstow in Lincolnshire. He easily adapted to the


English way of life and was involved in several local sports


organsiations. He was an active member of Cleethopres Cricket Club and was scorekeeper for several seasons. He loved soccer and managed several local amateur soccer teams and was a keen Grimsby Town supporter. He loved English real ale


and was an aficionado on most of the top establishments in Lincolnshire where he had numerous friends. In February 1997 Allen


returned to live in his beloved Warrenpoint and joined us at Trans Europe Express where he was commercial director up to his retirement in June 2014. Allen was a gentleman and a true professional. He loved working in the


freight industry and made many friends through his work. He was ‘Old School’ and his word was his bond. He was a wonderful ambassador for our industry and he is and will be sorely missed.


Vincent Mc Govern Trans Europe Express


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