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Ship sizes to double to 3,500 TEU in Dublin with dredging, port expansion

THE Port of Dublin which extends from downtown to the mouth of the River Liffey will dock ships more than triple the size - from 1,000 to 3,500-TEU - under a new port expansion plan, reports the Evening Herald.

Ship sizes to double to 3,500 TEU in Dublin with dredging, port expansion
17 July 2015 - 20:41

Ship sizes to double to 3,500 TEU in Dublin with dredging, port expansion

THE Port of Dublin which extends from downtown to the mouth of the River Liffey will dock ships more than triple the size - from 1,000 to 3,500-TEU - under a new port expansion plan, reports the Evening Herald.

An Bord Pleanala, the national planning board, has approved a five-year plan to redevelop three kilometre of quays and dredge the 10-kilometre ship channel from 7.8 to 10 metres to the Dublin Bay Buoy five kilometres out to sea.

The project involves rebuilding 42 per cent of the berths or three kilometres of the existing seven kilometres docks.

"I am delighted that An Bord Pleanala has granted Dublin Port planning permission and that we can finance the project immediately," said Dublin Port Company CEO Eamonn O'Reilly.

"The engineering design works are already at an advanced stage and we expect the first phase of the works to be tendered and a contractor ready to start by October."

A report, issued by the Socio-Economic Marine Research Unit (SEMRU) at National University of Ireland Galway, claims a planned International Shipping Services Centre (ISSC) could put the Irish capital on a par with established hubs such as London, Hamburg and Singapore.

"Building on the experience from the International Financial Services Centre, and on Ireland's success in aircraft leasing, the ISSC plan aims at developing a hub for international ship finance in Dublin to establish Ireland as an international maritime centre such as London, Hamburg and Singapore," the report noted.

Irish ship finance plans were first revealed two years ago with Irish billionaire Denis O'Brien backing a company called ISSC Dublin, reported New York's Maritime Advocate.

ISSC Dublin aims to be the world's first shipping centre with everything under one roof like a trade centre, its CEO Cormac Megannety told Singapore's Splash 24/7. 

Mr Megannety also said that the renewed focus on maritime by both the public and private sectors could see the Irish flag promoted as an attractive registry for global shipowners.

"We're encouraging the private sector to invest and take risks," Marine Minister Simon Coveney told the Irish Independent, while in Cork, launching the national maritime strategy. "The model is to replicate what we've done in aviation leasing."

Ireland is one of the world's leading centres for global aviation leasing with 70 per cent of the world's leased aircraft deals made in Dublin.

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