Earlier this week, Dublin Port Company reported its first quarter 2020 trading figures. The latest figures show a decline in overall port tonnage of -4.8% compared to the first quarter of 2019.
With the first three months of 2019 being dominated by the original Brexit departure date of 31st March 2019, volumes through Dublin were very high due to stockpiling. (For comparison, Q1 2019 Imports were 8.0% ahead of Imports in Q1 2018).
Against this base, significant growth in Q1 2020 was always unlikely but the impact of the Coronavirus, particularly in March, combined with significant Shipping disruptions due to bad weather in February caused volumes to decline by 470,000 tonnes or -4.8% in the first quarter of 2020.
Unitised trade (trailers and containers combined) fell by -4.4% to 360,000 units with Ro-Ro declining by -5.3% to 256,000 units and Lo-Lo by -2.2% to 187,000 TEU.
Imports of new trade vehicles through Dublin Port decreased by -10.3% to 30,000 in the first quarter and a significant continuing decline seems inevitable for the rest of the year.
Bulk liquid volumes, primarily petroleum products, grew by +4.4% to 1.1m tonnes. Aviation fuel accounts for more than one-fifth of all petroleum imports in Dublin Port and the impact of the coronavirus on air travel will lead to a large decline in imports of aviation fuel and in overall petroleum imports into Dublin Port in the months ahead.
Bulk solid commodities declined by -13.2% to 468,000 tonnes.
Commenting on the results, Dublin Port’s Chief Executive, Eamonn O’Reilly, said:
“Against the background of an exceptionally buoyant first quarter in 2019 because of Brexit, we did not expect to see continued strong growth in Q1 2020. However, the combination of exceptionally bad weather in February and the rapid impact of the coronavirus during March has caused port throughput to decline by 470,000 tonnes or 4.8% in the first three months of the year. Although our throughput was behind that of 2019, volumes in Q1 2020 were still ahead of Q1 2018 by 1.9%."
“The not too disappointing figures for Q1 2020 are irrelevant, however, as we look ahead to the second quarter during which we will see a very significant decline in volumes across all cargo modes and in passenger traffic.”
Dublin Port Throughput Statistics Quarter One 2020
“While work on long-term Masterplan development projects will continue once work restrictions are lifted, we will focus determinedly over the next three months on keeping day to day port operations going in order to maintain critical trade flows particularly of foodstuffs, essential consumer goods and medicines. It is at times like this that we see the importance of the Supply Chains we can normally take for granted in our daily lives.”
This last line echoes comments recently made by Minister of Transport Shane Ross on the importance of keeping Supply Chains operational in full during the COVID19 pandemic.
