With the exception of Waterford Port Company, which was incorporated in January 1999, vacancies have arisen on the boards of the other seven port companies following the completion of the five year term of office of the majority of directors. To date, I have issued warrants of appointment in respect of 14 replacement board members and I expect to be in a position to finalise the process very shortly in respect of the balance of vacancies. I am anxious that all of the new appointments to the boards will result in the appropriate balance of skills mix to ensure the formation of strong partnerships with the port companies' executives for the effective governance of each port company.