The independent consultancy review I have initiated is of the operations and structure of the major State ports operating in the Shannon Estuary, namely, Foynes Port Company and Shannon Estuary Ports Company. The review will focus on whether changes in operational-management structures might significantly benefit port users and generate increased trade, industrial growth and employment for the benefit of the region as a whole. I am convinced that if there are strong commercial or developmental advantages to changing the present structures, these should be brought into the public domain and clearly identified.
It is time to take a critical look at the real potential of the ports industry in the Shannon Estuary, which has to compete on a commercial basis with larger ports. There is tremendous scope for further industrial and commercial development of the Shannon Estuary and its hinterland which will generate jobs and economic growth in the area. We must ensure that the estuary is served by port structures which are dynamic and focused in order to drive development forward and to act as a magnet for new shipping business. I see significant scope to develop further the national assets of the Shannon Estuary to meet their full potential for transhipment, tourism and cruise liner business.
In deciding to initiate this review, I have borne in mind recommendations contained in a number of expert reports commissioned by my Department which suggest that a merging of the two ports would provide a cost effective, competitive and dynamic platform for development. Other interested bodies such as the Institute of Master Mariners and IBEC have supported rationalisation. My Department has also examined the current structure of and relationship between the ports in the estuary in the context of its corporate governance function and identified potential for improvements. In light of these views and to ensure that every means of maximising port and ancillary activity in the estuary is appraised, it is essential that an objective, professional and inclusive review of current structures is carried out as soon as possible.
Both port companies have identical, not separate, commercial mandates and statutory objectives for the management, control, operation and development of facilities and must conduct business at all times in a cost effective and efficient manner. The independent review will be fully inclusive and will involve a wide-ranging consultation process encompassing all interests, including port users, employee and employer representatives, State development agencies and shipping-transport interests. I particularly wish to determine whether the existing multi-port arrange ment is meeting user needs or if a stronger more focused and dynamic port organisation or grouping of ports could provide a better and more cost effective service. I am keen to establish whether stakeholders consider a unified port entity or a confederation of ports would give a better platform to develop new initiatives and enhance the socio-economic development of the estuary and region.