THE 11 State-owned seaports should be rationalised into competing multi-port operations based around Dublin, Cork and Shannon Foynes and then possibly privatised.
That is the recommendation from the Review Group on State Assets.
The group, led by economist Colm McCarthy, concluded that Dublin, Cork, Shannon Foynes and Rosslare (which is owned by CIÉ) were “big enough to be disposed of separately”.
But it said that any privatisation should “ideally . . . follow sector rationalisation”.
The aggregate turnover of the ports declined by 14 per cent in 2009 to €121 million.
Dublin accounted for more than half of this and 85 per cent of aggregate operating profits.
While operating profits at Dublin and Shannon have “held up well in the last number of years . . . all of the others have suffered significant falls”, the report stated.The Competition Authority should be consulted about any amalgamation process. “The adequacy of competition in the sector . . . should be reviewed prior to privatisation and suitable regulatory arrangements instituted if deemed necessary,” the report said.
