2007

DublinWelcomes Marine Money

In the beautiful city of Dublin and the wonderful setting of the Four Seasons Hotel Marine MoneyWednesday hosted the inaugural Marine Money Dublin Ship Finance & Investment Forum with Anchor Sponsor Bank of Ireland. Over 110 attended to hear the two pronged rational for the conference. Firstly, in co-operation with the IMDO (Irish Maritime Development Office) to promote Ireland as a venue for foreign shipping companies to establish their corporate headquarters, and secondly to educate the Irish investment dollars (or euros) about shipping investment opportunities and how those investments can be monitored and managed.

The day began with a keynote address by Mr. John Lumsden, Assistant Secretary General and Head of Maritime Transport at the Irish Department of Transport. Mr Lumsden noted that Ireland is home to leasing companies owning 1,600 aircraft valued at $100 billion. It may take some time for shipping to catch up but the framework is in place with an enhanced business environment for shipping services and activities. Ireland is now a net exporter of shipping services and has 20 companies availing of the Irish tonnage tax and several more in the pipeline.

The first session was entitled setting the scene. Fred Doll of Dollship presented on the importance of shipping to world trade. Dr. Dan McLaughlin of the Bank of Ireland gave a presentation entitled the “Irish EconomicMiracle” and amply demonstrated the healthy growth of the Irish economy – growth year on year of over 9% in the 1990′s and just below 6% today. Current growth is mainly due to increases in household income caused by increasing employment (much of which is migrant labour) and accordingly increased consumer spending. Kevin Oates of Teviot Consultancy Inc presented on shipping as a place to invest and crystallise successful investment returns.

This is only an excerpt of People & Places – 11/01/2007

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.