Who owns Ireland’s ports? The cost of Capitalism and the good life...

Dinarius

The reason I ask is because, in a review of a book on Brexit entitled “Dreams of Leaving and Remaining “, in today’s Financial Times, the reviewer cites the author’s claim that,

“...the hulking presence of Associated British Ports, the company that dominates the waterfront. Almost none of it is British. One third is owned by the government of Singapore; half by various Canadian pension funds. Only 10 per cent is British...”

He then informs the reader that, “Each of these countries......owns its own ports.”

Britain’s open market economy, post-Thatcherism, has come at a huge price in terms of loss of autonomy. It’s pretty much accepted that all the bits of London worth owning, are foreign owned. And leaving the EU will regain none of this.

I’m just wondering what has been the cost in terms of loss of sovereignty and ownership in our (tiny) and even more open economy?

D.

kneemos

Rosslare is partly owned by the Brits apparently.

ytpe2r5bxkn0c1

I'm confused as to who the 'our' refers to. The Irish state owns Irish ports.

Your Face

I think each of Ireland's ports are ran by their own companies, which are semi-state.
In some cases, the County Councils run them or have received control of them.

listermint

kneemos wrote: »

Rosslare is partly owned by the Brits apparently.

Isn't it owned by Irish rail

ytpe2r5bxkn0c1

kneemos wrote: »

Rosslare is partly owned by the Brits apparently.

There's a dispute and more than a little confusion regarding who owns parts of Rosslare, due to ambiguity in the statutory instrument establishing the Rosslare Fishguard Harbours Company 1898.

Victor

Most of the larger ports are owned by port companies that are owned by the state. The main fishing ports (Killybegs, Castletownbere, etc.) have a custom arrangement. Small local harbours are owned by the relevant council. Many of the quays / wharfs are owned by the port companies, but some port users may have their own piers / jetties - those users still have to pay certain port fees.

The state owns all land between high and low tide and charges for foreshore licences.

Dinarius wrote: »

I’m just wondering what has been the cost in terms of loss of sovereignty and ownership in our (tiny) and even more open economy?

The thing is, the British government can tax not just those ports, but also the profits of businesses registered in the UK which have foreign assets. Swings and roundabouts.

https://en.wikipedia.org/wiki/Associated_British_Ports

Associated British Ports. Associated British Ports Holdings Ltd owns and operates 21 ports in the United Kingdom, managing around 25 per cent of the UK's sea-borne trade.

So it's not like their is a foreign monopoly on British ports. If there was a foreign monopoly / cartel that was being abused, they would find themselves being yoinked quite quickly. The likes of pension funds would not allow this to happen.

kneemos

listermint wrote: »

Isn't it owned by Irish rail

It's part of Irish Rail. It's 50/50 ownership between us and the Brits bizzarilly.

https://www.southeastradio.ie/2017/11/ownership-issue-causing-problems-at-rosslare-europort/

Zorya

China is investing heavily in European sea ports. Don't know about here, but other places for sure.

kneemos

listermint wrote: »

Isn't it owned by Irish rail

Irish Rail have basically used it as a money pot,invested nothing and let it go to shoite by all accounts.