ICG to continue no hedging on fuel costs

Irish Ferries’ owner Irish Continental Group (ICG) said it will continue its policy of not hedging on fuel costs; adding that if it had done so at the turn of this year, it would already have lost around €4m on the back of falling oil prices.

ICG’s chief executive Eamonn Rothwell made the comments following the group’s annual general meeting in Dublin, yesterday, at which all resolutions were passed by shareholders.

Regarding acquisitions Mr Rothwell said that the group has nothing imminent on its radar, although he added that management is always monitoring opportunities in the marketplace.